Any organization can create an endowment fund; however, the Victoria Foundation can only grant to organizations that are registered with the Canada Revenue Agency (CRA) or considered a qualified donee*. For a charitable organization with an endowment fund held with the Foundation, the annual distributable return is granted back to the organization for its general operations, programs and/or services.
*A qualified donee is defined under the Federal Income Tax Act as those organizations that can issue official donation receipts for gifts they receive from individuals and corporations. For a full list of types of organizations that qualify as qualified donees, see the CRA website