What is the Rural Communities Foundation of Nova Scotia?

The Rural Communities Foundation of Nova Scotia (RCFNS) is a federally regulated charitable Community Foundation with a mission to empower residents and communities of rural NS through sustainable granting and convening. After 25 years, RCFNS is now evolving to be an even better partner for rural communities to achieve their own goals.

How does the Foundation work?

A community or charitable foundation is a registered public charity that is non-political, non-religious and it is self-governed. There is a Board of Directors, comprised of local enthusiastic citizens. Directors will typically serve three-year terms to a maximum of two terms. The Board governs the Foundation within the By-Laws of the Foundation, regulations of the Community Foundations Acts and those of Canada Revenue Agency relating to public foundations.

What is philanthropy?

Philanthropy is the act of donating or giving private money, goods, services, time and/or effort to support a socially beneficial cause, with a defined objective and with no financial or material reward to the donor. Philanthropy may encompass any altruistic activity intended to promote good or improve human quality of life. Philanthropy is usually the act of giving while one is still alive, while a legacy or bequest is giving through ones will..

What is unique about RCFNS?

While most Community Foundations are supported by large endowments (see next question), RCFNS has chosen not to rely on this form of financial tool. Endowments are meant to be a wealth building tool to use ‘in perpetuity’: meaning forever. RCFNS believes the resources are needed in community, not in the Foundation’s account.

Another unique quality of RCFNS is our singular focus on rural Nova Scotia. We work in all communities of the province, from Meat Cove to The Hawk, with the exception of Halifax and Sydney.

What is an endowment fund compared to spend-down or flow-through fund?

An endowment is a powerful financial tool. Gifts from the principal of the fund, whose assets are invested for the long term- each year, a percentage of the fund’s value can be used to sustain programs. The balance, less fees, is reinvested. Over time, endowment assets and the value of the annual payouts grow.

A spend-down fund can also be a long term fund, but each year some of the original capital is spent, resulting in a longer-term, yet time-limited fund that will be fully spent by the end of its time.

Flow-through funds are the ones the non-profit sector is most familiar with. Flow-through means funds that are designated for specific uses and only an administration fee is taken before the funds flow into community work.

What is a Fund with RCFNS?

A fund is the term used to describe a donor’s contribution established to meet a charitable purpose, such as relieving poverty, that is managed and administered by RCFNS. The goals and duration of the fund are determined in partnership with the donor.

How is a Fund established?

This is quite simple. The process is initiated by advising the Foundation of your wish to establish a fund. The information required includes the name of the proposed fund and its purpose. Many kinds of funds can be set up, including spend-down and flowthrough funds.

How are Grants made?

Grant applications forms are available on this website. Grants are usually given out once a year in the fall. All potential applicants complete a standard application form. The grants committee is made up of Board Members. This committee reviews/evaluates all the applications and makes their own individual decisions basing their judgments on both objective and subjective criteria and by consensus submits there recommendations to the board of directors for final approval. All approved grants are accompanied by an agreement that details the conditions under which the funds are being awarded. Grants are only given to qualified donees and organizations.

For more information on funds and how they work within the RCFNS, email info@RCFofNS.com.