Frequently Asked Questions

Questions

Endowment 150 - General

What is Endowment 150?

Endowment 150 - Eligibility

Am I eligible for Endowment 150?
Are children eligible for Endowment 150?
Why do I have to put $25 into my RDSP to be eligible for Endowment 150?
I am a recipient of MHSD income assistance and have two disabled children. Can I apply for Endowment 150 for each child?

Endowment 150 - Application Process

How do I apply for Endowment 150?
When can I apply for Endowment 150?
How long will it take to process my application?
When is the deadline to apply?
How do I find out if my application has been approved?
In addition to the Endowment Application form – what other documentation must I submit?
Can I use the $150 for something other than a contribution towards my RDSP?

Income Assistance

I can't remember if I received income assistance before or after January 1, 2008. How do I find out?
If I currently do not receive income assistance from the Ministry of Housing and Social Development can I still apply?
Will a RDSP affect my eligibility for income assistance from MHSD?

Disability Tax Credit

How do I know if I am eligible for the Federal Disability Tax Credit?

Registered Disability Savings Plan (RDSP)

How do I open a RDSP?
Which financial institutions currently offer RDSP?
Is the $150 contribution to a RDSP considered income?

Answers

Endowment 150 - General

1. What is Endowment 150?

Endowment 150 offers eligible persons with disabilities a one-time gift of $150 to help their Registered Disability Savings Plan (RDSP) grow.

This gift from Vancouver Foundation is intended to help you as you save for the future.

Endowment 150 - Eligibility

1. Am I eligible for Endowment 150?

Who can apply

  • Residents of BC with a disability who have received income assistance any time after January 1, 2008
  • Children with a disability who are residents of BC whose parent or guardian has been in receipt of provincial income assistance anytime after January 1, 2008

To receive the Endowment 150:

  • You are eligible for the Federal Disability Tax Credit (DTC)
  • You can provide a RDSP number and verification of a minimum $25 deposit - a copy of a transaction record or bank confirmation is to be included with your application
  • You are under 60 years of age - our $150 gift is to go towards your RDSP, and to be eligible for RDSP you must be under 60.

For more information on eligibility, click here

2. Are children eligible for Endowment 150?

If a child qualifies for the Disability Tax Credit and is part of a family that receives provincial income assistance, then the child qualifies for Endowment 150.

4. Why do I have to put $25 into my RDSP to be eligible for Endowment 150?

Endowment 150 is intended to boost your personal contributions to your RDSP. The $25 can be deposited by anyone - the person with the RDSP or a family member or friend.

5. I am a recipient of MHSD income assistance and have two disabled children. Can I apply for Endowment 150 for each child?

Yes - provided that each child has a RDSP and meets our criteria for Endowment 150.

Endowment 150 - Application process

1. How do I apply for Endowment 150?

Endowment 150 is open to any British Columbian with a disability who meets specific criteria. For criteria and steps to apply, click here

2. When can I apply for Endowment 150?

You can apply now. For criteria and steps to apply, click here

3. How long will it take to process my application?

It may take up to 90 days from the day we receive your application to the time we send you a $150 cheque, to be deposited into your RDSP. Please note that any missing information on your application will significantly delay the time it takes to process your request.

4. When is the deadline to apply?

There are no deadlines to apply.

5. How do I find out if my application has been approved?

We will send a letter to you once your application has been processed. If you were approved, Vancouver Foundation will then send you a $150 cheque, to be deposited into your RDSP.

6. In addition to the Endowment Application form - what other documentation must I submit?

Endowment 150 funds will be treated like a regular contribution to a RDSP. Vancouver Foundation will then send you a $150 cheque, to be deposited into your RDSP.

After you've deposited the $150 into your RDSP, we require a copy of the proof of deposit (receipt) for our files

7. Can I use the $150 for something other than a contribution towards my RDSP?

The Endowment 150 grant is intended to be a RDSP contribution. Vancouver Foundation is pleased to assist you on the path to financial security.

Income Assistance

1. I can't remember if I received income assistance before or after January 1, 2008. How do I find out?

To find this out, contact your local Ministry of Housing and Social Development (MHSD) office. Visit their website to find an office near you.

2. If I currently do not receive income assistance from the Ministry of Housing and Social Development can I still apply?

As long as you received income assistance any time after January 1, 2008, and you meet the other requirements, you can apply for Endowment 150.

3. Will a RDSP affect my eligibility for income assistance from MHSD?

While RDSP holders need to report to MHSD that they have a RDSP, it will NOT affect eligibility for assistance or the amount of support they receive from the ministry.

Disability Tax Credit

How do I know if I am eligible for the Federal Disability Tax Credit?

The Disability Tax Credit is available to Canadians who have a disability. To be eligible you must first obtain certification from a medical doctor on a Canada Revenue Agency prescribed form. For more information and the required form visit www.cra-arc.gc.ca/E/pbg/tf/t2201/

Registered Disability Savings Plan (RDSP)

1. How do I open a RDSP?

For more information on creating your RDSP, please visit www.rdsp.com or call 1.800.622.6232

2. Which financial institutions currently offer RDSP?

For the latest list of financial institutions offering RDSP visit: www.hrsdc.gc.ca/eng/disability_issues/disability_savings/financ_org.shtml