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Media Advisory for Immediate Release
November 13, 2008
CHARITABLE GIVING CAN MAKE GOOD ECONOMIC SENSE IN A DIFFICULT ECONOMIC CLIMATE - JUST IN TIME FOR NATIONAL PHILANTHROPY DAY
Calgary, Alberta - Calgary based charitable group, "The Fig Tree Foundation" is encouraging investors to celebrate this Saturday's National Philanthropy Day by giving with shares. "Gifting shares of publicly traded companies is the smartest way to give," says Paul Gomes, Executive Director of the Fig Tree Foundation. "The tax benefits of donating appreciated shares vs. cash make your donation go much further."
The Fig Tree Foundation is establishing an endowment fund that will act as a sustainable source of funding for Calgary international aid and development agencies. "Calgarians looking to become involved internationally but from within their communities, need look no further." says Gomes.
"Fig Tree Foundation is an excellent way to give back to our global community" says Martin Lambert, Senior Counsel with Bennett Jones LLP and a member of the foundation’s board of directors. "No matter how difficult our current economy is, it is nothing compared to what families in Africa are up against in terms of financial, educational, social and medical needs. In an increasingly global environment, allocating a portion of my philanthropy to international development just seems like the right thing to do."
And while, the current economic climate has some charities bracing for a dip in giving this season, it doesn't have to be that way. Lean times can also be an opportunity for generosity. 1933 was the worst economic year of the last century. It was the height of the Great Depression but North Americans gave on average 3.3 % of their aggregate income to charity. In 2007 - Canadians gave on average just .75%.
”Continuing philanthropic giving in difficult economic times doesn’t have to be painful”, says Terry Booth, Partner at Collins Barrow Calgary LLP and all a member of the foundation’s board of directors “By donating shares to charitable organization, the donors can provide resources to the charity with little or no cash output, and receive generous tax treatment on the donation.”
Shares of publicly listed companies can be donated to the Fig Tree Foundation through a network of volunteer investment advisors in the city representing 15 Calgary Investment firms. In most of the cases, the broker volunteers are waiving all of their fees, and in all cases they will be executing the gift transactions at a small minimum cost to the charity. All that donors need to do is contact their own advisor at any one of the firms which are listed on the Fig Tree website.
For Information on the Fig Tree Foundation visit: www.figtreefoundation.org
Media Inquiries can be directed to:
Martin Lambert
Director, Fig Tree Foundation
403-470-7296
Terry Booth
Director, Fig Tree Foundation
403-807-7826
BACKGROUND
The Fig Tree Foundation is a Calgary-based group dedicated to helping disadvantaged populations around the world by raising funds for registered international aid and development organizations who participate at the Fig Tree Roundtable.
Since 2005, the Fig Tree Foundation has brought these local aid and development agencies together via the Roundtable. Enabling organizations to work together in order to maximize impact abroad in a peer based, cooperative “best practices” environment.
There are currently 25+ members of the Fig Tree Foundation's Round Table - including Medical Mercy Canada Society, Aga Khan University and Canadian Women for Women in Afghanistan.
The Fig Tree Foundation has recently begun working to raise the funds necessary to establish a 4 million dollar endowment that will act as the initial capital for a sustainable source of funding for worthwhile international aid and development projects