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

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

Artist Foundations

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[caption id="attachment_6702" align="aligncenter" width="800"] Tom Thomson’s The Pointers, 1916-17 (Hart House, University of Toronto) – See Thomson’s catalogue raisonne at http://tomthomsoncatalogue.org/[/caption] In the U.S. there is a generation of contemporary artists who have never been richer and they are endowing – with art and money – some significant foundations. Cy Twombly Foundation, for example, reportedly has assets of over $1.5 billion. There is even a support initiative called the Artist-Endowed Foundation….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Art Copyright and Estates

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[caption id="attachment_6654" align="aligncenter" width="640"] The Derby Day (1856-58), William Powell Firth – The Tate Britain, Public Domain[/caption] Copyright & Art Ernest Gambart was a pioneering art dealer and showman in Victorian England who uncovered the value of art copyright.  His specialty was a triple play.  First, he mounted an exhibition (typically a single painting such as William Powell Firth’s The Derby Day); second, the sold the work; and third, he produced prints for….

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Estate Administration, Estate Planning

Donate to Eliminate Clauses

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Last week I received a call from a client who wished to include a “donate to eliminate” clause in his will. His goal is to wipe-out all taxes in his estate by giving just the right amount to his favorite charities. A few years ago, this planning idea was all the rage in gift planning circles. It turned on a model clause that directed the executor to calculate the value of….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Intrinsic v. Extrinsic Giving

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There is a fundraising truism that says you don’t get money unless you ask for it. But as estate planning professional know that’s not always true. A difference between lifetime gifts made directly to charity and estate donations is motivation. Often lifetime gifts are extrinsically motivated; estate donations are more likely to be intrinsically motivated. In other words, most everyday gifts are the result of an external solicitation; estate donations….

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Charitable Giving, Estate Donations, Estate Planning, Philanthropy/Charitable Giving
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