Charitable Giving

Total 81 Posts

Donor Recognition: Servants, Saints and Super Heroes

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In 15th and 16th century Europe donor recognition was negotiable. The biggest donors gave to the church, but the best way to be recognized in a durable way was to underwrite religious art. Albrecht Dürer’s circa 1500 triptych, the Paumgartner Altarpiece, is one of the most arresting examples of the complex dynamic that did, and still does, shape the process of showing gratitude to donors. Donors as Servants The main….

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Charitable Giving, Estate Planning, Philanthropy/Charitable Giving

The Senate Speaks Charity

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It’s hard to underestimate the importance of the Special Senate Committee on the Charitable Sector report to that was released on June 20th.  After almost 18 months of hearings and consideration, this once-in-a-generation study came up with 42 recommendation on topics ranging from volunteerism, social enterprise, regulatory system, and judicial review process.  There are five recommendations that deal with giving and tax incentives. Review Tax Measures Recommendation 9 makes a….

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Charitable Giving, Philanthropy/Charitable Giving, Uncategorized

Is a Sale for $1 the Same as a Gift?

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Most transactions between parties not at arm’s length with each other (often described as related parties, such as family members), the parties to the transaction are subject to a one-sided adjustment where the transaction proceeds does not equal fair market value (“FMV”). If the price exceeds FMV, then the cost to the purchaser is limited to the FMV while the vendor is taxed based on price. If FMV exceeds price,….

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Canada Revenue Agency, Charitable Giving, Costs, Estate Planning, Investments, Property, Tax Issues, Wills

Advantages and Disadvantages of Charitable Remainder Trusts[1]

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A charitable remainder trust is an underutilized philanthropic tool where a charity is given a future monetary benefit, while the donor receives immediate tax relief in respect of the charitable contribution. Typically, a donor irrevocably contributes property to a trust for the lifetime of a beneficiary, with a charity being the residual capital beneficiary upon the death of the lifetime beneficiary. The lifetime beneficiary has the right to the income….

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Charitable Giving, Trusts

Estate donations, Time and Flexibility

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Last week I visited Princess Margaret Cancer Centre in Toronto for a grant status update meeting with a family foundation. I used to work at the Princess Margaret Cancer Foundation, but left 20 years ago. Returning after two decades provided me perspective on two key charitable estate planning considerations: time and flexibility. The Cancer Centre and the treatment of cancer has changed massively since I worked there. An obvious sign….

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

Charitable Donations – What Do You Get in Return?

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Each December, we are reminded that this is the season of giving. As we are encouraged to lend our support to worthy causes, it is helpful to understand the extent to which donors can control the use of their funds and oversee the direction of a charitable project. Meddling in other’s affairs can be costly, as seen in Fass v CAMH, 2018 ONSC 3386. The Faas Foundation and its founder….

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Charitable Giving, Contracts, Estate Donations, Investments, Philanthropy/Charitable Giving
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