We are living in an age of personal philanthropy defined by larger donations and more donor choice. Increased flexibility is the key feature of this age – especially through charitable structures like private foundations and donor advised funds. Historically, charitable donations and structures been defined by restrictions and controls. Here…
Malcolm Burrows
Malcolm is a philanthropic advisor with over 30 years of experience. He is head, philanthropic advisory services at Scotia Wealth Management and founder of Aqueduct Foundation. Views are his own. malcolm.burrows@scotiawealth.com
My friend Aneil Gokhale, Director of Philanthropy at the Toronto Foundation, has a talent for facilitating discussions about money. What messages do we inherit and how do they inform our inclination for, and approach to, giving? These messages are the software that influence future behaviour, including openness to giving to…
Are will challenges easier when there are charitable beneficiaries? Moreover, if there are more charities named in the will does that heighten the likelihood of legal contest? This is the kind of “shop talk” that happens when charitable gift planners get together with trust professionals and lawyers. One lawyer told…
Fine art is an asset class of growing importance among the affluent and is beginning to be a significant part of select estate plans. A recent estimate pegged the international art market at US$57.5 billion in 2024 (a 12% decline from 2023) and Canada has seen some record prices at…
There is a saying among charitable gift planners: “beware of donors of in-kind property with valuations in hand.” In other words, some gifts may be too good to be true. This folk wisdom contains a serious point. Donors, executors and charities often struggle with the valuation of in-kind donation. Who…
Pieter Claesz, “Vanitas Still Life” 1630. Private foundations are believed to be durable entities. Perpetuity is often assumed at the planning stage. Canada Revenue Agency (CRA) data shows, however, that 3,073 private foundations closed during the period 2000 to 2025. Growth in Private Foundations Private foundations have seen significant growth…
Every few hundred years charitable endowments come under attack. The Trump administration has imposed tax on the investment income of private foundations of up to 10%, up from 1.39%, as part of the “One Big Beautiful Bill Act”. A similar bill, the Endowment Tax Fairness Act, seeks to Impose 21%…
In the U.S. there is a generation of contemporary artists who have never been richer and they are endowing – with art and money – some significant foundations. Cy Twombly Foundation, for example, reportedly has assets of over $1.5 billion. There is even a support initiative called the Artist-Endowed Foundation…
Founders are a source of innovation and energy in the social good sector. Lionized as “social entrepreneurs” they identify gaps and create organizations to fill them. But there is, sometimes, a dark side to founders. Donors, employees and stakeholders should be aware of these dynamics. Dr. Susanna Kislenko is a…
A common misconception about donor advised funds is that they are trusts, charitable purpose trusts. At times, lawyers, especially those with expertise in trusts and estates, struggle with this distinction, as do donors. In 2023, this issue came to the forefront when Canadian charities briefly thought they might need to…