It may seem counter-intuitive to say that giving away money can make smart financial sense, but we’ve found that to be exactly the case!
We all know that there are tax benefits to giving to charitable organizations, but the WAY in which we give can also have a huge impact.
This past year we set up an endowed fund with the Bowen Island Community Foundation. The goal of the newly named “Foxglove Fund” is to provide bursaries for preschool on Bowen Island for families who otherwise could not afford it.
Instead of fundraising every year for this bursary, having an endowment means that the interest earned on the endowment fund is distributed back instead. Ensuring the sustainability of this cause far into the future.
That’s what we call smart finance!