Philanthropy/Charitable Giving

Total 169 Posts

Charitable Prizes

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When Lindbergh flew from New York to Paris in 1927, it was inspired by the $25,000 Orteig Prize. Also in the 1920s, when the International Math Union wanted to honour under 40-year-old rising mathematicians, Toronto math superstar J.C. Fields (under)funded a medal that has been awarded ever since. Since the 19th century, charitable prizes have been a way to recognize accomplishments and create change by providing incentives to achieve the….

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Estate Donations, Philanthropy/Charitable Giving

Life Interest or Licence to Use?

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A person’s house is often their most valuable assets – both monetarily and emotionally. As a result, testators tend to put a lot of thought into who, and how, they wish to leave their house. However, as is always the case, best laid plans often go awry. One example of this, explored in the 2022 Court of Appeal of Ontario decision Barsoski Estate v Wesley, is when it is unclear whether the will gifts someone with a life interest in the house or a licence to use the property…..

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Charitable Giving, Contested wills, Estate Administration, Estate Litigation, Estate Planning, Interest, Philanthropy/Charitable Giving, Property, Real Estate, Succession Planning, Wills

Seven Faces of Philanthropy

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  The Seven Faces of Philanthropy: A New Approach to Cultivating Major Donors is an iconic American fundraising book published in 1994.  In it authors Russ Allen Prince and Karen Maru File neatly categorize charitable profiles.  While written for a fundraising audience, the book is a helpful reminder that charitable motivations are diverse.  There is not a single way that donors approach philanthropy. The book focuses on lifetime “major gifts”….

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Charitable Giving, Philanthropy/Charitable Giving

Transparency v Anonymity

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The calls for greater transparency by charities in Canada is growing. Budget 2022 had a few promises of more reporting requirements for registered charities related to donor advised funds and disbursement quota, although the exact measures are still unclear. What does this mean for the charitable tradition of anonymous giving? Anonymity The great Spanish Jewish medieval philosopher Maimonides famously said that the highest form of charity is anonymous. It’s about….

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Philanthropy/Charitable Giving, Uncategorized

Canadian Donation Incentives

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I published a version of this blog three years ago to address the many questions on Canadian tax incentives for donations that I receive.  Since the questions keep coming here is a revised and updated version. Generous but Complex and Opaque Canada has the most generous tax incentives for charitable giving in the world, but few Canadian donors understand what they save and how the system works. Why the paradox? ….

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Philanthropy/Charitable Giving, Uncategorized

Better Life Insurance Donations

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Recently I received an inquiry from a life insurance advisor about a client who wished to establish a policy and donate it to two charities.  My colleague wanted to know if this was possible.  In my experience it is possible, but not the best way to do it. Donation Structures in Canada there are two basic ways to donate using life insurance. A donor makes the charity owner and beneficiary….

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Insurance, Philanthropy/Charitable Giving, Uncategorized
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