Philanthropy/Charitable Giving

Total 170 Posts

Time Matters in Philanthropy

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SickKids Foundation’s year-end giving campaign has generated a lot of attention for its gripping “Vs” spots. Skillfully edited, the ad borrows fight, hip-hop and adventure movie imagery to dramatize the plight of the hospital’s young patients.  This campaign is highly effective and a great example of visceral, urgent annual fundraising.  Raw emotion has a place in charitable giving, but it doesn’t serve large “exceptional” donations at tax year-end and in….

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Estate Donations, Philanthropy/Charitable Giving

Estate Donations & Non-Qualifying Securities

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Since the announcement of the “estate donation” rules in the 2014 Federal Budget, there have been a number of amendments that have addressed sector concerns and drafting errors.   One unintended consequence in the original estate donation provisions relates to gifts of private company shares. At the June 2015 STEP conference in Toronto, Canada Revenue Agency confirmed that all estate donations of private company shares to any registered charity would be….

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Estate Planning, Philanthropy/Charitable Giving

University’s Decision on Spending $4 Million Bequest from Frugal Donor is Controversial, Fully Permissible

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University of New Hampshire library cataloger and alumnus Robert Morin died in 2015 at the age of 77. Morin, known for his thrifty lifestyle, spent little on food or clothes, and drove a 1992 Plymouth until his death. His will bequeathed a $4 million fortune to his employer, with the only instructions that $100,000 of the gift be spent at the school’s Dimond Library, where Morin worked. However, controversy later….

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Estate Litigation, Philanthropy/Charitable Giving

Combination Gift Plans

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Combining estate plans and lifetime financial plans can be challenging, especially for individuals who have dedicated a significant portion of their estate to charity, for example 50% or more.  Wills are often drafted independently of lifetime financial plans.  The drafting lawyer may not ask the question “is it prudent and advantageous to start giving major gift during life?”.  In certain situations, there are significant tax and philanthropic benefits to start….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving

Life Insurance Gifts Restructured

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Life insurance is an effective way to make a significant future donation, but the unfortunate reality is that charitable policies have a high lapse rate.  Thousands of policies have been donated since 1979 when the Canada Revenue Agency allowed premiums to be receipted.  Sadly too few pay out to fund charitable programs. There are some practical reasons for the lapse rate. Charitable life insurance policies are sold in the moment,….

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Estate Planning, Philanthropy/Charitable Giving

Deaccessioning Donations of Art

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Deaccession. It’s a word that brings chills to donors and would-be donors of art to public galleries.   The ingratitude.   The betrayal.  How can they sell my gift, my art?!  To deaccession is, in conventional curatorial thinking, to break trust with donors.  It chases them away. In the spirit of pragmatism, most museums and galleries rule out selling works from their collection. It becomes a matter of policy.   “We never sell….

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Estate Planning, Philanthropy/Charitable Giving
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