While the charitable giving space is often seen as a community open only to the ultra-wealthy or dominated by men, the philanthropic community is constantly evolving.
It is an invitation to women and minorities to embark on charity on their own terms—and of their own accord.
The charitable giving space in Canada is certainly well populated, with over 170,000 charitable and non-profit organizations in 2021 (of which 85,000 are registered with the CRA), contributing an average 8.1% of total national GDP.
With such an abundance of causes, each with their own story and proposed impact, many philanthropically-minded Canadians have explored and implemented Donor-Advised Funds in their wealth plan to achieve their philanthropic goals. What is a Donor-Advised Fund, and what are the benefits of using one? Read this article to learn more.
While many of us feel an intrinsic pull to want to help those in need, when it comes to the tax and insurance implications involved when giving to charitable organizations, things can start to feel overly complicated quite quickly.
Not to worry—this guide is here to break things down in an easy-to-follow format, so that you can get back to supporting your community while having the peace of mind that you’re engaging in all of the best practices to make the most of your efforts from a financial perspective!
When you strategize and plan your philanthropic efforts, you not only control how and when your time and resources will be allocated, but you might also be able to add real value to your overall wealth through significant tax savings, which can be allocated back towards philanthropy.
In this article, we will break down the process of formalizing your philanthropic vision, touch on how to choose which organization to give back to in Canada, and highlight one powerful philanthropy strategy with the opportunity to minimize tax.
When you think of a traditional philanthropist, who do you picture? With the philanthropic space so often dominated by very wealthy individuals, it can at times feel intimidating to enter into this endeavour if you feel you don’t quite fit that description. The truth is, philanthropy is not limited to the ultra-elite, and the charitable giving space is constantly being rewritten to invite everyone in on their own terms. The community is always open to deriving new ways to contribute, support redesign and redefine what it means to give—and doing it together.
Whether you’re an ultra-high-net-worth individual, high-net-worth individual, or still working to build your wealth, there is a place for you in the philanthropic space. Read this guide to understand all things philanthropy, including what motivates one to give, the main difference between charity and philanthropy, how to select an organization to give back in Canada, and more.