Foundation FAQs

Kerr Street Mission Foundation was established to contribute to the long-term sustainability of Kerr Street Mission (KSM). It is a vehicle by which supporters of KSM can leave bequests in their will or make donations that will be invested longer term so that funding is available when KSM needs it most (e.g., economic downturns, expansion of programs or facilities, growth in community needs) or over multiple years.

Yes. Kerr Street Mission Foundation was established under the Ontario Not-for-Profit Corporations Act, 2010 and meets the requirements for tax exempt status as a registered charity under the Income Tax Act. The Canada Revenue Agency (CRA) registration number for Kerr Street Mission Foundation is 72448 0405 RR0001.

Tax receipts will be issued no later than the end of February following the year in which a donation is made. Upon request, tax receipts can be issued shortly after donations are made.

Yes. Donating securities such as stocks, bonds or ETFs that have appreciated in value provides increased tax benefits for taxpayers and thus the after-tax cost of donating can be reduced. Securities can be donated electronically.

No. We gladly accept all donations. Any donor donating $10,000 or more, may enter into a Donor Agreement.

The Donor Agreement is an agreement between a donor and Kerr Street Mission Foundation that describes, among other things, the two different Funds that a donor can donate to and how long the donated funds will be invested prior to their use.

A donor can donate to the KSMF Legacy Fund (a restricted fund) or to the KSMF General Fund (an unrestricted fund) or to both. The KSMF Legacy Fund will be invested over a long period of time (10+ years) as set out in the Donor Agreement. The KSMF General Fund will be used for current needs with the surplus being invested. If a donor does not wish to sign a Donor Agreement, or if the donation is less than $10,000, the donated funds will be deposited to the KSMF General Fund. Both Funds are governed by Kerr Street Mission Foundation’s Investment Policy.

The money and investments in the KSMF General Fund are available for making grants to KSM and to cover other current requirements. It is expected that grants will be based on KSM’s needs each year. Thus, some donations to the KSMF General Fund may be invested for relatively long periods of time if KSM is well funded in any particular year or years or for shorter periods when needs are greatest. The CRA requires a minimum amount of grants be made each year based on the assets of the Foundation.

Except in extenuating circumstances, no more than (i) 10% of the amount of a donor’s contribution plus (ii) investment earnings on the contribution will be transferred to the KSMF General Fund each year. This means that a donor’s contribution to the KSMF Legacy Fund will be drawn/used over not less than a ten-year period.

Yes. At a minimum, Kerr Street Mission intends to update donors at least annually on the performance of the KSMF Legacy Fund and the KSMF General Fund. Kerr Street Mission Foundation will also provide information on its website. It is expected that there will be other opportunities for donors to interact with Kerr Street Mission Foundation.

Please contact Gary O’Neill, Executive Director of Kerr Street Mission Foundation at 905-845-7485 or email him at for more information.