Frequently Asked Questions
Here are list of questions and explanations.
Why are the financial reports not in the DCF website?
The rationale not to post financial reports is to reduce and prevent email scams from various parts of the world requesting funds or “help”. However, the Deaf Community Foundation will certainly provide financial reports and any other information to a member living in British Columbia who has requested access to these reports. The request can be sent through the “Contact” section.
Who audited the finances?
The Royal Bank of Canada – Dominion Securities (RBC-DS) which manages the DCF’s investments, does the auditing internally.
Is the DCF a non-profit incorporation?
Yes, the DCF is registered with the BC Registry Services as a non-profit incorporation.
Who manages the funds?
The funds are managed by the RBC-DS as directed by the Regulators and Board of Directors. The RBC-DS Financial Advisor provides suggestions to ensure continued growth of the investments. They are invested in the securities market such as equities, bonds, mutual funds and GIC’s.
What are the funding requirements/criteria?
The key criteria for funding requests are as follows:
a. Associations with charitable registration numbers and other qualified applicant(s) under the Income Tax Act can apply for funding.
b. Organizations who apply for funding must demonstrate fiscal responsibility, accountability and effective management.
c. Fifty-one percent (51%) of the board members should be Deaf.
d. The Foundation does NOT grant or award money to any individual(s) for personal use.
e. If your organization/association meets the guidelines/criteria to apply for funding, you can fill and complete the application form, and send via email or mail to the Foundation at least 12 weeks prior the project’s start date. This is to allow sufficient time for the Foundation to review and process the application
f. Applicants are invited to submit their proposals at any time throughout the year.
What are the differences between associations and foundations?
1. Association: An organization of people having an interest, activity, or a purpose in common; a society having a formal structure. It may refer to voluntary associations, groups of individuals who voluntarily enter into an agreement to accomplish a purpose.
2. Foundation: A legal categorization of non-profit organizations that will typically either grant, distribute, donate funds, provide financial support for other organizations or provide a source of funding for its own charitable purposes.
If you have a question not listed here, please do not hesitate to contact us through the website: http://deafbcfoundation.ca/contact/