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www.thefamilyoffice.ca

Building a Culture of Philanthropy

First Baptist Church of Calgary Foundation

The Family Office and You

A recent study revealed that 85% of us identified ourselves as highly motivated towards philanthropy. The same study revealed that 82% are prepared to give more to their favorite charity, but did not know of the best way to go about maximizing their donation.

Our primary motivation in giving continues to be benevolence as we recognize we share responsibility for the quality of life in our community, but we also desire to be more personally involved in the giving process. We know that there are tax and estate benefits when we are philanthropic and we want to better understand them.

Philanthropic planning means positioning philanthropy within the context of your overall financial plan. It is generally recognized, that before philanthropy will play a meaningful role in the estate and financial plans of families they must first identify available resources that can be allocated to philanthropy.

The professional counsel required to assist a donor properly incorporate philanthropy into their family plans is beyond the financial ability of most charities to be able to provide. In recognition of the importance of professional counsel and in order to offer this valuable service to our donors and supporters, First Baptist Church has engaged The Family Office.

The Family Office, a Multi-Family Office specializing in "Philanthropic Planning", offers an alternative, proven approach to traditional fund raising by positioning philanthropy within the context of your overall financial profile. Most families who are considering philanthropy are typically interested in one of two different analyses.

#1 "Giving while Living" Analysis - This analysis is designed to assist a family in determining if there are available resources to fund their charitable interest. The analysis quantifies the financial impact (if any) on a family if they have a desire of increasing their current annual giving. We typically make our charitable donations by writing a cheque or donating cash. Due to recent favourable tax legislation, the donation of assets, particularly at the time of a sale can decrease the amount of taxes paid, or increase the amount received by charity. The analysis will recommend the most tax efficient method of funding your charitable interests. 

#2 "Estate Tax & Philanthropy" Analysis - This analysis is designed to assist a family in determining their current and future estate tax liabilities. The analysis quantifies the estate errosion due to taxes and illustrates the impact on your estate of including a charitable gift in your estate to eliminate the estate taxes - in effect, directing money that would be lost in taxes to First Baptist Church.

If you are interested in learning more about how incorporating philanthropy into your families financial & legacy plans, First Baptist Church would like to offer you a number of options.

• Complete a confidential Philanthropy Questionnaire and receive a complimentary "Giving while Living" or "Estate Tax & Philanthropy" Analysis (links).

* Giving While Living - http://www.thefamilyoffice.ca/net/DesktopDefault.aspx?tabindex=0&tabid=367

* Estate Tax & Philanthropy - http://www.thefamilyoffice.ca/net/DesktopDefault.aspx?tabindex=0&tabid=366

• "Attend one of our philanthropy workshops" http://www.thefamilyoffice.ca/net/DesktopDefault.aspx?tabindex=0&tabid=212
• Philanthropy Planning strategies on The Family Office website http://www.thefamilyoffice.ca/net/DesktopDefault.aspx?tabindex=0&tabid=341   A series of articles introducing different opportunities to include philanthropy in our financial decisions.
• Read the white paper on philanthropy called "Building a Culture of Philanthropy - The Opportunity of a Lifetime" published by The Family Office. http://www.thefamilyoffice.ca/net/images/gallery/White%20Paper.pdf
• Telephone consultation with The Family Office philanthropic advisor. Contact Amanda @ 543-1519 to schedule a telephone appointment.
• Email consultation with The Family Office. If you have a question you would like to ask regarding philanthropy abosma@thefamilyoffice.ca. The Family Office will respond, in confidence to your question.
• Visit The Family Office website section on Philanthropy http://www.thefamilyoffice.ca/net/DesktopDefault.aspx?tabindex=0&tabid=210 to learn more about philanthropy

The ideal Philanthropic Program will not decrease your current standard of living nor will it reduce your ultimate estate. Through proper planning your social legacy is created using dollars that were previously allocated to taxes. This allows you to effectively transfer tax dollars to your self-directed social legacy, ultimately benefiting causes you wish to support.

The Legacy that you leave is not just the wealth that your heirs inherit. Your legacy is the part of you that lives on in the heart and minds of others after you are gone. It is the influence you had on your family and loved ones and the impact you had on society.

First Baptist Church thanks you for your previous support and sincerely hopes that you find our approach to "Building a Culture of Philanthropy" in line with your desires as to how you would like to support First Baptist Church.  Please do not hesitate to contact Steve Lemp from First Baptist Church @ 403-283-0130 if you wish further information regarding our partnership with The Family Office.