Congratulations to George Burton and his team! Canadore Breaks Ground for New Facility

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We are pleased to have an opportunity to work on fundraising of Canadore College’s new Advanced Composites Fabrication, Repair and Test Centre (ARC-TC) facility. Congratulations to George Burton and his team!

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Canadore College Breaking Ground for New Advanced Composites Fabrication, Repair and Test Centre

 (NORTH BAY, ONT.) – Construction of Canadore College’s new Advanced Composites Fabrication, Repair and Test Centre (ARC-TC) facility has officially begun.

The Centre will add to the existing purpose-built Aviation Technology Campus erected adjacent to the North Bay Jack Garland Airport in 2005.

“We’ve come a very long way in over 40 years of aviation training,” said George Burton, President and CEO of Canadore College. “Canadore’s specialized ARC-TC facility poises our region to be able to support the projected growth of the aviation, aerospace and space sectors in Canada and across the globe. We are pleased to make this announcement today thanks to the gracious support we have received from our community and our provincial and federal partners.”

According to Burton, ARC-TC will have the ability to support innovative research, industrial applications, testing services, business incubation and more. The Centre will be home to new academic resources such as two advanced composites laboratories, a non-destructive test (NDT) lab and training aids such as a walk-in curing oven, a magnetic particle inspection station and a liquid penetrant inspection line that will enhance current aviation programming and create capacity for new programs.

It is expected that Canadore College’s ARC-TC facility will open its doors in Spring/Summer 2015.

Huntington University honours David Tsubouchi

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Published author, lawyer and former Cabinet Minister David Tsubouchi will receive an Honourary Doctorate of Sacred Letters at Huntington University on Monday, Nov. 3 at 7 p.m. at the Japanese Canadian Cultural Centre (JCCC) in Toronto.

His exceptional contributions both as a volunteer and leader in the community led to this rare honour.

“David Tsubouchi’s exemplary commitment to community service is truly inspirational. He is a nationally recognized leader whose contributions will continue to have a profound impact on future generations,” said Dr. Kevin McCormick, Huntington University’s President and Vice Chancellor.

Through his political life and volunteer initiatives Mr. Tsubouchi has enriched various sectors of society including: education, culture, arts and international relations. For these and countless other reasons, Huntington University has selected him to receive the degree of Doctorate of Sacred Letters Honoris Causa.

“I am truly honoured to receive this prestigious recognition from Huntington University. For decades, Huntington has promoted academic excellence, fostered student success and at the same time recognized Canadians for their contributions to community service and I feel very privileged to be one of the recipients,” said Tsubouchi.

Mr. Tsubouchi is the Registrar and CEO of the Ontario College of Trades. He holds the distinction of being the first Japanese Canadian to have been elected to any position in Canada. He served for six years as Councillor for the Town of Markham and in 1995 he became the first Japanese Canadian to be elected to a provincial legislature and also to serve as a Cabinet Minister. David Tsubouchi has served as the MPP for Markham for two terms and has held several cabinet posts in the Ontario Legislature including Minister of Consumer and Commercial Relations, Solicitor General, Chair of Management Board and Minister of Culture.

As a campaign chair, he has raised millions of dollars for non-profit organizations and institutions including Seneca College, George Brown College, the Japanese Canadian Cultural Centre and the Rising Sun Campaign to assist the victims of the tsunami and earthquake in Japan. He has received numerous awards and honors including the Queen’s Diamond Jubilee Medal, the Queen’s Golden Jubilee Medal, The Bruce Bryden Award (York University), The Award of Merit From the Japanese Canadian Community and the Canadian Horse Racing Industry Award of Recognition. Just earlier this year, he received an award from the National Association of Asian American Professionals (NAAP). He has been a key note speaker in many countries including Dubai, Macau, China, Japan and the United States.

His memoir, Gambatte,was recently published by ECW Press and was nominated for the Speaker’s Book Award.

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Media Contacts:

 

Sherri Haigh

Director of Communications

Ontario College of Trades

Phone: 647-847-3139

Email: sherri.haigh@collegeoftrades.ca

 

Lacey Caputo

Director of Communications and University Advancement

Huntington University

Phone: 705-207-9939

Email: lcaputo@huntingtonu.ca

 

 

 

 

Texas Tech graduate program to use innovative philanthropy app GIFTABULATOR ®

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Toronto, ON – October 27, 2014 – GIFTABULATOR is now being used by students enrolled in Texas Tech University’s Graduate Certificate Program in Charitable Financial Planning. 

GIFTABULATOR, the intuitive, interactive app that shows how to minimize taxes while demonstrating the potential giving capacity of every individual, now offers U.S. taxation scenarios. GIFTABULATOR, the must-have tool for charities and financial professionals, helps project future assets, understand the impact of charitable giving on one’s lifestyle, calculate the burn rate of assets and the tax implications for both the client and the beneficiaries of an estate.

“The GIFTABULATOR app is a great addition to our program helping the students – professionals working in the areas of financial advising and fundraising – develop more effective charitable financial plans,” said Texas Tech Professor Russell James.

GIFTABULATOR was developed in the FUNDING matters inc. Research and Development Lab in North Bay, Ontario, in cooperation with Canadore College.

FUNDING matters inc. is one of Canada’s most innovative consulting firms specializing in fund development, philanthropic sector advisory services, and software and app development.

For more information on GIF TABULATOR and activating your free trial visit www.giftabulator.com.

 

Contact: William Petruck

President and CEO, FUNDING matters Inc.

www.fundingmatters.com

www.giftabulator.com

1-800-856-1354

Donate to Eliminate

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I was encouraged to see the Laura Saunders’ article Tax Smart Philanthropy Made Easy in the Wall Street Journal (WSJ). This has been a key element of what we have been speaking to advisors, charities and individuals about in getting their estate, financial houses in order to minimize taxation on their capital gains now and in their estates. Tax planning means that advisors and their clients need to take an inventory of all assets now and over time to ensure that what is left over and taxed can be put to other uses like philanthropy.

 

The WSJ article talks about the increase in popularity of Donor Advised Funds such as those offered by Fidelity, Schwab and Rowe. The other option is to give directly to charity and see the impact of your giving. The Donor Advised Fund model is a very smart approach if you are undecided about which charities you may want to leave your money to, and the taxman is not one of your chosen beneficiaries.  It is also a wise strategy for future generations who will invariably be approached to give to charity.  Imagine having the luxury of helping society with pre-tax dollars.

 

An important element in smart tax planning is being able to see or have someone illustrate to you how lowering taxes can be achieved and what is required.  All too often, advisors do not spend the time to engage in these types of discussions for a number of reasons including, lack of knowledge or not having the tools to educate and illustrate these concepts to their clients.  Not-for-profit organizations are equally guilty of not informing and engaging their members with the information in a concrete manner. That is why historically, the number of bequests to charities has remained in the 4% to 6% range for many years.  Guess who is getting the rest after the family? You got it, the taxman.

 

The solution to this is GIFTABULATOR, an estate, financial and philanthropic planning app with an easy to understand model for planning purposes. GIFTABULATOR easily calculates how much money an individual will be left with, can pass on to their heirs and how much should be donated now or as part of an estate to reduce taxes at any point in the investment cycle. Can you imagine now how much you should give now to reduce your taxes on various assets? Call it Donate to Eliminate.

 

Laura Saunders’ article in the WSJ hits home about leaving a legacy for yourself, your family and your community.

 

Connect with GIFTABULATOR at app.giftabulatorusa.com

 

e. wpetruck@fundingmatters.com

School of Hard Knocks

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I have attended the school of hard knocks when it comes to planned giving.  When I look back  over a 20 year period on my experiences engaging donors about making a bequest, each and every instance has taught me valuable lessons about the psychology of estate planning.

Dr. Russell James, Researcher and Professor at Texas Tech University, has given me valuable insight and successful strategies over the years.  Dr. James points out in his presentations and in his book Inside the Mind of the Bequest Donor that often a charity is 40 years away from actually realizing if their approach to a donor was effective.

In fact, I have learned in the past 20 years in fundraising that discussing major giving and setting up bequests for charities are two of the last things people really think about in their daily lives.

Why did my first Leave a Legacy or Planned Giving sessions feel like busts at the time?  I would organize  sessions in which donors and supporters only showed up for moral support (and to be perfectly clear, none of my family members came out to support me). During these meetings we even provided  coffee and continental breakfast in a comfortable setting.

Only years later did I realize these events really were successful. Of the four people who came to one of my first Planned Giving sessions, three have now passed on and one is still living.  Of the three that have since passed, I can say that all three left bequests in their estates, with two of the three making donations which are in the top five largest gifts to this organization.  During their lifetimes, all three continued to make annual contributions to the organization.  Of interest, at the time none of the three had an updated will.

The key to my success with these Leave a Legacy sessions was to reference the research of Dr. James. When approaching a donor, instead of using the planned giving terminology, I invoked a term Dr. James calls “symbolic immortality” when addressing leaving a legacy in estates or tax planning with donors.  The discussion then moved from an ask for the charity to a discussion about the donor’s heirs and how they can have a lasting impact in the world.

This technique has been replicated countless times in the past eight years with increased success. More individuals are attending these information sessions and taking estate and philanthropic planning discussions and the completion of their wills to the next stage.

www.giftabulatorusa.com

 

 

Your Most Important Assets Are Outside Your Portfolio

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You might have been advised that the most crucial elements of wealth creation and preservation centres on your investment portfolio.  It doesn’t.

As I see each day in our practice at FUNDING matters the huge financial issues in our lives are the success of our marriages, the ability of our children to live productive and fruitful lives and our commitment and engagement to create wellness by healthy eating, exercising and living.

If any of these lifestyle elements aren’t working smoothly or worse, if they are in a destructive mode then there is generally a heap of money going out the door to fix these problems.

If you are glued to your portfolio without paying much attention to your world outside of your financial statements chances are you are setting yourself up for failure, regardless how your investments perform.

Discuss family matters with your children, update your wills, take care of your affairs.  Make a provision for charity to benefit society and in the end benefit by reducing your taxes through your philanthropy.  Leave a legacy for your family and society.

Financial Success Element Number Two

Besides marriage as a critically important financial issue, the raising of your children is also financially important since raising productive, independent and resourceful children engenders greater financial success for them and less of a drain of wasted resources for the parents.

When it comes to kids, children who are deprived of their parents time and investment in their earliest years will ultimately need the mentoring time and dollars invested in later years.  But those later years often entail a multi-fold investment and commitment (inability to get a job, substance abuse, adult support and upwards).

Yes, raising children is expensive and time consuming, but re-raising them after they have become young adults or full adults is a heck of a lot more expensive and heart wrenching.

Discuss your goals with your children and learn about theirs.  Help them to become volunteers and show them how you give to charity. Tell the the good that your charitable giving does for you and how you also benefit financially through the process.

At FUNDING matters Inc. we often see the issues facing families who come to the cross-roads in their planning but realize that they must find ways to assist their children make it over the hurdles emotionally and financially.  Illustrations via the GIFTABULATOR help families see how they can afford their lifestyles and support worthy causes.

Number One Element for Keeping Wealth

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Marriage is probably the number one element for making and keeping wealth or financial stability.

A spouse can contribute to greater wealth.  A spouse can help with business, give/offer ideas and counsel, entertain your clients, shop wisely for home needs and be committed to saving, investing and charitable giving.

A good marriage can also keep away a bunch of financial negatives.  You won’t suffer a divorce, which often entails a split of 50% (after legal expenses) of your asset base and prospective income, the introduction of duplicate housing/lifestyle costs and host of other financial inefficiencies.

So like doing a portfolio check up couples should do a review of the health of their relationship.  They should review their finances read books on successful investing while also build their knowledge in having successful relationships.

Protecting your wealth is a multi-step process which takes into consideration you and your partners values, views, interests and priorities.  It involves gaining a better understanding of how your partners needs and interests fit with yours now and over time.

Discussing charitable giving with your partner is also a great idea for building a legacy but also tax reduction.

At FUNDING matters Inc we have been able to walk families through the timely discussions regarding their future plans and reduce family unrest through our discovery meetings and illustrations of financial planning through the GIFTABULATOR software.

Challenge for Charities: Less than 1% of Boomers have a Charitable Giving Plan

If it isn’t tough enough to raise money for charities, the largest cohort of individuals set to inherit tens of billions of dollars in the coming decades does not have a plan for their charitable giving – can you say opportunity!

Charities should take the time to education these individuals in terms of the importance of planning.  Personal financial plans connect with well thought through estate plans and build in charity to make a difference in society and tax reduction.

Take the time to discuss your estate plans with your professional advisors or take in a Leave A Legacy seminar in your community to find out more about how you can prepare for your future needs and plans.