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

Charity v. Benevolence

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Last week I received two inquiries from caring colleagues hoping to help individuals in need.  One person had cancer and had lost his business, while the other was a sick child who perhaps could benefit from her own charitable foundation.  As heart-rending as these stories are, neither qualify as “charity”.   Both are forms of benevolence. Charity and benevolence are confused all the time.  Simply, benevolence is support of an individual….

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Charitable Giving, Estate Donations, Philanthropy/Charitable Giving

Journalism and Charities

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The interconnectedness of registered charities and journalism is growing.  In this era of digital content explosion and “fake news”, traditional media outlets — especially newspapers — are seeking new ways to serve their communities and survive.  Increasingly, public benefit non-profit journalism is becoming a charitable activity.  There are estate donors who are interested in supporting this space. In the U.S. non-profit, investigative journalism is well established.  In-depth articles funded by….

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Philanthropy/Charitable Giving, Uncategorized

Spend-down Charitable Funds

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[caption id="attachment_5888" align="aligncenter" width="364"] The middle ground at Indian Battle Park, Lethbridge, Alberta[/caption] Until 2010, the disbursement quota provisions in the Income Tax Act mandated that charities handle donations in one of two ways: for immediate use or held as long-term endowments through the “10-year gift” capital hold mechanism.  These binary rules drove donor and charity behaviour.  The 2010 reforms provided charities with greater flexibility regarding the acceptance and use….

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Estate Planning, Philanthropy/Charitable Giving

Robert and Signe McMichael’s Complicated Legacy

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[caption id="attachment_5842" align="aligncenter" width="477"] Robert and Signe McMichael signing Gift Agreement with Ontario Premier John Robarts .18 November 1965. Credit CBC[/caption] Robert and Signe McMichael, the namesake of the McMichael Canadian Art Collection, were savvy art collectors who made some painful philanthropic and estate planning mistakes.  Visionary Collectors     Starting in 1955, when they were in their early 30s, they started buying landscape paintings by the Group of Seven….

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

Protecting Charitable Interests

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[caption id="attachment_5768" align="aligncenter" width="377"] Charities may struggle with a lack of resources and expertise when defending an interest in an estate.[/caption] Are charities in a will easier to challenge when there are more than five entities named?   This topic came up at a recent lunch with estate planning and litigation colleagues.  One told a cautionary tale of a large estate that was litigated away from a dozen named charities.  The….

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Estate Administration, Estate Donations, Estate Litigation, Philanthropy/Charitable Giving, Uncategorized

The Endowment Effect

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[caption id="attachment_5640" align="aligncenter" width="463"] St Miguel and the Dragon, 14th Century, Museu Nacional d’Art de Catalunya, Barcelona, Spain[/caption] People value objects more when they own or possess them – or at least when they presume ownership.   In cognitive psychology this phenomenon is called the “endowment effect”.    It’s a concept that was seemingly invented to describe a lot of behaviour related to estates, philanthropy and foundations.   It’s time to give it….

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Estate Administration, Estate Litigation, Family Conflict, Philanthropy/Charitable Giving
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