private foundations

Flexible Philanthropy

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[caption id="attachment_21903" align="aligncenter" width="518"] Becky Matsubara, Wikipedia[/caption] 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 is what changed and some implications for estate planning. History Charity law, at….

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The Foundation Perpetuity Myth

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The philanthropic community has a perpetuity obsession.  Critics of perpetuity believe that preserving capital, restricting payout, and existing forever is the pernicious norm.  Admittedly, for some foundations, perpetuity a sacred ideal, an aspiration that is sometimes unquestioned.  Foundations that “spend-down” are valorized as rare entities that value community impact over capital.  But the reality is more complex.  There is a long history of foundations that aren’t perpetual, and in Canada….

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Philanthropy/Charitable Giving, Uncategorized

DONOR ADVISED FUNDS AND PRIVATE FOUNDATIONS

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This blog has been written by Mahsa Pezeshki, Charity and Not for Profit Clerk at Fasken LLP Vehicles for organized and strategic charitable giving Understanding the differences between these two vehicles is a good starting point for philanthropic planning. Each giving option can be an effective and personal method for enabling donors to make a lasting impact on a charitable cause close to their hearts. A Donor Advised Fund (DAF)….

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Charitable Giving, Estate Planning, Philanthropy/Charitable Giving, Tax Issues

When Private Foundations Die

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[caption id="attachment_15461" align="aligncenter" width="750"] “Vanitas Still Life” by Pieter Claesz, 1630.[/caption] Private foundations are believed to be durable entities.  Perpetuity is assumed.  Canada Revenue Agency (CRA) data shows, however, that 2,319 private foundations closed during the period 2000 to 2021. Growth in Private Foundations There are currently 6,213 private foundations registered in Canada.  The private foundation is the fastest growing category of registered charities.  To provide perspective, from 2013 to….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Foundation Disbursement Quota Increase

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  The 2021 Federal Budget announced the Government’s intentions to launch a consultation with charities about “potentially increasing the disbursement quota…beginning in 2022.”   Any increase of the disbursement quota (DQ) rate above the current 3.5% annual requirement will have significant implications for the charitable sector, foundations and donors.  Below is a longer than usual analysis of what it means and what to expect. Budget Announcement The Budget announcement is curiously….

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Philanthropy/Charitable Giving, Uncategorized

Strangers in Family Foundations

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Family charitable foundations are often equally about the family working together as they are about charity.  While the purpose of a foundation must be exclusively charitable, the founders’ hope is that future generations of family will have a place to work together and act on their values.   But how, particularly in an estate plan, do founders keep a family foundation on course?   One strategy is an independent director….

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Charitable Giving, Estate Planning, Philanthropy/Charitable Giving
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