Malcolm Burrows

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Malcolm is a philanthropic advisor with over 30 years of experience. He is head, philanthropic advisory services at Scotia Wealth Management and founder of Aqueduct Foundation. Views are his own. malcolm.burrows@scotiawealth.com

Art and Fair Market Value

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[caption id="attachment_7127" align="aligncenter" width="550"] Sir Frederick Grant Banting, 1891 – 1941, The Lab[/caption] Fall art auction week in Toronto is just past. The biggest is run by Heffel Fine Art Auction. The results for the two Heffel auctions illustrate the challenge of determining fair market value in art. The auction catalogue listed a number of estates and charitable foundation as consignors. Clearly art valuation issues affect estate planning. Heffel offered 135….

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Estate Administration, Estate Donations, Estate Planning, Uncategorized

Foundations with Donor Advised Funds

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The current Special Senate Committee on the Charitable Sector seems to be quite interested in “donor advised funds” or DAFs. In particular, members of the Committee are suggesting that the Income Tax Act should be changed to require individual funds to have minimum disbursement quotas and separate regulatory reporting. This policy trial balloon is worth debating. If for no other reason than a lot of Canadians now have their philanthropic….

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Elder Law, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Charitable Matching Funds

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As a fundraiser at a university in the early 1990s I discovered that a primary extra incentive for major charitable gifts is matching funds.  Typically from government sources, matching funds are compelling to donors and important fundraising tools for a lucky few charities.  Unfortunately they create an uneven playing field in the charitable sector. Matching programs are varied and often short-lived, but in every case they represent a government priority. Examples….

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Charitable Giving, Philanthropy/Charitable Giving, Uncategorized

Esther the Pig and Animal Sanctuaries

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[caption id="attachment_6858" align="aligncenter" width="640"] Photograph by Rob MacInnis in a page shot from The Walrus, September 2018[/caption] I am fortunate to work with many animal lovers on their philanthropic estate plans. They are interested in a wide range of  animals and issues. A recent article in The Walrus magazine about the animal sanctuary, registered charity and social media phenomenon Happily Ever Esther Farm Sanctuary highlights a number of key estate planning….

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Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Cultural Property Tangle: Export v. Donation

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[caption id="attachment_6826" align="alignleft" width="425"] Gustave Caillebotte’s 1892 oil Iris bleus, jardin du Petit Gennevilliers[/caption] How can an export permit affect charitable giving? Quite easily if you are dealing with a foreign art work deemed “cultural property” under Canada’s Cultural Property Export and Import Act (CPEIA). A June 12 Federal Court of Canada decision on the export of French impressionist painting has reportedly frozen donations of “foreign” art to Canadian museums…..

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Philanthropy/Charitable Giving, Uncategorized

Charities and Political Activities

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  A battle has been waging in Canada since 2012 over “political activities” by registered charities. The previous Federal Government initiated an audit by Canada Revenue Agency (CRA) of 60 registered charities, which was discontinued in 2017 by the current government. On July 16, 2018, the Ontario Superior Court of Justice struck down the limitations as unjustifiable restriction of a charity’s freedom of expression. On August 15, the Government of….

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Estate Donations, Philanthropy/Charitable Giving
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