The Grey County Historical society has decided to take a new route for their donations.
The society has enlisted the help of the Community Foundation of Grey Bruce to handle all their donations and funds.
Executive Director of the Community Foundation of Grey Bruce Roberta Brignell says this is a smart choice for the society.
Brignell says capital gains were waived two years ago and by going through the foundation donors will now get a 100-percent tax receipt with no capital gains being removed.
Brignell says that by allowing the community foundation to take over this there is less paperwork for them – they handle all the charitable receipt and admin work.
Brignell says they have legal and accounting officials that work for them so all numbers are triple checked.
Brignell says any foundation or society can use the community foundation to handle their donations – it just takes 5-thousand dollars to begin a fund and an admin fee of 1.5-percent of the interest earned on the amount of money.
She says the historical society went with the foundation to handle the donations due to the fact that people can make donations through several different avenues and receive a 100-percent tax receipt removing the capital gains.
Brignell says many societies are following this avenue for their funds as there is no worry of fraud with this route – adding there is a yearly report sent to the society allowing them to see where each dime went.
This avenue will also make sure that the Historical society is sustainable in the future by ensuring operating and project costs are covered in the future.