The philanthropic community has a perpetuity obsession. Critics of perpetuity believe that preserving capital, restricting payout, and existing forever is the pernicious norm. Admittedly, for some foundations, perpetuity a sacred ideal, an aspiration that is sometimes unquestioned. Foundations that “spend-down” are valorized as rare entities that value community impact over…
Tag: private foundations
Total 6 Posts
This blog has been written by Mahsa Pezeshki, Charity and Not for Profit Clerk at Fasken LLP Vehicles for organized and strategic charitable giving Understanding the differences between these two vehicles is a good starting point for philanthropic planning. Each giving option can be an effective and personal method for…
Private foundations are believed to be durable entities. Perpetuity is assumed. Canada Revenue Agency (CRA) data shows, however, that 2,319 private foundations closed during the period 2000 to 2021. Growth in Private Foundations There are currently 6,213 private foundations registered in Canada. The private foundation is the fastest growing category…
The 2021 Federal Budget announced the Government’s intentions to launch a consultation with charities about “potentially increasing the disbursement quota…beginning in 2022.” Any increase of the disbursement quota (DQ) rate above the current 3.5% annual requirement will have significant implications for the charitable sector, foundations and donors. Below is…
Strangers in Family Foundations
By Malcolm Burrows •
May 2, 2016
Family charitable foundations are often equally about the family working together as they are about charity. While the purpose of a foundation must be exclusively charitable, the founders’ hope is that future generations of family will have a place to work together and act on their values. But how,…
Private Foundation Continuity
By Malcolm Burrows •
November 19, 2015
The combination of “private foundation and perpetuity” is a bit like “Fred and Ginger”, always linked in the public mind. Since 2000, however, the charitable status of 1,750 Canadian private foundations has been revoked. Of that number, 1,088 private foundations deregistered on a voluntary basis at the request of trustees…