Charitable Giving - A Starting Point
It isn’t a secret that the current passing down of wealth is the most significant of its kind in our history. With the definition of ‘family’ constantly changing and generations outliving those behind, the passing down of wealth may not be in the form we once anticipated. It seems, that in response to these various fluctuations in cultural expectations, testamentary dispositions to charities are on the rise. The only snag with that plan is that choosing a charity to leave your money to isn’t as easy as simply naming your kids.
I recently received the Canadian Donor’s Guide to fundraising Organizations in Canada (the “Guide”) which contains many interesting articles related to this field, as well as a listing of many charities seeking contributions. The following are a few of the likely considerations you should make before choosing a charity to donate to, as suggested by Mr. Malcolm Burrows in the Guide;
- How is the Charity going to use the Bequest?;
- Accountability of the Charity;
- Can the gift be designated for a particular purpose?; and
- Can a donor remain anonymous?
Although there are certainly many factors, both general and those specific to your charity which you may want to consider when making a donation, the above may start the ball rolling. For a more fulsome listing of questions and considerations, as well as a listing of charities, consider the Canadian Door’s Guide website as a resource.
Until Tomorrow,
Nadia M. Harasymowycz - Click here for more information on Nadia Harasymowycz.
