As an estate planning professional, philanthropy is a great tool in your toolkit. However, if your client intends to incorporate philanthropy into their estate plan, the importance of including a cy‑près clause in their Will cannot be understated. If there is no cy‑près clause in the Will and the charity…
Category: Philanthropy/Charitable Giving
Total 152 Posts
Here’s a charity trade secret. One of the best products in a fundraiser’s toolkit is “donor recognition”, in particular naming a piece of real estate. Recognition is effective in inspiring donors, and for some, but not all, an important part of charitable giving. However, donor recognition sometimes produces a backlash…
In the 1970s, Canadian charity law dramatically evolved and became imbedded in the Income Tax Act. While this is ancient history, I have personal connections with the drafting Working Group at the Department of Finance that I rediscovered. To my delight, after 45 years, I reconnected with one of the…
I recently spoke to an estate lawyer who told me she would never recommend certain charities to clients. Why? Because of the way these charities treated estate trustees. Some charities are unduly litigious, grind on fees, and are obstreperous about releases. It’s not the first time I’ve heard this comment…
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…
Child sponsorship is one of the greatest mass-market fundraising innovations of all time and a multi-billion dollar a year industry. Used primarily by international development organizations, sponsorship emotionally ties donors to individual children, providing insights, human connection, and funder loyalty. It’s a fascinating model that has evolved over time, and…
A hot topic among charities is anonymous grants from foundations with donor advised funds. Charities receive grants but they often don’t know the identity of the donor or fund that recommended the grant. This prevents the charity from saying thank you and stewarding the donor. Unfortunately, there is deep charity…
Rueben Wells Leonard was an early Canadian tycoon straight out of central casting. He was a pioneering philanthropist whose views created controversy in life and after death. His story is a key part of Canadian philanthropic history, and it contains some relevant lessons for today. The Man Born in 1861…
Technology sometimes produces unanticipated consequences. Witness Canada Revenue Agency. To its credit, CRA has implemented secure, mostly user-friendly technology over the past 20 years. For charities this includes online accounts and user-friendly “checklist” tools for charities. Unfortunately, these features sometimes create a special set of challenges for registered charities and…
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…