All About Estates

Tag: Aqueduct Foundation

Total 9 Posts

The Charity Capacity Gap

Canada’s 85,896 registered charities have wide-ranging capacity, but these variations are often underappreciated.  Estate donors – and their professional advisors – often focus on cause and tax status, but ignore organizational health indicators like history, funding, staffing, and governance.  What should estate donors look for in a charity? Although all…

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Estate Donations for Charities Not Yet Registered

The 2018 Federal Budget hinted that Canadian newspapers may be able to receive charitable status in the future.  As I’ve previously written, making non-profit and local journalism an eligible charitable purpose is a timely idea — and it has implications for donor planning their estates.  The Federal Budget got me…

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Spend-down Charitable Funds

Until 2010, the disbursement quota provisions in the Income Tax Act mandated that charities handle donations in one of two ways: for immediate use or held as long-term endowments through the “10-year gift” capital hold mechanism.  These binary rules drove donor and charity behaviour.  The 2010 reforms provided charities with…

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How to Donate Art

  I get a lot of inquiries from clients with art or collectibles that they want to donate – sometimes during life and sometimes as part of an estate plan.  These long-term collectors often believe a public gallery, museum or educational institution is the best “one stop” destination for their…

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Time Matters in Philanthropy

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. …

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Combination Gift Plans

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…

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Life Insurance Gifts Restructured

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…

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Community-based Scholarships

Establishing a scholarship, bursary or other educational award is a popular charitable purpose in estate plans of the charitably-minded.   There are two ways to create these awards: 1) establish at an educational institution; or 2) establish at a foundation or charity to target a particular community.  Generally educational institutions,…

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When Charities Die

Contrary to public perception, it is quite common for charities to die.   The majority of charities are small, volunteer-run entities and some run out of steam and are deregistered.  Since 2011, over 7,536 charities have had their status revoked by Canada Revenue Agency for reasons ranging from exhaustion and mergers…

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