Advocis Succession Planning for your Business

Succession

Planningfor your Business

D e c e m b e r 2 0 1 2

P r o m o t i o n a l S u P P l e m e n t

It’s easy to get into business… harder to get out

This insert provides valuable information to business owners in the Greater Vancouver Area and has been sponsored by the Vancouver Foundation and the Vancouver Fraser Valley Chapter of Advocis

or you would like it to have on your community.

Therefore, succession planning and planning an exit strategy work hand in hand. Succession planning ensures the longevity of the business and an exit strategy ensures that the other important and sometimes comprehensive factors that are personally important to you, your family and your community are also adequately and appropriately addressed.

It is important for the business owner to work in conjunction with trained succession and exit planning specialists to ensure that all of your needs and wishes are addressed and can be executed in the way you want. These trained professionals will work with you and will take the time to get to know you - they will document the process every step of the way and will ensure that you have full input into every aspect of the planning. Once a plan is in place, they will continue to maintain and monitor your plan to ensure its continued success.

Planning your exit from your business should also form an integral part of your estate and retirement plan. Planning and implementing your various strategies will enable you to transfer your business to your family, your employees or an outside

buyer; and provide you with retirement income. It also affords you the opportunity to contribute to your favourite charities or community initiatives, maximize your financial return and minimize your tax liability.

Having proper plans in place will ensure that you get the best you can out of your business for yourself and your family, whether that be now or after your retirement or at disability or death.

The transition to exiting your business in a timely fashion and in the manner of your choice should not be seen as an event but more as a process - this can be best achieved by having a team of qualified professionals work alongside you. Proper planning provides an opportunity to protect all that you have worked hard for and allows you to pass that legacy on to your loved ones when you want, and in the way you want.

As there are many elements and factors to consider, it is our hope that through this insert and the articles contributed by experts in the various specialized fields, you will realize the benefit of having designated and qualified professionals as part of your planning team. We all know that the best decisions are ‘informed decisions’ and these designated professionals whether they be accountants, financial/gift planners, insurance planners, lawyers or trust officers, have the skills to guide you through this process and help formulate, execute and maintain and a worry free exit and succession plan.

Remember….This is a Team Effort and every team needs some ‘Key’ Players!!

In closing, I would like thank Chris Wilson, Kerry MacDonald and the entire Advertising Team at Business in Vancouver. Their help and support as always plays a significant role in the production and distribution of this insert to all of you.

Mark Schulhof CLU, Ch,F.C. RHU,CFP CEO Cara Financial Inc.

As baby-boomer business owners retire, there will be a massive shift of assets

between generations. Why is it then, that so few business owners have succession plans or exit strategies in place?

To quote Franklin Taft (President and Treasurer of Industrial Mutual Insurance Co) maybe it is because “I’m too busy working in my business to think about how to leave it. Besides, I don’t know what to do and neither do my advisors.”

As a specialist in Estate and Succession Planning, I have personally spent a considerable amount of time researching this issue. Some of what I will share with you below is my own personal thoughts and comments as well as some insight and information I have gleaned from other professionals in this field.

Apart from feeling overwhelmed and too busy to deal with this issue, it seems that a significant barrier to the successful transfer of ownership of a business is the emotional unwillingness to consider what the future means and the belief that formulating and exit strategy can wait.

Succession planning and planning an exit strategy require two completely different mindsets. Many business owners are just not sure how to get started or where. Succession planning primarily focuses on the transfer of the leadership and/or management of the business from one generation to the next. It is essentially an approach to business continuity, which in turn is a critical component of an exit strategy.

Exit planning on the other hand is a comprehensive analysis of all of the factors that impact the business owner – while succession planning is a key component, it also deals with a variety of other issues that might be important to you, such as current and future planning with respect to your personal financial stability and possibly that of your family, the business itself, its value, employees, position in the market. You may also want to consider what if any impact your business has

Mark Schulhof CLU, Ch.F.C. CFP, RHU

2 | Advocis Charitable giving and business succession planning 2012

Platinum sPonsor:

Gold sPonsors:

silver sPonsors:

As business owners we are all facing a challenging year

ahead. With the uncertainty of the markets and the changing provincial sales tax issue the one constant challenge that you can prepare for is your succession and estate planning. I know that many of you have felt the pain of a family member or a friend in need and want to help in some way but may not have a charity of choice or know where to look. I hope you take some time to read the information in this publication, I am sure the content will help you create action plans to address your business planning needs and give you some insight into the value of charitable giving.

As most of us sit down over the holidays and make plans for 2013, I would encourage you to add meeting with a Financial Advisor to your to do list. The professionals you see in this publication and those that are members of Advocis can help you develop a plan that will not

Message from the president

only help your business but also your family and a charity in need. These professionals are dedicated to helping you maximize your personal value and minimize tax.

Advocis is The Financial Advisors Association of Canada and the largest association of its kind in Canada with more than 11,000 members. Advocis members have various specialties

including comprehensive financial and retirement planning, finance and wealth management, business succession, estate and tax planning, risk management, and employee benefits planning. Our members are Professional Financial Advisors who adhere to an established professional Code of Conduct, uphold standards of best practice, participate in ongoing continuing education programs, and maintain appropriate levels of professional liability insurance and are committed to putting their client’s interests first.

Thanks for you time and I hope the articles in this publication help you attain your goals going forward.

Vince McKay, Essential Financial Services

Advocis wishes to thank the Vancouver Foundation for its generous support of this supplement, in addition to its ongoing sponsors.

As the fundraising partner of the BC Cancer Agency and the largest charitable funder of cancer research in this province, our donors contribute to leading-edge research that has a direct impact on improvements to cancer care for patients in British Columbia.

This year, we are proud to be recongized by Charity Intelligence Canada as a CI Top Pick Charity for 2012.

Funding more cancer research in BC than any other charitable organization.

Learn more at www.bccancerfoundation.com.

InsideFamily Business Transition – The Why 4

Our Charitable Alliance 5

Creating the Success in Succession Planning 6

Every family’s business –Always be prepared! 7

Insurance Trusts 8

Doing well by doing good 10

Women: No longer a hidden market 11

Corporate tax planning – the value of life insurance 12

At the end of the rainbow 13

What do the designations mean? 14

What Is A Will? 17

Directory of contributors 23

Charitable giving and business succession planning Advocis | 3

In order to help facilitate a successful transfer of ownership for family businesses, many advisors adhere to strict technical,

financial, and legal structures that govern succession planning. However, in order to develop and implement a strong, personalized plan, advisors must also understand the goals of all involved in the transfer—they must understand the “why” behind the succession plan.

Family Business Transition – The WhyWhat’s really important?

By Rob Radloff and Neil Harker.

In order to determine the “why,” an advisor needs to recognize, and remain sensitive to, the interpersonal relationships relevant to the family business. Each family business has unique assets, as well as challenges and personalities that need to be taken into consideration.

For example, it’s quite common for family members to make assumptions regarding the transition of management, and this can easily lead to personal conflicts. For that reason, it’s important to establish strong communication channels between the business owner and their immediate family.

This maximizes the potential for a successful transition, and minimizes misunderstandings. It can also help quell any suspicions surrounding favouritism or opportunism between family members. A communications strategy may seem like an obvious requirement for a succession plan, but it is often neglected or overlooked.

As part of the communications strategy, an advisor should work with family members to help determine what role they each want to play post-transition, or more importantly, what role they’re best suited to play. Personality profiling systems can be helpful to assess each person’s strengths and interests in relation to the business. This process can also help create realistic expectations about the succession, especially regarding management roles.

The next step is a clear, mutually agreed upon delineation of duties and responsibilities. This is an important part of ensuring the business’ future viability, and allows family members to fully contribute to the overall, long-term success of the organization. Having a common goal, and understanding what role each member plays in achieving this goal will facilitate an ease in owner transfer, and strengthen the business’ overall vision and culture.

Having a common goal for the future is energizing, and a successful succession plan should inspire the next generation of business owners and meet the needs of all concerned—throughout the transition process, as well as after the transfer of ownership is complete.

Understanding the “why” behind a succession plan will ensure a unified, transparent, and supportive transition process. Once this question has been answered for all involved in the succession, an advisor can help create and implement a strategy that is reflective of their vision and help ensure a vibrant, long-term business legacy.

Rob Radloff is a Chartered Accountant and a Financial and Estate Specialist with Covenant Family Wealth Advisors; Neil Harker is a Family Transition Specialist with the Covenant Family Wealth Advisors.

“ Having a common goal for the future is energizing, and

a successful succession plan should inspire the next

generation of business owners”

EXPERT TIPSFor Successful Business Transition

VANCOUVER OFFICE20385 64th Ave (2nd floor)

Langley, BC V2Y 1N5

TORONTO OFFICE6 Roebuck Street

Brooklin, ON L1M 1B2

OTTAWA OFFICE89 Auriga Drive

Ottawa, ON K2E 7Z2

[email protected] FREE 1.888.629.0044

Scan or download our experts’ tips for successful business transition. www.covenant.ca/tips

Family. Wealth. harmony.


FRaNco: It was a typical Toronto winter day, icy and frigid cold, however I was actually in Vancouver! I couldn’t believe that I was unprepared for the weather. Wearing my dress shoes I was desperately trying to walk up a slight incline at the Vancouver Convention Centre. Finally I realized I couldn’t move another step without falling and causing grave injury and terrible embarrassment to myself. I simply clung onto a railing hoping that someone would help me out. Instead I found dozens of business people (obviously much better prepared for the weather) blowing right past me, eyes averted or glued to their iPhones. It was a very humbling position to be totally helpless and at a loss for what to do. The next thing I knew, I felt a hand on my arm and I looked down at a tattered, dirty, glove with no fingertips. I looked into the eyes of a stranger holding my arm who simply guided me up the ramp until I was able to walk on my own again. It gave me pause for thought to realize that the first person who took the time to provide a helping hand was someone in our society who most needed the help

Our Charitable Alliance: Working together to make the world a better place

By Franco caligiuri and Larry amstutz

himself. Potentially, he risked someone calling the cops or pushing his hand away. This is the essence of a charitable heart...putting others before yourself, not being concerned about what others might think, and giving what you can; in this case a gift of time and spirit.

LaRRy: I wish you could have known my father, Peter. He was a fun, loving, and generous man. Sadly we lost him in March 2011 from a combination of lung cancer and prolonged heart disease. My dad would have given you the last $20 in his pocket if you said you were in need. No strings attached. I believe this is the cornerstone to my own philanthropic interests and activities today. After my brother survived lymphoma at 25 my dad gave every year to the fight against cancer. When later my brother was injured in an industrial accident, he also donated regularly to the Burn Fund. The two core reasons that Canadians give charitably is that they have been touched personally or that they want to make a difference in their communities. Everyday I help people who have an interest in charitable giving find the best way to maximize the impact of their charitable gift. Sometimes it is by giving a gift through their Will, sometimes it is donating a life insurance policy which can potentially quadruple the size of their gift, and sometimes it is simply changing the beneficiary of their RRSP or RRIF to a charity. There is a truism that our parents get smarter as we get older. Well, I am getting older and I appreciate that my dad was a smart and generous man.

our charitable PartnershipFranco and I have seen first hand the benefits

and rewards of giving. We know we are not alone, as Statistics Canada reports that about 85% of adult Canadians give charitably annually. It seems such a natural alliance between us. We both have a passion to make a difference in our communities and to actively engage people in conversation about their charitable interests. But like any other quality relationship we consistently work at it. He recognizes the value of adding the specialized expertise of a Planned Giving Officer to his business platform to enhance the experience and opportunities for his clients. My support is given as a charitable giving specialist no matter what the cause of interest is to his clients; whether it be faith based, the environment, or a health related cause like supporting the fight against cancer.

If you have the desire to leave a legacy, pass your values down to future generations, and really make a difference, then we would both encourage you to contact either one of us to learn more about creating your own charitable alliance with a Planned Giving Officer and to add charitable giving as an active component to your business platform.

Franco CaligiuriPresident, Capital Core [email protected] (604) 685-6525 ext 4

Larry AmstutzPlanned Giving Officer, Canadian Cancer Society, BC & [email protected] (604) 675-7351

Join the fight. Leave a legacy.Did you know that a legacy gift to the Canadian Cancer Society can fight cancer and protect your estate from tax?

For your free copy of the Estate Tax Eliminator Clause and Will Planning Guide, contact Toni Andreola at [email protected] or 1 800 663-2524, ext 7112.

cancer.ca

2012 Charitable giving and business succession planning Advocis | 5

Succession planning is challenging for business owners because of the multiple

layers of complexity that are involved in developing an effective succession plan. Understanding who is going to be entitled to benefit from ownership, and who will have the responsibility of managing and how they will be compensated is complex. This is true whether there is an active business involved or the family wealth is comprised of real estate holdings and portfolio investments. Impacting these are the taxation and the liquidity considerations of separating the family members’ interests if they are no longer able to cooperate and share common goals. The Family Firm Institute, which is the international body established over 25 years ago to develop the body of knowledge in the field of advising business families, recognizes that there are four broad areas that need to be considered within succession planning including tax and legal matters, management and leadership, finance and liquidity, and family dynamics. It is also important to recognize that succession is a process or a journey rather than an event and it is appropriate to have this process facilitated by professionals.

Effective succession planning therefore starts with understanding the family members, their life goals and objectives, any common vision and purpose that they share, and the relational dynamics that will impact the decision-making processes within the family. Once this understanding exists then it will be possible to develop appropriate ownership and tax structures to accommodate the family goals and objectives. Within the structures it will then be possible to objectively develop liquidity and exit strategies when the objectives of the family members diverge.

Due to the differing interests of each of the family members it is extremely helpful to have a common understanding of the issues which impact the planning and of

Creating the Success in Succession Planning

Malcolm Ross CFP,CLU,TEPPresidentInvestaflex Financial Group

the possible solutions available to address them. Since ownership and tax structures are inherently complex it is important to develop a common communication language which allows all of the family members and all of the advisors to collaborate effectively. The Investaflex structure diagram methodology creates a graphic communications tool which allows family members and advisors to share information and develop a common understanding. Visual communication tools supported by detailed numerical analysis allows each family member to fully understand the consequence of each planning decision and therefore make informed decisions.

In 2005 Investaflex Financial Group was the first Canadian company to offer a virtual multi-family office system. While the traditional family office structure is the preserve of the ultra-wealthy, and emerging multifamily office structures in Canada and the US are primarily built around portfolio asset management, the Investaflex Virtual Family Office (VFO) was developed to facilitate collaboration between clients and their trusted advisors with a clear focus on addressing the planning needs of the business owner and his or her family. The VFO is a dedicated and secure internet portal which is shared by the clients and their chosen advisors including their accountant, lawyer, management consultant and financial advisors. The VFO is a repository

that ensures all advisors are working with the same information with a common definition of the project and are focused on the client’s needs. By working with the trusted advisors and creating a common language to enhance understanding the Investaflex process empowers business owners and their families to make informed decisions. Most often the differing perspectives of each professional enhances and refines the recommendations so that the whole is greater than the sum of its parts.

Investaflex Financial Group is the only advisory firm in British Columbia that has twice been recognized by the Advisors Edge Advisor of the Year Awards for planning excellence. Through an industry-leading planning process, their visual communication tools and supported by proprietary tax analysis tools the Investaflex Team are able to work with your existing trusted advisors and a wide network of local experts through the virtual office system to ensure that you receive a plan specifically designed to optimize your family wealth.

Malcolm Ross B.Com., CFP, CLU, TEP, CFBA was the Advisors Edge Advisor of the year in 2002 and is a Family Firm Institute Certified Family Business Advisor, a CAFÉ trained Family Council and Board Facilitator, and a Registered Trust and Estate Practitioner with over 20 years of advising BC business owners and their families.


axel christiansen MBA,CFA

Managing DirectorBDC Subordinate

Financing604 666-7875

Malcolm Ross CFP,CLU,TEP

PresidentInvestaflex Financial

Group604 331-2520

Don Sihota LLBPartner,

Clark Wilson LLP604 643-3123

Mark WardellPresident

Wardell Professional Development604 733-4489

A recent CIBC world markets report disclosed that 40% of business owners

of small to medium sized businesses in British Columbia are planning to retire within the next five years. This is significantly above the national average of 28%. What is particularly disturbing is that almost 60% of these business owners have no meaningful business succession plan.

According to the report while succession planning is the norm for large corporations, for small and mid-sized companies it is an overwhelming issue that is too often dealt with only in emergency situations such as death or illness of an owner/partner or when new partnership is needed following a cash flow crisis. Since we cannot predict these events the failure to plan for succession results in significant erosion of the business value.

For most business owners there are three major options that they consider when developing their succession plan. The first of these is a transition to family members, the second is the sale to employees or the management team, and the third is a sale to a third party. Whichever method, the actual transition of management and ownership control is often the most difficult decision the business owner has to make because of the impact on the financial security of his/her family and the families of employees, many of whom share a significant relationship with the founder and the company. Often the value of the business in the eyes of the business owner is significantly greater than it would be if he/she was not the owner of the business but was looking to purchase that business. Most business owners will only ever sell one

Every family’s business –Always be prepared!

business and as a result of that will not have the experience of the common tax, legal and financing pitfalls that will significantly impact the value that they will realize on the business sale.

Understanding the value of the business in the open market, ensuring the appropriate blend of financing, putting in place appropriate tax structures and obtaining expert legal advice are essential to being objective and maximizing the value on sale. Ensuring that there is proper management, appropriate business processes and a team of people capable of running the business without the owner will enhance the attractiveness of the business to potential buyers. Always be prepared!

In order to help educate business owners about the importance of each of these elements in laying down the foundation for a successful business succession plan a group of advisers has come together to bring to Vancouver on January 24, 2013 Thomas

William Deans PhD international speaker and author of the number 1 best-selling book on protecting family wealth – “Every Family’s Business”.

The group includes Axel Christiansen (Managing Director of BDC Subordinated Finance), Malcolm Ross (President of Investaflex Financial Group and 2002 Advisors Edge Advisor of the Year), Don Sihota (lawyer and Partner at Clark Wilson LLP), and Mark Wardell (management consultant and President of Wardell Professional Development Inc.). The group brings together over 100 years of professional experience working in the areas of business finance, management consulting, tax and legal planning, and family business advising.

Seminar EventDelta Casino Hotel Burnaby from 8.00am to Noon on January 24, 2013

Speakers:Thomas Deans Axel Christiansen Malcolm Ross Don Sihota Mark Wardell

Cost $285

Includes a copy of Deans’ book, and a one-hour complementary consultation with each of the local experts and a free 90 day trial of the Virtual Family Office. Seating is limited for this exclusive event.

Call 604-331-2520 to Register


If a person already has life insurance in place, consideration should be given as to whether

the proceeds may be structured in an insurance trust, to provide more advantageous ongoing results for the surviving family members.

An insurance trust is a trust funded by insurance proceeds. Instead of making a spouse or children the direct beneficiaries of an insurance policy, a person could instead direct these proceeds to a trust, which would list the spouse or children as the beneficiaries.

The Insurance Act in British Columbia permits an insured to appoint a trustee for a beneficiary, via a “declaration”. Such an “Insurance Declaration” is essentially a detailed insurance beneficiary designation, which can be utilized to create separate trusts to deal with the insurance proceeds.

Insurance Declarations provide the same benefits of insurance generally, such as avoiding the probate process for the funds (thereby saving expenses and fees), and offering privacy. In addition however, trusts created by Insurance Declarations will be seen as “testamentary trusts” (so long as the deceased was the sole owner and life insured of the policy). Testamentary trust planning provides the following benefits for the

Insurance Trusts

insurance proceeds:1. asset protection, as these assets are not

directly owned by any of the beneficiaries; 2. income splitting, as the income produced

by these assets can be taxed separately and apart from the income and salaries of the beneficiaries, or allocated to the beneficiaries who earn less income, thereby resulting in less tax payable overall; and

3. control and flexibility, as the main beneficiaries (i.e. spouse or children) can be appointed as the trustees.

Consider the hypothetical Donald, who is married to Donna, and who has three infant children with Donna. Donald has a $500,000 life insurance policy. If Donald were to designate his spouse as the direct beneficiary, Donna would receive the funds free of income tax and probate fees upon Donald’s death. However, the extra income earned every year from the proceeds would be added to Donna’s income and increase her taxes, and the proceeds would be available to be executed upon by any of Donna’s creditors.

Instead of designating Donna directly, Donald could utilize an Insurance Declaration and set up an insurance trust to receive the proceeds. These funds would still be received free of income tax and probate fees by the Insurance Trust, just as before. As well, since Donna would be the trustee, she would still have the same control as owning the funds outright. However, these funds would now be out or reach of any third party creditors of Donna, and so would always be available for Donna and the children. Furthermore, Donna and her children would all be current beneficiaries, to provide for more efficient

splitting of income for tax purposes among the whole family class. Donna would be able to allocate the income generated by the proceeds at her discretion among the trust, herself, and her children, to achieve the best tax result possible every year. Finally, upon Donna’s death, the insurance trust would provide for an alternate trustee, and the remaining funds would all flow to Donald’s children, again avoiding Donna’s estate and any probate fees at that time.

Still a further advantage can be seen for Donald, if we assume that, due to Donald’s mortgage and other liabilities, Donald’s net worth is negative. Donald wants to ensure that a specific value of funds ends up in a trust for Donna and his children. By using an insurance trust, Donald could now rest assured that the face value of his insurance would bypass his estate and any probate fees and creditors, and be placed intact in a trust for his family. There would be no surprise payments or liabilities that would reduce the available insurance proceeds. In such circumstances, an insurance trust could end up having more financial importance for Donald’s family than his Will.

Insurance trusts are generally underutilized in estate planning, and offer very interesting opportunities. We recommend that their use be explored in estate planning.

Rick Montens is a partner with BC’s Oldest Law Firm - Richards Buell Sutton LLP. He is the leader of the firm’s Wealth Preservation Department, specifically dealing with Estate & Trust Administration and Personal Estate Planning. Rick can be reached at 604.661.9245 or [email protected].

Rick Montens, TEP PartnerRichards Buell Sutton


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Standard Life Mutual Funds Ltd. November 2012 ©2012 Standard Life, image reproduced under license.

Advocis_7.1x9.8_English.indd 1 11/28/2012 1:13:55 PM

www.nicolawealth.com/the-client-experienceVancouver: Head Office: 5th Floor - 1508 West Broadway, Vancouver, BC V6J 1W8 T: 604.739.6450

Kelowna: Landmark III Suite 520 - 1632 Dickson Avenue, Kelowna, BC V1Y 7T2 T: 250.763.9757

Nicola Wealth Management is more than a financial planning firm.

Many of you are committed to supporting a number of charities each year. You have

spent a good deal of time understanding their objectives and learning their needs. Your support makes it possible for them to accomplish the great work that they do.

However, “It takes two to tango.” Have you thought about the prospective

buyer’s needs? If you haven’t, it’s likely that all your planning is moot.

What will happen to that support when you are no longer here? Will you arrange to leave part of your estate to those same charities through your will? If so, what part? Will the money be used wisely? Will it create a legacy that can continue to give long after you are gone to help ensure the sustainability of the organizations you want to support?

We believe that for many generous donors, there is a better way to give that accomplishes the following:■ a permanent endowment fund that can support your favourite charities indefinitely;■ higher tax deductions today; and ■ the ability to change one’s mind about which charities to support and to what level.

What is this structure? It is called a Donor Advised Account. Below is a brief case study that illustrates how these creative structures work to build a permanent charitable legacy for donors.

Joan Smith is a successful cardiologist who has always been generous in supporting a number of worthy causes. One of her favourite charities is an AIDS orphanage in a small village in Swaziland

Doing well by doing goodTax-effective strategies for building your charitable legacy

John Nicola, CLU, CHFC, CFPChairman & CEO, Nicola Wealth Management

called Bulembu.Bulembu currently cares for 250 children between

the ages of four weeks and 18 years who have been orphaned as a result of losing their parents (mostly to AIDS). While Bulembu is building long-term infrastructure to make itself sustainable financially, it will need support for at least a decade to achieve those goals.

Joan annually commits $5,000 to Bulembu and another $5,000 to other charitable organizations. Each year, Joan receives tax credits for her generosity that amount to approximately $4,400. She has also changed her will to leave special bequests to all of her charities totalling $200,000.

We are Joan’s financial advisers and wealth managers. In a recent meeting with her, I suggested she consider establishing a donor advised account. First I described the steps and then went over the benefits to both her and her charities.

A Donor Advised Account is an account established within a foundation to which one can contribute capital. The account is held in the name of the donor and or their estate, and the contributed capital is invested in a way that generates sufficient annual income to meet its objectives for annual giving and ideally grows the capital over time.

In 2003, Nicola Wealth Management created the NWM Private Giving Foundation (PGF) as a public foundation to facilitate our clients’ charitable giving. As part of our commitment to encourage our clients’ increase in their own level of “social capital,” we pay 100% of all administrative costs for PGF.

Benefits of a Donor advised account ■ As a donor, you do not have to decide immediately on a particular charity in order to obtain a tax receipt. With a PGF account, you obtain an immediate tax deduction for your charitable contribution and recommend grants to qualified charities at a later time

when you are ready to make those decisions.■ The convenience and flexibility of a PGF account allows you to make substantial contributions to your account in profitable years and to sustain a similar level of giving to your favourite charities in leaner times.■ Donations can be made in cash or in kind. In-kind donations include mutual funds, stocks, shares of private corporations, bonds, real estate property, etc. ■ Any potential asset growth in the PGF account accumulates tax-free, offering the potential for greater charitable grants in the future. ■ Contributions provide tax savings up front that amount to a tax deduction of approximately 43.7%!

In Joan’s case, I suggested we do the following to create her legacy donor advised fund:1. Transfer $200,000 from her non-registered

investment accounts to her new donor advised account within PGF (the Dr. Joan Smith Fund).

2. Over the past 10 years, Joan’s balanced portfolio has averaged a return of just over 7% per year. I suggested she plan on withdrawing 5% per year ($10,000/yr) and hope for growth in the portfolio over time, allowing her to increase her annual distributions, as well.

3. Joan could save up to almost $88,000 in tax this year for establishing this account.

4. She can add to the capital of her account whenever she wishes. This, in turn, will increase the funds’ ability to make gifts while continuing to be a very attractive tax strategy for Joan.

5. Joan directs how much of her account is distributed each year and to which charities.

If you believe creating a permanent legacy is a great way to support your favourite charities, then consider using a donor advised fund now.

You’ll do well by doing good. ◊

“ The value of a man resides in what he gives and not in what

he is capable of receiving” - Albert Einstein


It’s tough to overcome inertia. For more than a century the financial services

industry has focused on men as the primary target for individual insurance and retirement savings. Yet clearly the tide has changed but many have not seen the reality around us: Women have become the dominant economic force in our society.

The economyThis past June at the Distributor’s

Summit, Mike Aziz, vice president of sales at Desjardins Financial Security said, “The purchasing power of women extends to all areas, with wives, mothers and singles in control of most of the purchases for themselves, their parents and their families.” In fact, women influence:• 91% of home purchases• 80% of health spending• 90% of financial decisions

Overall, it is reported that Canadian women control 67.2% of all household spending, according to a study by the Boston Consulting Group. That’s a lot of purchasing power in our economy.

LeadershipIt’s a given in Canada that our leaders

will be well educated and successful. And, it was once a given that these potential leaders would be men. However, a Statistics Canada report from 2007 stated that 61.5% of undergraduate degrees and 54.6% of master’s degrees are held by women. Also, the number of women enrolling into

Women: No longer a hidden marketSo why aren’t they the focus of financial planning by financial advisors?

Mia K. chang Regional Sales Director and Lawrence chandler Marketing Communications Desjardins Financial Security

medical faculties has increased from 14.3% in 1969 to 57.7% in 2011. (Source: 2011 Office of Research and Information Services of AFMC)

All professional occupations have also seen great increases in — and will likely be dominated by —women. In the years ahead, we should expect to see more women emerge as the CEOs of many large companies and radically change the business culture in Canada. A perfect example of that is Monique F. Leroux, Chair of the Board, President and CEO Desjardins Group.

your practice – your companyIn The Female Economy, presented in

the Harvard Business Review, the authors stated: “Financial services wins the prize as the industry least sympathetic to women – and one in which companies stand to gain the most if they can change their approach.” (Michael J, Silverstein and Kate Sayre, The Female Economy)

Those are strong words that we all should take to heart, and I’m sure that we’re up to the challenge. A friend of mine defines a Financial Services Advisor as an enabler of change. That seems to fit well in this case.

Clearly, a reorientation must take place within our industry. Some things we have identified include:

Women respond to sales approaches

that they identify with. For example, • Place an emphasis on the human aspects

of the client’s needs rather than only the financial needs

• Focus on real life stories to put it into context – an emotional story will have a stronger impact than statistics

• Recognize that women are more plugged into health issues and more likely to listen to advice on this topic

Women recognize that they are more likely to be the primary caregiver and key to the sandwich generation, so they have an affinity towards solutions that will help them

Woman want to be proactive in creating a financial safety net for their loved ones; they will look to the advisor for a solution that will provide security and support to their loved ones if they should become seriously ill

Many individual health insurance products like critical illness insurance have been spare by the rounds of premium rate increases of the past few years. This means that relatively speaking they are more affordable than in the past, are favoured by manufacturers and often ideal for the women’s market.

At DFS, we have understood that there is a tremendous opportunity in developing initiatives and tools to better serve the needs of women. Have you considered:• Focusing your practice adapting your

sales strategies more on the women’s market?

• Providing more support to developing the careers of women employees and advisors within your office?

• Recruiting more women as advisors because women already get it – it is their natural market?

“ The purchasing power of women extends to all areas,

with wives, mothers and singles in control of most of the

purchases for themselves, their parents and their families.”

— Mike Aziz, vice president of sales at Desjardins Financial Security

Woman want to be proactive in creating a

financial safety net for their loved ones;

they will look to the advisor for a solution


Corporate tax planning – the value of life insurance

Brenda McEachern, BComm LLB TEPEstate and Tax Consultant Canada Life

Many entrepreneurs and professionals earn large incomes through their

corporation. They have choices whether to take salary or dividends to pay for their annual lifestyle needs. They have choices how best to accumulate retirement savings – inside their corporation or outside – in an RRSP or in a non-registered portfolio. They have choices how and in what order to convert their assets into income in retirement.

One of the major advantages of incorporation is the ability to defer tax on annual income. The first $500K of taxable active business income is taxed at 13.5% and active income over $500K is taxed at 25%. Compared to earning this same income personally at 43.7%, this represents a deferral of 30% and 18% respectively, so long as the funds remain in the corporation. That extra cash flow can be put to good use creating a retirement nest egg.

It is important to manage the accumulating corporate retained earnings efficiently to minimize the tax payable on annual portfolio income. This can be done by investing in capital appreciating assets and by depositing funds into a tax sheltered insurance portfolio. So long as the funds remain in the insurance portfolio, the annual growth is tax exempt.

This too has a significant impact on the ultimate size of the retirement fund.

Next step is to access the retirement fund in the most tax efficient manner. The corporation will likely have accumulated special tax accounts that can be applied to reduce the effective tax rate (CDA, RDTOH, GRIP). The corporation can distribute these tax efficient dividends to the shareholders.

Finally, the entrepreneur or professional will want to ensure that the corporate value passes to the next generation with as little estate tax and probate fees as possible. To the extent that the corporation owns insurance, the capital dividend account created by the insurance proceeds can pass from the corporation to the estate tax free.

corporate owned Insurance Participating whole life insurance is

permanent cash value insurance that provides a tax sheltered vehicle to accumulate corporate retained earnings and pay them out later as a retirement income stream. The insurance contract has built in guarantees – premium, cash value and death benefit are all guaranteed terms. In addition to the guaranteed values, the contract earns dividends annually as declared by the board of Canada Life which add to the ultimate cash value and death benefit.

The dividend rate for 2013 has been set at 6.5%. This rate is reset annually and can go up or down. The investment component of the insurance contract is managed by Canada Life in a balanced fixed income portfolio. It is broadly based on bonds, commercial real estate, and mortgages, with only 14-18% in equities.

Sheltered Growth of asset ValueIn addition to the guaranteed insurance

value, the contract has an investment component and is entitled to dividends annually as declared by the board of Canada Life. The Income Tax Act contains a specific provision that stipulates investment returns inside insurance contracts are tax exempt while the funds remain inside the contract and when paid out at death. This investment component forms part of the insurance proceeds paid out at death.

Income in RetirementThe investment component is available

for withdrawal during lifetime. In addition, the annual dividends can be paid out during lifetime. In the early years of the contract the corporation can elect to accumulate all income and dividends within the contract to take advantage of the sheltered growth. Later, the corporation can change the election and begin withdrawing cash from the contract and distribute it to the entrepreneur/professional as a dividend.

Transfer on DeathAll cash remaining in the contract

together with the insurance amount is received by the corporation as tax free insurance proceeds. These proceeds, less adjusted cost base if any, can be paid to the estate as a tax free capital dividend. The original savings from the tax deferral have grown tax free and the death benefit can be distributed tax free. Corporate insurance has made the tax deferral permanent – and magnified the estate value.

Participating life insurance with Canada LifeLong-term, stable coverage built on a core of basic guarantees. Choose from:

• Wealth Achiever

• Estate Achiever

For more information on participating life insurance products, contact the British Columbia regional marketing centre at 1-800-663-0413.


At the end of the rainbowLegacy Funds help make your philanthropic dreams come true.

Bill and Manny had definite ideas about what they wanted to do in their retirement.

They wanted to travel. They also wanted to indulge their mutual interest in gardening, opera and art. And, just as important, they wanted to give something back to their community.

At 68 and 72, Bill and Manny are reaping the benefits of almost 40 years together. Forty years of hard work and smart investing. Life is good.

But both men have friends, and friends of friends, who are not having an easy time. Many have not made even the most basic preparations for their “golden years” and are now struggling financially.

“That’s why we decided to start the Rainbow Fund,” says Bill. “It started with our first Will together, on November 6, 1994. We had made money on a couple of properties, and were thinking ahead about what happens to this money when we die.”

“We have no children, and we didn’t want to give money to relatives who we rarely see. We thought of setting up a private foundation. But that proved to be too much work. Then, in 2008, the Will needed to be looked at again. And by that time our plans had become clearer.”

“We had some older friends, and thought ‘What’s going to happen to these people who don’t have a lot of money? One friend of ours lived for many many years in a small apartment in the West End. He didn’t have any money to speak of. He just made ends meet. When he got sick, he was placed in a facility far from home and friends, in a room with a straight, elderly gentleman of a completely different ethnic background — someone he had nothing in

common with. He was very bitter. He died eight months later.”

It was stories like this that re-confirmed Bill and Manny’s plans.

“We decided on trying to create a retirement home for the gay and lesbian community. We wanted to look at something that was doable. Maybe not in our life-time, but do-able. So when we did our Wills in 2008, we included Vancouver Foundation.”

They started a Legacy Fund at Vancouver Foundation that will contribute towards a home for elderly and financially-challenged gays and lesbians who want a sense of community, in their community.

“It’s tough if you’ve been renting all your life,” says Bill. “Living for the late nights and parties, and not putting anything away for the time when you can’t, or don’t want to, work anymore. Manny and I have been very lucky. And we want to help where we can.”

Kristin Helgason, Director of Development and Donor Services at Vancouver Foundation, helped the couple set up their fund. She quotes an old Chinese proverb to explain the concept of legacy giving:

One generation plants the trees… another gets the shade.

“This is the idea of Legacy Giving,” she says enthusiastically. “When you leave a gift to Vancouver Foundation in your Will, you are planting a seed, a seed that with careful tending, will grow into something that can benefit future generations.

“We invest your gift wisely. With expert advice, your legacy fund is invested to grow over time.

“And whether you establish a legacy fund now, or through a gift in your Will, you or your estate will also benefit from the tax deductions.”

Bill and Manny appreciate the flexibility and peace of mind that legacy funding can provide. Once a fund is set up, they can easily change the beneficiaries at any time, without the effort or expense of changing their Will. Also, having a fund pre-established makes it much easier for an Executor to carry out any charitable wishes.

Vancouver Foundation has been helping people leave legacies to their community for almost 70 years.

“I can’t think of any other foundation in the city that would be suitable for what we wanted to do,” says Bill. “There isn’t any really. Certainly not one with the variety, the breadth of offering that Vancouver Foundation has. You can put money into the arts, into medical research. And you could change your plans if you wanted to. Also, I wanted to know where the money was going. Vancouver Foundation has a lot of different components. And we knew there would be over-sight on the money.”

Join the hundreds of generous donors, like Bill and Manny, and start building your legacy today. You’ll find this is not the end of the rainbow. In fact, it’s just the beginning.

To find out more about legacy funds, and how you can start your own, contact: Kristin Helgason LL.B., Director of Development and Donor Services at Vancouver Foundation via e-mail [email protected] or call 604.629.5186 or visit the Foundation website at: www.vancouverfoundation.ca

PHOTO: CLAUDETTE CARRACEDO


What do the designations mean?

Choosing a financial advisor can be one of the most

important decisions you’ll ever make. Start by looking for an advisor who’s acquired the skill, experience and education that comes with a professional designation. Here’s a guide to some of the most highly regarded designations in the financial services industry.

certified Financial Planner®, cFP®CFP® stands for Certified Financial Planner®. The CFP® designation identifies individuals who are dedicated to a high level of professionalism in providing financial planning advice. The CFP® credential assures you that those using it have agreed to adhere to the highest internationally recognized standards of competence and ethical practice as set out by Financial Planners Standards Council (FPSC). The CFP® is an internationally recognized credential held by more than 100,000 people in 19 countries around the world including almost 17,000 in Canada. (Source: http://www.cfp-ca.org).

chartered Life Underwriter, cLU™ A Chartered Life Underwriter (CLU™) is a financial advisor with advanced knowledge in wealth transfer and estate planning. The CLU™ curriculum is comprised of four courses in Financial Planning Fundamentals, Contemporary Practices in Financial Planning, Comprehensive Practices in Risk & Retirement Planning and Wealth Management and Estate Planning. The last three courses that lead to the CLU™

designation are comprised of Advanced Taxation, Law, and Applied Estate Planning. The CLU™ designation is internationally recognized in financial services industry and is respected by clients and other professions. The CLU™ designation is 80 years old. The CLU™ designation is recommended to financial advisors who want to meet the financial needs of high net worth clients. The CLU™ designation program is available through Advocis and the CLU™ Institute.

chartered Financial consultant, cH.F.c. A Chartered Financial Consultant (CH.F.C.) is a financial advisor with advanced knowledge in wealth accumulation and retirement planning.

Registered Financial Planner, R.F.P. A Registered Financial Planner is a designation awarded annually by the Institute of Advanced Financial Planners (IAFP) to its members who have met and


1 Ad Name: Foundation 2 Media: Business in Vancouver (planning supplement) 3 PO#: A2012-02534 Size: 1/2 pg, 7.1 x 4.82 5 Colour: CMYK 6 Comments: 7 Artwork Deadline: Dec 4 2012

BCIT matters.

Wherever you are, a BCIT grad is making an impact.

Support the future generation of BC’s workforce with a gift in your will to the BCIT Foundation.

Contact Pommashea Noel-Bentley at 778.928.2200.

bcit.ca/foundation

maintained the professional standards as established by the Institute. By earning the R.F.P. designation, IAFP members demonstrate to their clients and their peers that they are highly competent professionals who actively practice a comprehensive financial planning process

Registered Health Underwriter, RHU A Registered Health Underwriter (RHU) is an advisor with advanced knowledge in, critical illness, long term care and employee benefits. The RHU advisor has the education and specialized knowledge to provide strategic living benefits advice in order

to meet their clients’ personal, business and estate planning needs. The course consists of two semesters and is available through Advocis.

Registered Employee Benefits consultant, REBc An advisor with an REBC designation is versed in group insurance programs, planning for retirement and employee benefits

In addition to a designation, you should insist that your advisor belong to a professional association such as Advocis (The Financial Advisors Association of Canada). Advocis is committed to helping its members more effectively serve their clients. Advocis members are dedicated professionals and are required to either possess or be on track to earning a recognized professional designation.

To protect consumers, Advocis also presses governments, regulators, and policy makers to require recognized professional

designations of those holding themselves out as financial advisors. Consumers need to know who is qualified to provide appropriate advice, where to get that advice, and where to find redress outside of the costly court system.

The more than 10,000 Advocis members across Canada adhere to an established Code of Professional Conduct, subscribe to best practices, participate in ongoing competency-based continuing education requirements, and maintain appropriate levels of professional liability insurance. That’s what being an Advocis member means. What does it mean to you, as a consumer? It means that you can have confidence in your advisor knowing that your best interests will always be the driving force in any advice giving or product transaction.

For more information about Advocis, visit www.advocis.ca.

choose...i Integrity

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BENEFITS OF BEING A SPONSOR WITH ADVOCIS GREATER VANCOUVERSponsoring with Advocis Greater Vancouver, gives you and your company access to many of the country’s best financial advisors and planners.

Advocis members represent a broad spectrum of the financial services industry, including insurance, investments and securities, and they work closely with their clients in the areas of financial, retirement, estate and succession planning. Our advisors and planners consistently strive to improve and enhance their practical and technical knowledge by attending a variety of industry events and functions-the result is that they, more than any other group, have their finger on the country’s financial pulse.

Benefits of Sponsoring:

Vancouver chapter is a well-connected community of approximately 1,000 financial advisors, plus our members are active participants in their local communities

small business owners and therefore searching for companies that can improve business efficiencies in a cost effective manner

planners deal on a daily basis with scores of Canada’s best companies in the financial services industry-let them carry your message and extend your brand recognition

Advocis’ financial advisors and planners routinely speak to large numbers of individuals, business owners and community leaders, which makes them beneficial business contacts ready and able to help you expand your network

Advocis Greater Vancouver

www.advocisvancouver.ca

Advocis®, CLU® and APA® are trademarks of The Financial Advisors Association of Canada.

[email protected]


What Is A Will?

A will is a legal document, which sets out your wishes regarding

the administration and distribution of your estate and gives powers to your Executor to carry out those wishes. Your Will does not take effect until you die so until then, you are free to deal with your assets and change the terms of your Will or revoke it completely as long as you are mentally competent. Changes in your family or legislation relating to taxation, Wills and estate can have an impact on your Will so it is important to review it on a regular basis to make sure that it is up to date and still reflects your wishes. The will speaks from the moment immediately before death.

Why do i need a will?Making a Will is the only way

in which you can be sure that the assets you have worked so hard to accumulate can be distributed to the heirs/beneficiaries you choose, in a timely and tax efficient manner. The terms and conditions you set out in your Will are subject to provincial laws regarding family law and dependents relief.

Planning your Will involves decisions, including the choice of Executors, cash legacies to individuals or charities, specific legacies of personal items, provision for your spouse and minor children. If you own or operate a successful business, it is important to give careful consideration to the orderly succession of the ownership of the business, perhaps to the most logical successors, other family members or key employees. Canadian income tax and capital gains tax arising on death as well as probate fees in some jurisdictions are other important factors to consider in planning your Will. Careful planning can significantly reduce these liabilities on death.

common terms:TESTaToR: Person making Will,

if maleTESTaTRIX: Person making Will,

if femaleEXEcUToR: Person charged with

duty to realize and distribute estate, if male

EXEcUTRIX: Person charged with duty to realize and distribute estate, if female

TRUSTEE: Person who holds and administers estate in accordance with the will provisions commonly used to refer to both Executor/Executrix and Trustees synonymously

BENEFIcIaRy: Person who inheritsBEQUEST: Gift made to a Heir/

beneficiary

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INTESTaTE: An individual who dies without a valid will is considered intestate

What happens if you die intestate?(I.e. without a will, your will has

been revoked, or it is not properly signed and witnessed and is therefore invalid)• No one is authorized to begin

handling your estate. Applications must be filed in Court. Court appearances may be necessary.

• The estate will be distributed according to the provisions of the Estate Administration Act, not deceased’s intentions.

• Persons entitled to administer the estate may be difficult to locate, have little interest or be incompetent.

• Adverse tax consequences.• Person must apply for right to be

guardian of children.• Public Trustee may become involved

with a minor child’s interests.• Cost of administration is generally

higher.• Separated spouses, common law

spouses and illegitimate children will have to apply to receive any benefit from the estate.

How is a will revoked? A will is revoked by:

• Execution of a new will• A written declaration that it is

revoked• Burning, tearing or other destruction

with the intent to revoke • And further, if after making a will,

there is a judicial separation, decree of divorce, or the marriage is found to be a nullity, the Wills Act states that the will is to be read as if the surviving spouse predeceased the testator. Therefore, the spouse cannot be executor and any gifts are invalid.

When should you review your will?• After marriage, divorce, or separation• On death of a spouse or beneficiary• When financial circumstances change• When you change jurisdictions -

each province has jurisdiction over property within it and the laws vary

• Periodically consult your lawyer or accountant re changes in the law, particularly tax law

• When you are developing an overall financial plan

What are the advantages of a professionally drawn will?• Provides an opportunity to review

and discuss your wishes with experienced third party to ensure that what you intend is reflected in the will

• Ensures that it is properly executed

• Consider the impact of such legislation as the Wills Variation Act and the Family Relations Act

• A professionally drawn up will allows you to include advanced features such as the setting up of a trust in order to control the timing of the distribution of your estate assets

Statistics show that more than 50% of Canadians have not prepared a Will for a number of reasons, some of which are:• They believe they do not have a

sufficient estate or have nothing to leave

• They believe that their family will receive everything anyway

• They are afraid that after making a Will they will die

• They don’t want anyone to know the details of their estate or affairs

No matter which one of these excuses is yours, it is not a sufficient reason to leave your loved ones with the problem of dealing with your affairs, without the benefit of your written instructions in the form of a Will.

Each province has laws on intestate succession, which clearly outline what happens to your Estate if you die without a Will (intestate). These laws are different for each province. Included in this guide is a separate list of all provincial

current Intestate Succession Laws. The handling of an Estate in each province is different as the many laws concerning these matters are all under provincial jurisdiction. Some of the Provincial laws, which may need consideration, are:• Matrimonial Property Act• Family Law Act• Intestate Succession Act• Devolution of Estates Act• Trustees/Public Trustees Act• Estate Administration Act• Dependents Relief Act• Wills Act• Survivorship Act• Human Tissue Act• And others

*A detailed examination of the above legislation is beyond the scope of this guide

PurposeThe purpose of this guide is to

provide you with a list of the things you will need to prepare and consider prior to seeing your lawyer or notary to have your Will drafted. When you are prepared with the details of your assets, liabilities, wishes and decisions, the actual meeting with your legal advisor to prepare your Will can go much more smoothly and, hopefully, will be less expensive. This step-by-step guide should help you in that preparation.


Biggest registered foundations in B.C.RANKED BY | Total assets in 2012

Rank '12 OrganizationAddress

Yearfounded

Area of focus Top staff executive Top volunteerexecutive

Revenue '12Expenditures '12Liabilities '12

Assets '12

1Vancouver Foundation

555 Hastings St W Suite 1200, Vancouver V6B 4N6P: 604-688-2204 F: 604-688-4170www.vancouverfoundation.ca

1943 Vancouver Foundation recognizes the complexity of communities and fundsa wide array of areas: animal welfare; arts and culture; children, youth andfamilies; education; environment; health and social development; medicalresearch; youth philanthropy and youth homelessness

Faye Wightman,president and CEO

Gordon

MacDougall, boardchair

$46.79 million1

$45.33 million1

$1.54 million1

$748.39 million1

2Victoria Foundation

645 Fort St Suite 109, Victoria V8W 1G2P: 250.381.5532 F: 250.480.1129www.victoriafoundation.bc.ca

1967 A pool of charitable gifts to create permanent, income-earning funds tobenefit the community, supporting charities in the arts, community services,education, environment, health and recreation

Sandra Richardson,CEO

Deirdre Roberts,board chair

$17.56 million1

$12.11 million1

$52.06 million1

$180.69 million1

3Apotex Foundation

700 Georgia St W Suite 2700, Vancouver V7Y 1B8P: 416-749-9300 F: 416-401-3812 NP

1984 Scholarships, bursaries, awards, hospitals, places of worship NP Bernard Sherman,chair and CEO,Apotex Inc.

$2.15 million$1.43 million$10,000

$107.43 million

4John Volken Foundation

6911 King George Hwy, Surrey V3W 5A1P: 604-592-3001 F: 604-592-3004www.johnvolkenfoundation.org

1998 Operators of Welcome Home Society, Lift the Children, Welcome Home forChildren, PricePro and PriceCo to provide disadvantaged people with whatthey need to become self-sufficient, contributing members of society

John Volken, founder,Bil Koonar

NP $9.09 million1

$6.28 million1

$11.5 million1

$101.19 million1

5Jim Pattison Foundation

1067 Cordova St W Suite 1800, Vancouver V6C 1C7P: 604-688-6764 F: 604-694-6900 www.jimpattison.com

1994 The principal gifts made by the charity were in the areas of medical/hospitalcapital programs, Christian independent schools and other religiousactivities

NP Jim Pattison, chair $2.52 million1

$8.08 million$5.06 million1

$95.87 million1

6Lotte and John Hecht Memorial Foundation

325 Howe St Suite 502, Vancouver V6C 1Z7P: 604-683-7575 F: 604-683-7580 www.hecht.org

1962 Medical research, economic education and assistance to recipients in need.Investigation and support of complementary and alternative medicine

Angela Webster,executive director

NP $18.64 million1

$18.15 million1

$6.16 million1

$87.64 million1

7Sherman Foundation

700 Georgia St W Suite 2700, Vancouver V7Y 1B8P: NP F: NP NP

1999 Funds various religious, education and health organizations in Canada Bernard Sherman,chair

NP $876,089$184,469$11,000

$81.25 million

8Diamond Foundation

105 Commercial Dr N, Vancouver V5L 4V7P: 604-255-9301 F: 604-255-3434 NP

1984 Donations to qualified donees Jill Diamond,executive director

Gordon Diamond,president

$12.73 million1

$12.27 million1

$114,3891

$75.23 million1

9Audain Foundation

1333 West Broadway Suite 900, Vancouver V6H 4C2P: 604-877-1131 F: 604-871-4280 NP

1997 Donations to qualified donees in support of the visual arts NP Michael Audain $11.12 million1

$3.59 million1

$9,3001

$75.08 million1

10Tula Foundation

PO Box 309, Heriot Bay V0P 1H0P: 519-272-9982 F: NP NP

2001 Nature and habitat-conservation groups, research and universities andcolleges

NP Eric Peterson,founder andpresident


$74.07 million1

11Aqueduct Foundation

650 Georgia St W Suite 510 PO Box 11538, Vancouver V6B 4N7P: 604-718-7100 F: 604-718-7152www.aqueductfoundation.ca

2006 Aqueduct receives gifts from individuals across Canada and makes grants toa wide variety of charities at the recommendation of our donors

NP Rodney

Scheuerman, chair,Terry Didus,secretary, James

Parks, treasurer

$36.99 million1

$31.06 million1

$696,3271

$68.33 million1

12Coast Conservation Endowment Fund Foundation

409 Granville St Suite 1455, Vancouver V6C 1T2P: 604-684-0223 F: NP www.coastfunds.ca

2005 Long-term fund designed to support activities that maintain or improve theGreat Bear Rainforest

Scott Rehmus, CEO Merv Child, boardchair

$1.4 million1

$2.83 million1

$391,3171

$67.22 million1

13Vancity Community Foundation

815 Hastings St W Suite 510, Vancouver V6C 1B4P: 604-877-7553 F: 604-709-6909www.vancitycommunityfoundation.ca

1989 Primary focus in areas of nonprofit social enterprise, community owned realestate and collaborative approaches to change

Derek Gent, executivedirector

Cam Brewer, Sean

Markey, co-chairs$10 million$7.91 million$441,937

$45.13 million

14Loyalty Foundation

1500 Georgia St W Suite 1555, PO Box 62, Vancouver V6G 2Z6P: 604-683-7006 F: 604-683-5676 NP

2003 Gifts to qualified donees NP Greg Kerfoot, Lisa

Kerfoot, Sandra

Hancock, directors

$887,418NP$4,383

$35.21 million

15Access Foundation

1040 Georgia St W Suite 850, Vancouver V6E 4H1P: NP F: NP NP

1973 Supports performing arts education for disadvantaged children and youthand assistance to disadvantaged individuals living in poverty

NP Robert Bentall,board chair

$8.67 million$900,9841

$7,8731

$34.99 million1

16Sitka Foundation

650 Georgia St W Suite 510, Vancouver V6B 4N7P: 604-718-7119 F: 604-718-7152 www.sitkafoundation.org

2008 Support organizations that advance land and nature conservation, invest incommunity projects and groups globally, and provide leadership instewardship and environmental education

Pauline Megannety,executive director

Ross Beaty,president

$1.64 million1

$1.04 million1

$66,0011

$34.89 million1

17Mr. and Mrs. P.A. Woodward's Foundation

1155 Pender St W Suite 710, Vancouver V6E 2P4P: NP F: NP NP

1967 Providing grants to charitable organizations in B.C. for projects that benefitthe health of British Columbians

NP Leo Sauve, president $1.09 million1

$1.08 million1

NP

$29.09 million1

18Rix Family Foundation

PO Box 514, Nanaimo V9R 5L5P: 604-737-7224 F: 604-737-7204 NP

1977 Private foundation supporting universities and colleges, museums, galleriesand concert halls and hospitals

NP Laurie Rix, president $1.15 million1

$1.5 million1

$2,0001

$28.11 million1

19Central City Foundation

304 Cordova St W Suite 206, Vancouver V6B 1E8P: 604-683-2263 F: 604-683-2205www.centralcityfoundation.ca

1907 Improving the lives of people in need in Vancouver's inner city by bringingtogether neighbours helping neighbours build a community of hope

Jennifer Johnstone,president and CEO

Julie McGill, BoardChair

$1.41 million$1.83 million$7.36 million

$26.67 million

20Rick Hansen Foundation

3820 Cessna Dr Suite 300, Richmond V7B 0A2P: 604 295 8149 F: 604 295 8159 www.rickhansen.com

1989 Finding a cure for spinal cord injury and improving the quality of life for thosewith spinal cord injury and related disabilities

Catherine Ruby, CFO Rick Hansen, Lyall

Knott, foundationboard co-chairs


$26.6 million

Sources: Interviews with charities that responded to requests for information and BIV research of Canada RevenueAgency T3010 filings. NR Not ranked NP Not provided 1 - 2011 figure


Biggest health charitable organizations in B.C.RANKED BY | 2012 expenditures


Yearfounded

Area of focus Top staff executive Top volunteer executive Assets '12Liabilities '12Revenue '12

Expenditures '12/'11

1BC Children's Hospital Foundation938 28th Ave W, Vancouver V5Z 4H4P: 604-875-2444 F: 604-875-2596 www.bcchf.ca

1949 Pediatric health care Teri Nicholas, president andCEO

Kevin Bent, board chair $236.77 million$102.75 million$81.9 million

$80.43 million$74.88 million

2VGH & UBC Hospital Foundation855 12th Ave W, Vancouver V5Z IM9P: 604-875-4676 F: 604-875-5433www.worldclasshealthcare.ca

1980 Raising funds for VGH, UBC Hospital, GF Strong Rehab Centre andVancouver Coastal Health Research Institute

Ron Dumouchelle,president and CEO

David Rowntree, boardchair



3BC Cancer Foundation686 Broadway W Suite 600, Vancouver V5Z 1G1P: 604-877-6040 F: 604-877-6161www.bccancerfoundation.com

1935 BC Cancer Foundation is the bridge that connects philanthropicsupport and research breakthroughs in cancer knowledge

Douglas Nelson, presidentand CEO

Jess Ketchum, board chair $78.55 million$4.21 million$50.45 million


4Canadian Cancer Society, BC and Yukon Division565 10th Ave W, Vancouver V5Z 4J4P: 604-872-4400 F: 604-879-4533 www.bc.cancer.ca

1938 Research and enhancing the quality of life for people living withcancer

Barbara Kaminsky, CEO Lorraine Grant, board chair $35.1 million$6.78 million$39.12 million


5Terry Fox Foundation46165 Yale Road Suite 303, Chilliwack V2P 2P2P: 604-701-0246 F: 604-701-0247 www.terryfox.org

1993 Raises funds for use in cancer research, primarily through theannual Terry Fox Run, National School Run Day and the GreatCanadian Hair "Do" Event

Donna White, provincialdirector, B.C. and Yukon

NP $92.9 million$930,897$25.84 million


6Heart and Stroke Foundation, BC & Yukon office1212 Broadway W Suite 200, Vancouver V6H 3V2P: 604-736-4404 F: 604-736-8732 www.heartandstroke.bc.ca

1955 A volunteer-based health charity that leads in eliminating heartdisease and stroke and reducing their impact through theadvancement of research and its application, the promotion ofhealthy living and advocacy

Diego Marchese, CEO, B.C.and Yukon

Peter Scott, board chair $21.09 million1

$6.31 million1

$21.88 million1

$20.08 million1

$20.08 million

7Rick Hansen Institute818 10th Ave W Suite 6400, Vancouver V5Z 1M9P: 604-707-2100 F: 604-707-2121www.rickhanseninstitute.org

2009 Committed to accelerating the translation of discoveries andbest practices into improved treatments for people with spinalcord injuries

Bill Barrable, CEO Bernie Bressier, board chair $12.06 million$12.04 million$17.7 million


8Canuck Place Children's Hospice1690 Matthews Ave, Vancouver V6J 2T2P: 604-731-4847 F: 604-739-4376 www.canuckplace.org

1995 North America's first free-standing children's hospice Margaret McNeil, CEO John Rose, board chair $14.57 million$7.26 million$9.35 million


9Peace Arch Hospital Foundation15521 Russell Ave, White Rock V4B 2R4P: 604-535-4520 F: 604-541-5820www.peacearchhospital.com

1988 Provides funding for the purchase of new and replacementcapital equipment at Peace Arch Hospital

Jackie Smith, executivedirector

Graham Cameron, boardchair



10St Paul's Hospital Foundation1081 Burrard St Suite 178, Vancouver V6Z 1Y6P: 604-682-8206 F: 604-806-8326 www.helpstpauls.com

1980 Raises funds for innovation in patient care and research at St.Paul's, Vancouver's downtown teaching hospital

Dick Vollet, president andCEO

David Poole, board chair $40.86 million$317,803$15.99 million


11BC Lung Association2675 Oak St, Vancouver V6H 2K2P: 604-731-5864 F: 604-731-5810 www.bc.lung.ca

1922 To improve lung health through research, education, advocacyand community programs

Scott McDonald, executivedirector

Muff Hackett, board chair $13.11 million$2.32 million$6.33 million


12Alzheimer Society of BC828 8th Ave W Suite 300, Vancouver V5Z 1E2P: 604-681-6530 F: 604-669-6907 www.alzheimerbc.org

1981 Support services and education programs locally and provinciallyto help Canadians who are affected by Alzheimer's disease andrelated dementias

Jean Blake, CEO Harry Diemer, board chair $5.56 million$1.35 million$7.01 million


13Lions Gate Hospital Foundation231 15th St E, North Vancouver V7L 2L7P: 604-984-5785 F: 604-984-5786 www.lghfoundation.com

1981 Raises funds to support the highest quality health care on theNorth Shore for 10 facilities and programs including Lions GateHospital

Judy Savage, president Clark Quintin, board chair $37.39 million$2.17 million$11.38 million


14Canadian Mental Health Association, BC Division1111 Melville St Suite 1200, Vancouver V6E 3V6P: 604-688-3234 F: 604-688-3236 www.cmha.bc.ca

1967 Exists to promote the mental health of British Columbians andsupport the resilience and recovery of people experiencingmental illness

Bev Gutray, CEO Judith Moore, board chair $5.26 million$3.83 million$4.67 million


15The Arthritis Society, BC & Yukon Division1600 6th Ave W Suite 201, Vancouver V6J 1R3P: 604-714-5550 F: 604-714-5555 www.arthritis.ca

1948 Provides leadership and funding for research, advocacy andsolutions to improve the quality of life for over 600,000 men,women and children in BC and the Yukon living with arthritis

Nancy Roper, executivedirector

Drew McArthur, chair,divisional advisory board



16Kelowna General Hospital Foundation2268 Pandosy St, Kelowna V1Y 1T2P: 250-862-4438 F: 250-862-4377 www.kghfoundation.com

1980 Independent, volunteer-driven charitable organizationcommitted to enhancing the delivery of health care to thepatients of Kelowna General Hospital and its associated facilities

Doug Rankmore, CEO Karen Borring-Olsen, boardchair

$11.32 million$239,208$4.66 million


17Children's Health Foundation of Vancouver Island2

2400 Arbutus Rd, Victoria V8N 1V7P: 250-519-6977 F: 250-519-6715 www.childrenshealthvi.org

1985 Supports the physical, mental and social well-being of children,youth and families primarily on Vancouver Island and the GulfIslands in B.C. by raising, investing and stewarding funds

Ron Hewitt, CEO Margot McLaren Moore,board chair



18Spirit of the North Healthcare Foundation1475 Edmonton St, Prince George V2M 1S2P: 250.565.2515 F: 250.565.2595 www.spiritofthenorth.ca

1991 To facilitate philanthropic investment in the enhancement ofhealth care throughout the referral area of the UniversityHospital of Northern BC, Prince George

Jessica Aldred, CEO Darren Masse, president $3.68 million$1.82 million$2.47 million


19Positive Living BC1107 Seymour St Suite 200, Vancouver V6B 5S8P: 604-893-2200 F: 604-893-2251 www.positivelivingbc.org

1986 Treatment information, support services, advocacy andresources for people living with HIV/AIDS

Ross Harvey, executivedirector

John Bishop, chair $322,825$359,324$3.15 million


20Victoria Hospice and Palliative Care Foundation1952 Bay St 4th floor Suite 400, Victoria V8R 1J8P: 250-952-5720 F: 250-888-2678 www.victoriahospice.org

1997 Fundraising for palliative/end-of-life care services Wayne Peterson, executivedirector

Peter Maddaugh,president, board chair

$5.18 million$726,904$3.43 million


Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Notprovided 1 - 2011 figure 2 - Formerly Queen Alexandra Foundation for Children


Biggest social charitable organizations in B.C.RANKED BY | 2012 expenditures


Yearfounded

Area of focus Top staff executive Number of staff '12/'11 Assets '12Liabilities '12Revenue '12

Expenses anddistributions '12/'11

1S.U.C.C.E.S.S.1

28 Pender St W, Vancouver V6B 1R6P: 604-408-7229 F: 604-408-7234 www.successbc.ca

1973 Social services and training, health care, housing, and foundation Queenie Choo, CEO Christine Brodie,board chair



2YMCA of Greater Vancouver2

1166 Alberni St Suite 801, Vancouver V6E 3Z3P: 604-681-9622 F: 604-688-0220 www.vanymca.org

1886 We are a charity dedicated to strengthening the foundations of community.We tackle three key causes: vulnerable families and children; unhealthylifestyles and Isolation

Stephen Butz,president and CEO

Mary Beck, boardchair

$65.31 million3

$31.87 million3

$35.91 million3

$34.36 million3

$32.51 million4

3United Way of the Lower Mainland4543 Canada Way, Burnaby V5G 4T4P: 604-294-8929 F: 604-293-0010 www.uwlm.ca

1932 United Way prevents social problems from becoming crises. We are tacklingthe root causes of some of our community's greatest challenges — childpoverty, bullying and seniors isolation.

Michael McKnight,president and CEO

Yuri Fulmer, boardchair



4Greater Vancouver Community Services Society1212 West Broadway Suite 500, Vancouver V6H 3V1P: 604-737-4900 F: 604-737-2922 www.gvcss.bc.ca

1986 Home support services for seniors, the disabled and financially disadvantaged Ron McLeod, CEO Lynn Carter,president

$7.05 million$4.05 millionNP


5Options Community Services Society9815 140th St, Surrey V3T 4M4P: 604-584-5811 F: 604-584-7628 www.options.bc.ca

1969 Social services organization with more than 50 programs and services forfamilies and children, youth, employment, women in crisis, counsellingprograms, for people with mental health issues, programs for the homelessand programs for immigrant newcomers

Christine Mohr,executive director

John Russell, boardchair



6Family Services of Greater Vancouver1638 Broadway E Suite 201, Vancouver V5N 1W1P: 604-731-4951 F: 604-733-7009 www.fsgv.ca

1928 Creating brighter tomorrows for children, youth, adults and families across theLower Mainland

Caroline Bonesky,CEO

Joanne Hausch,board chair



7Immigrant Services Society of BC333 Terminal Ave Suite 501, Vancouver V6A 2L7P: 604-684-2561 F: 604-684-2266 www.issbc.org

1972 Immigrant services, language college, employment and career services Patricia Woroch, CEO ManchanSonachansingh,president



8PLEA Community Services Society of BC3894 Commercial St, Vancouver V5N 4G2P: 604-871-0450 F: 604-871-0408 www.plea.ca

1979 Families, youth and adults Timothy Agg,executive director

David Duncan,president



9YWCA Metro Vancouver535 Hornby St, Vancouver V6C 2E8P: 604-895-5800 F: 604-684-9171 www.ywcavan.org

1897 To touch lives and build better futures for children, youth and women throughadvocacy and integrated services that foster economic independence,wellness and equal opportunities

Janet Austin, CEO Karen Gilmore,board chair

$32.29 million3

$7.88 million3

$18.8 million3

$17.45 million3

$17.45 million

10Association of Neighbourhood Houses of BC3102 Main St Suite 203, Vancouver V5T 3G7P: 604-875-9111 F: 604-875-1256 www.anhbc.org

1894 Community and social services Mamie Hutt-Temoana, CEO

Darlene Dean,president



11Abbotsford Community Services2420 Montrose Ave, Abbotsford V2S 3S9P: 604-859-7681 F: NPwww.abbotsfordcommunityservices.com

1969 Social services organization with 70 programs serving young families andchildren, youth, legal aid, a food bank with a free dental clinic, recycling depot,the immigrant and multi-cultural community, seniors and people withdevelopmental disabilities

Rod Santiago,executive director

Virgina Cooke, boardpresident

$7.88 million3

$2.32 million3

$16.66 million3

$17.3 million3

$17.3 million

12Variety - The Children's Charity4300 Still Creek Dr, Burnaby V5C 6C6P: 604-320-0505 F: 604-320-0535 www.variety.bc.ca

1965 Children who have special needs Barbara Hislop,executive director

Dave McConachie,president and chiefbarker

$20.12 million3

$271,8843

$14.26 million

$14.65 million3

$14.65 million

13Union Gospel Mission Foundation601 Hastings St E, Vancouver V6A 1J7P: 604-253-3323 F: 604-253-3496 www.ugm.ca

1940 Provides meals, emergency shelter, free clothing and personal care products,alcohol and drug recovery programs, education and employment programsand abstinence-based housing

Bill Mollard,president

Teresa BlackHughes, board chair

$25.89 million3

$18.06 million3

$15.19 million3

$14.43 million3

$14.43 million

14St James Community Services Society329 Powell St, Vancouver V6A 1G5P: 604-606-0300 F: 604-606-0309 www.sjcss.com

1951 Housing, health and social services to the most vulnerable in the community Jonathan Oldman,executive director

Marleen Morris,president



15Covenant House Vancouver575 Drake St, Vancouver V6B 4K8P: 604-685-5437 F: 604-685-5324 www.covenanthousebc.org

1997 Crisis shelter, outreach, community services, transitional living and supportservices for homeless youth

Krista Thompson,executive director

Jeffrey Bacha, boardchair

$9.25 million3

$6.05 million3

$11.62 million3

$11.43 million3

$11.43 million

16Jewish Federation of Greater Vancouver950 41st Ave W Suite 200, Vancouver V5Z 2N7P: 604-257-5100 F: 604-257-5110 www.jewishvancouver.com

1986 Building a strong, vibrant and enduring Jewish community on the LowerMainland, in Israel and throughout the world

Mark Gurvis, CEO Mitchell Gropper,board chair



17SHARE Family and Community Services25 King Edward Ave Suite 200, Coquitlam V3K 4S8P: 604-540-9161 F: 604-540-2290 www.sharesociety.ca

1972 Social services and programs to the Tri-cities including a food bank, earlyintervention therapy for children with developmental delays or disabilities,housing, counselling, addictions and gambling counselling, early education forpreschool children and support for vulnerable families

Martin Wyant, CEO Lynn Pelletier, boardchair



18Quest Outreach Society (Quest Food Exchange)PO Box 2156, Station Main Terminal, Vancouver V6B 3V3P: 604-876-6626 F: 604-876-6526 www.questoutreach.org

1990 Rescuing food, reducing hunger ElizabethCrudgington,executive director

Peter Brasso, boardpresident

$2.5 million3

$1.08 million3

$5.8 million3

$5.84 million3

$5.84 million

19United Way of Greater Victoria1144 Fort St, Victoria V8V 3K8P: 250-385-6708 F: 250-385-6712 www.uwgv.ca

1967 Funds social service agencies through a granting process to create andimplement programs and services which address: housing for homeless, low-income and working poor; mental health and addictions and family andcommunity well-being

Linda Hughes, CEO Peter Lockie, boardchair



20Collingwood Neighborhood House Society5288 Joyce St, Vancouver V5R 6C9P: 604-435-0323 F: 604-451-1191 www.cnh.bc.ca

1985 Working collaboratively in the community to develop and support inclusive,innovative, sustainable initiatives and services

Jennifer Gray-Grant,executive director

Julie Linkletter,board president



Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Notprovided 1 - Includes SUCCESS, SUCCESS Multi-level Care Society, and SUCCESS Foundation. SUCCESS Group 2 - Fiscal yearends December 31 3 - 2011 figure 4 - 2010 figure

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Biggest educational charitable organizations in B.C.RANKED BY | Ranked by 2012 expenditures


Yearfounded



1Vancouver Aquarium Marine Science Centre

845 Avison Way, Vancouver V6G 3E2P: 604-659-3474 F: 604-659-3515 www.vanaqua.org

1956 Self-supporting, non-profit association dedicated to effecting theconservation of aquatic life through display and interpretation,education, research and direct action

John Nightingale, president Margot Spence, boardchair

NPNP$29.42 million1

$29.74 million1

$29.74 million

2Vancouver Art Gallery

750 Hornby St, Vancouver V6Z 2H7P: 604-662-4700 F: 604-682-1086 www.vanartgallery.bc.ca

1931 Non-profit organization with more than 10,000 artworks in itspermanent collection

Kathleen Bartels, director George Killy, board chair $57.7 million1

$57.7 million1

$14 million1

$14.81 million1

$14.81 million

3Knowledge Network

4355 Mathissi Pl, Burnaby V5G 4S8P: 604-431-3200 F: 604-431-3387 www.knowledgenetwork.ca

1981 B.C.'s public education broadcaster Rudy Buttignol, presidentand CEO

Nini Baird, board chair $14.83 million$4.81 million$11.71 million

$10.63 million

$10.08 million

4Science World British Columbia

1455 Quebec St, Vancouver V6A 3Z7P: 604-443-7440 F: 604-443-7430 www.scienceworld.ca

1977 Education and leadership in science and technology Bryan Tisdall, president andCEO

Andrew Harries, boardchair


$9.84 million

$10.44 million

5Arts Umbrella

1286 Cartwright St, Vancouver V6H 3R8P: 604-681-5268 F: 604-681-5285 www.artsumbrella.com

1979 Arts education for young people Lucille Pacey, president andCEO

Richard Prokopanko,board chair

$3.52 million2

$1.66 million2

$4.98 million1

$5.06 million1

$5.06 million

6Western Canadian Universities Marine Sciences Society

PO Box 100 Bamfield Marine Sciences, Bamfield V0R 1B0P: 250-728-3301 F: NP www.bms.bc.ca

1972 Operates the Bamfield Marine Sciences Centre, a permanent basefor marine and coastal-oriented field operations on the west coastof Canada

Bradley Anholt, director NP $6.67 million1

$2.5 million1

$3.86 million1

$3.65 million1

$3.65 million

7BC Agriculture in the Classroom Foundation

1767 Angus Campbell Rd, Abbotsford V3G 2M3P: 604-556-3088 F: 604-556-3030 www.aitc.ca/bc

1996 Working with educators to bring B.C.'s agriculture to our students Linday Babineau, executivedirector

Sarah Ryall, president $6.01 million1

$5.05 million1

$3.22 million1

$3.34 million1

$3.34 million

8BC Technology for Learning Society

6741 Cariboo Rd Suite 206, Burnaby V3N 4A3P: 604-250-9936 F: NP www.cfsbc.ca

1995 To practise ethical recycling of computer waste by providingrefurbished computers for students and learners of all ages, andgive youth interns job skills in hardware repair, team-building andmentorship

Mary-Em Waddington,executive director, Wayne

Johnson, operationsmanager

NP $944,994$5,746$2.82 million

$3.1 million

$2.68 million

9Junior Achievement of BC

475 Georgia St W Suite 110, Vancouver V6B 4M9P: 604-688-3887 F: NP www.jabc.org

1955 World’s largest organization dedicated to educating young peopleabout business. Our three educational pillars for student success:work readiness, entrepreneurship and financial literacy

Jan Bell-Irving, presidentand CEO, JA BC

Tim Manning, board chair $2.33 million1

$670,5681

$2.08 million1

$2.01 million1

$1.8 million3

10Columbia Basin Alliance for Literacy

1535 - 14th St RR 4 #2, Invermere V0A 1K4P: 250-342-3210 F: 250-342-9221 www.cbal.org

2001 Literacy services to communities within the Columbia Basin withprograms ranging from early childhood to seniors computers,English as a second language and volunteer tutoring

Ali Wassing, executivedirector

Marilyn Peterson, chair $784,4311

$337,6741

$1.72 million1

$1.65 million1

$1.65 million

11HR MacMillan Space Centre

1100 Chestnut St, Vancouver V6J 3J9P: 604-738-7827 F: 604-736-5665 www.spacecentre.ca

1968 To educate, inspire and evoke a sense of wonder about the universe,our planet and space exploration

Rob Appleton, executivedirector

Eric Pringle, president $221,978$221,978$1.52 million

$1.62 million

$1.6 million

12Forrex Forum for Research and Extension in Natural

Resources Society

235 1St Ave Unit 702, Kamloops V2C 3J4P: 250-371-3746 F: NP www.forrex.org

1998 Founded to help people develop science and knowledge-basedsolutions to complex natural resource challenges

Sasko Despotovski, CEO Grant Parnell, chair $1.11 million$129,403$1.36 million

$1.57 million

$1.96 million

13Leading Edge Endowment Fund

1188 Georgia St W Suite 900, Vancouver V6E 4A2P: 604-438-3220 F: NP www.leefbc.ca

2003 The fund's objective is to encourage social and economicdevelopment in B.C. through university research chairs

Max Cairns, executivedirector

Martha Salcudean, chair $15.28 million$8.06 million$239,250

$1.52 million

$7.01 million

14Irving K. Barber British Columbia Scholarship Society

645 Fort St Suite 1094, Victoria V8W 1G2P: 250-381-5532 F: 250-480-1129 www.bcscholarship.ca

2004 Provides scholarships to students attending post-secondaryinstitutions

NP Hugh Gordon, board chair NPNPNP

$1.47 million1

$1.47 million

15DSRF Down Syndrome Research Foundation

1409 Sperling Ave, Burnaby V5B 4J8P: 604-444-3773 F: 604-431-9248 www.dsrf.org

1995 To empower individuals with Down syndrome to reach their fullpotential throughout life by pioneering and providing educationalprograms and services, grounded in foundational research

Dawn McKenna, executivedirector

Victor Giacomin, boardchair

$3.7 million1

$3.25 million1

$1.64 million1

$1.44 million1

$1.54 million3

16Pacific Centre Family Services Association

345 Wale Rd, Victoria V9B 6X2P: 250-478-8357 F: 250-478-3699www.pacificcentrefamilyservices.org

1979 Dedicated to maintaining outstanding services for the people wework with through education, counselling and creative programming

Mitzi Dean, executivedirector

Bill McElroy, board chair $3.7 million1

NP$1.24 million1

$1.27 million1

$1.27 million

17Vancouver Maritime Museum

1905 Ogden Ave, Vancouver V6J 1A3P: 604-257-8300 F: 604-737-2621www.vancouvermaritimemuseum.com

1958 To educate and preserve the region's maritime heritage Simon Robinson, executivedirector

Craig Beattie, president $1.14 million1

$1.14 million1

$1.05 million1

$997,9171

$997,917

18Disabled Workers Foundation of Canada

4755 Cherry Creek Rd, Port Alberni V9Y 0A7P: 778-421-0821 F: 778-421-0823 www.nidmar.ca

1992 An education, training and research organization committed toreducing the human, social and economic costs of disability

Wolfgang Zimmermann,executive director

Trevor James, Ken

Neumann, co-chairsNPNPNP

$970,7591

$970,759

19Hippy Canada (Home Instruction for Parents of Preschool

Youngsters)

1030 Denman St Suite 125, Vancouver V6E 3W1P: 604-676-8250 F: 6046768250 www.hippycanada.ca

2002 Early childhood education program supporting families and childrenat risk

Debbie Bell, executivedirector

Tim Casgrain, board chair $185,563$186,107$789,915

$906,746

$1.32 million

20People's Law School: The Public Legal Education Society

900 Howe St Suite 150, Vancouver V6Z 2M4P: 604-331-5400 F: 604-331-5401 www.publiclegaled.bc.ca

1974 Our goal is helping people throughout B.C. gain a betterunderstanding of their rights and responsibilities under the law

Terresa Augustine,executive director

Tim Timberg, chair $516,103$244,999$905,000

$888,726

$1.02 million

Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Notprovided 1 - 2011 figure 2 - 2011 estimate 3 - 2010 figure 4 - c/o the Victoria Foundation

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Biggest environmental charitable organizations in B.C.RANKED BY | 2012 expenditures


Yearfounded



1BC Society for the Prevention of Cruelty to Animals (SPCA)1245 7th Ave E, Vancouver V5T 1R1P: 604-681-7271 F: 604-681-7022 www.spca.bc.ca

1895 Dedicated to protecting and enhancing the quality of life fordomestic, farm and wild animals in British Columbia

Craig Daniell, CEO Marylee Davies, president $28.86 million1

$18.14 million1

$28.45 million1


2Tides Canada Foundation163 Hastings St W Suite 400, Vancouver V6B 1H5P: 604-647-6611 F: 866-780-6611www.tidescanadafoundation.org

1999 Our mission is to provide uncommon solutions for the commongood by leading and supporting actions that foster a healthyenvironment and just Canadian society

Ross McMillan, presidentand CEO

Jodi White, board chair $36.26 million1

$7.07 million1

$16.51 million1


3David Suzuki Foundation2211 4th Ave W Suite 219, Vancouver V6K 4S2P: 604-732-4228 F: NP www.davidsuzuki.org

1990 The foundation works through science and education to protectthe diversity of nature and our quality of life now and for thefuture

Peter Robinson, CEO Tara Cullis, president and co-founder, David Suzuki, co-founder, James Hoggan, boardchair

$12.75 million1

$2.47 million1

$8.7 million1

$8.47 million1

$8.47 million

4Pacific Salmon Foundation1682 7th Ave W Suite 300, Vancouver V6J 4S6P: 604-664-7664 F: NP www.psf.ca

1987 To achieve healthy, sustainable and naturally diverse populationsof wild Pacific salmon for generations to come; to promotecollaborative governance of natural resources in B.C. and theYukon to effectively involve communities in decisions affectingPacific salmon

Brian Riddell, president andCEO

Terry Lanigan, board chair $4.81 million1

$3.98 million1

$5.88 million1

$6 million1

$6 million

5The Nature Trust of British Columbia1000 Roosevelt Cres Suite 260, North Vancouver V7P 3R4P: 604-924-9771 F: 604-924-9772 www.naturetrust.bc.ca

1971 The Nature Trust is dedicated to conserving British Columbia'sbiological diversity through securement and management ofecologically significant lands

J. Jasper Lament, CEO Doug Christopher, board chair $88.5 million1

$1.12 million1

$5.66 million1

$5.42 million1

$5.42 million

6Fraser Basin Council Society470 Granville St 1st Floor, Vancouver V6C 1V5P: 604-488-5350 F: 604-488-5351 www.fraserbasin.bc.ca

1998 Advancing sustainability through the Fraser Basin, ensuring socialwell-being supported by a vibrant economy and sustained by ahealthy environment

David Marshall, executivedirector

Charles Jago, board chair $4.67 million$4.34 million$5.06 million


7Ecojustice Canada Society2

131 Water St Suite 214, Vancouver V6B 4M3P: 604-685-5618 F: 604-685-7813 www.ecojustice.ca

19902 Organization of lawyers and scientists devoted to protecting theenvironment

Devon Page, executivedirector

Cathy Wilkinson, president $3.29 million1

$567,5501

$5.17 million1

$4.66 million1

$4.66 million

8TLC The Land Conservancy of BCPO Box 50054 RPO Fairfield Plaza, Victoria V8S 5L8P: 250-479-8053 F: 250-744-2251 www.conservancy.bc.ca

1997 Protects important habitat for plants, animals and naturalcommunities as well as properties with historical, cultural,scientific, scenic or compatible recreational value

Kathleen Sheppard,director of operations

Alastair Craighead, boardchair

$47.67 million1

$7.32 million1

$5.31 million1

$4.21 million1

$4.21 million

9Ecotrust Canada425 Carrall St Suite 260, Vancouver V6B 6E3P: 604-682-4141 F: 604-682-1944 www.ecotrust.ca

1995 Enterprising non-profit whose purpose is to build theconservation economy in coastal B.C.

Brenda Reid-Kuecks,president

Julia Levy, board chair $3.45 million1

$805,7121

$4.29 million1

$2.87 million1

$2.87 million

10BC Wildlife Federation101 - 9706 188 St, Surrey V4N 3M2P: 604-888-9988 F: 604-888-9933 www.bcwf.bc.ca

1969 Voluntary conservation organization of hunters, anglers andrecreational shooters

Cheryl Johnson, director ofoperations

Bill Bosch, president $1.56 million1

$951,8471

$1.43 million1

$1.4 million1

$1.4 million

11Shaw Ocean Discovery Centre9811 Seaport Pl, Sidney V8L 4X3P: 250-665-7511 F: 778-426-0715 www.oceandiscovery.ca

2005 Our mission is to create advocates for the Salish Sea and for thethe oceans of the world through our live exhibits and interactiveprograms

Angus Matthews, executivedirector

Nancy Barbour, board chair $4.37 million1

$63,2471

$997,1031

$1.31 million1

$1.31 million

12Richmond Animal Protection Society12071 No. 5 Rd, Richmond V7A 4E9P: 604-275-2036 F: NP www.rapsociety.com

1989 Operates two animal shelters in Richmond NP NP $169,4521

$170,0991

$1.11 million1

$1.13 million1

$1.13 million

13Sierra Club of BC Foundation733 Johnson St Suite 304, Victoria V8W 3C7P: 250-386-5255 F: NP www.sierraclub.bc.ca

1969 Wilderness and wildlife protections in legislation, monitoring ofprovincial environmental protections, environmental stewardshipeducation

George Heyman, executivedirector

Doug McArthur, DougMcArthur

$355,0161

$284,6191

$1.07 million1

$1.06 million1

$1.06 million

14Langley Animal Protection Society (LAPS)26220 56th Ave, Aldergrove V4W 1J7P: 604-857-5055 F: 604-857-5057 www.lapsbc.ca

2003 Our mandate is to promote the physical, emotional andpsychological well-being of companion animals in Langley

NP NP $350,7071

$37,6941

$1.09 million1

$997,5331

$997,533

15Langley Environmental Partners Society4700 224 Street, Langley V2Z 1N4P: 604-532-3511 F: 604-534-6593 www.leps.bc.ca

1993 Watershed stewardship: education and outreach, agriculturalstewardship, habitat restoration, community stewardship,wildlife conservation, youth employability skills development

Nichole Marples, executivedirector

Tracy Stobbe, board chair $373,0211

$28,8711

$816,6421

$813,5911

$813,591

16Marmot Recovery FoundationBox 2332 Stn A, Nanaimo V9R 6X9P: 877-462-7668 F: NP www.marmots.org

1998 Works to save the endangered Vancouver Island marmot fromextinction, operating the Marmot Recovery Centre, managing thecaptive breeding program, assisting the wild population andconducting research

Viki Jackson, executivedirector

Jim Walker, board chair $2.46 million1

$95,6031

$771,4241

$758,2791

$758,279

17Raincoast Conservation Foundation2506 Beacon Ave Suite 216, Sidney V8L 1Y2P: 250-655-1229 F: 250-655-1339 www.raincoast.org

1990 Team of conservationists and scientists empowered by researchto protect the lands, waters and wildlife of coastal B.C.

Chris Genovali, executivedirector

Jane Woodland, board chair $2.39 million1

$115,6531

$1.07 million1

$720,1931

$720,193

18WRA Wildlife Rescue Association of BC5216 Glencarin Dr, Burnaby V5B 3C1P: 604-526-2747 F: 604-524-2890 www.wildliferescue.ca

1979 Wildlife rehabilitation and promoting wild animal welfare in urbanenvironments

Glenn Boyle, executivedirector

Craig Fisher, president $1.9 million1

$35,4771

$710,3621

$694,5781

$694,578

19West Coast Environmental Law2006 10th Ave W Suite 200, Vancouver V6J 2B3P: 604-684-7378 F: 604-684-1312 www.wcel.org

1978 Provider of legal information, guidance and support forindividuals and organizations seeking to protect their water,lands and air

Jessica Clogg, executivedirector

Mark Underhill, president $866,900$363,653$805,453

$659,811$659,811

20Critter Care Wildlife Society481 216 St , Langley V2Z 1R6P: 604-530-2064 F: 604-532-2009 www.crittercarewildlife.org

2011 Provides short- and long-term care to native mammal species,and through rehabilitation and public education, helps preventsuffering of injured and orphaned wildlife

Gail Martin, founder andexecutive director

Maureen Binnie, president $437,4401

$10,7371

$613,2131

$562,0161

$562,016

Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Notprovided 1 - 2011 figure 2 - Originally the Sierra Legal Defense Fund

Their

Future is in your Hands

Your Legacy Gift to the B.C. Wildlife Federation will help conserve and protect BC’s sh, wildlife and habitat for present and future generations.

1-888-881-2293www.bcwf.bc.ca


Be the spark!This holiday season, help Canuck Place Light Up Their Lives.

www.canuckplace.org/lightuptheirlives

Light up Their LivesBE A PART OF THE ANNUAL TRADITION

Directory of contributorscontributor contact Email Phone Websiteadvocis Vancouver Emel Tetiker [email protected] 604-641-9657 www.advocisvancouver.caBc cancer Foundation Tracey Brown [email protected] 604-877-6152 www.bccancerfoundation.comBc Wildlife Federation Magdalene Chan [email protected] 604-882-9988

or 1-888-881-2293www.bcwf.bc.ca

British columbia Institute of Technology (BcIT)

Pommashea Noel-Bentley

Pommashea_Noel-Bentley @bcit.ca

778-928-2200 www.bcit.ca/foundation

canada Life Lloyd Litke [email protected] 604-443-8218 www.canadalife.comcanadian cancer Society Toni Andreola [email protected] 604-675-7112 www.cancer.cacanuck Place children’s Hospice Gail Hanney [email protected] 604-731-4847 www.canuckplace.orgcomplete Brokerage Services Chris Disalle [email protected] 604-270-2802 www.cbsinc.cacovenant Family Wealth advisors Marlene Enns [email protected] 604-546-1100 www.covenant.caDesjardins Financial Security Sales Support [email protected] 1-800-685-7223 www.desjardinsfinancialsecurity.comEmpire Financial Group Allison Barton [email protected] 604-232-5557 www.empire.caInvestaflex Financial Group Malcolm Ross

Beverly [email protected] 604-331-2520 www.investaflex.com

Nicola Wealth Management John Nicola [email protected] 604-739-6450 www.nicolawealth.comRichards Buell Sutton LLP Rick Montens [email protected] 604-661-9245 www.rbs.caRonald McDonald House Bc Richard Pass [email protected] 604-736-2957 www.rmhbc.ca Standard Life Sophia Lee [email protected] 604-664-8010 www.standardlife.caVancouver Foundation Craig Hikida [email protected] 604-688-2204 www.vancouverfoundation.caZajac Ranch for children Carmen Zajac [email protected] 604-739-0444 www.zajacranch.comZLc Financial Group Mark Zlotnik

and Michael [email protected] 604-688-7208 www.zlc.net


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