Advise

The Role of the Professional Advisor

Professional advisors are in a unique position to support their clients to realize their philanthropic goals by helping to design charitable gifts that can maximize the tax and other financial planning benefits.

Research shows that only 7% of Canadians would leave money to charity in their will, in the absence of a specific discussion around charitable giving. However, if the issue is raised with them, perhaps when drawing up a will or financial plan, the figure rises to 27% - more than a three-fold increase.

One Example of the After-tax Cost of Philanthropy
(Assuming an Ontario resident in 2010 with taxable income of $60,000)

Donation $1,000 $5,000 $10,000 $25,000
Tax credit on donation 361 1,966 3,976 10,000
Net Cost 369 3,034 6,024 15,000

Resources from Community Foundations of Canada

Canadian Foundations

Talking About Charitable Giving

• Top 10 Reasons for Discussing Philanthropy
• How to Start the Discussion
• Ways to Talk About Giving
• The Life Stages of Giving
• Research on Charitable Giving in Canada
• Ten Reasons People Choose Community Foundations

Tools & Resources for Professional Advisors

• The Gift Matrix
• Gift Options Cash Appreciated Securities Bequests Life insurance
• Glossary of Charitable Giving Terms