Between forming a giving strategy to maximize impact, knowing how and where to give, and the complex tax stipulations that naturally come with charity work, navigating the philanthropic space can be challenging for donors even at the best of times. 

A philanthropic advisor is a vital resource for clients of all backgrounds—from those lacking detailed knowledge in the space, to those who have the experience and understanding, but may not have the time required to carry out the legwork on their own.

But giving isn’t always so easy—even for advisors. Bloom Investment Counsel understands that the intricate complexities of philanthropic endeavours from the advisor’s perspective are not discussed or acknowledged. Amid instigating that difficult initial philanthropic discussion and executing personalized client plans, we know the world of charitable giving is anything but easy. 

But did you know that negating to engage in important discussions with your clients could actually cost you your clients? In this article, we cover important discussions you may wish to have with your clients.

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.