When considering "Who gives the most to charity?" the answer is increasingly the wealthy. Charities are acting rationally by targeting donations from the rich. Since. It’s more efficient than soliciting small donations from the poor. The affluent can also provide substantial contributions with far less effort, allowing charities to achieve their goals more effectively. Focusing on high-net-worth donors enables organizations...
T3010 Compliance for Family Foundations is an important consideration. Our family office manages several family foundations. And, there are a few things in the T3010 for 2024 that have caught our attention. Impact Investments Disbursement Quota (DQ) reporting Donor Advised Funds (DAF) Reporting Before we begin, let’s put your financial knowledge to the test with our free financial literacy quiz!
Donor Advised Funds (“DAFs”) serve as a bridge between donors' intentions and the realization of their charitable goals. DAFs often operate as charitable foundations offering services to groups of donors with a variety of goals. DAFs sometimes provide a wide variety of services including investment management and gift planning. And, there are over 20,000 donor advised fund accounts in...
What is a DAF? And, what are the benefits of giving to a DAF? At its core, a Donor Advised Fund (“DAF”) serves as a bridge between donors' intentions and the realization of their charitable goals, offering a sophisticated yet accessible means to support causes close to their hearts. However, DAFs are one of the most misunderstood areas of philanthropy....
The Donate to Eliminate strategy is a practical approach for donors using the exemption from capital gains tax on donations of appreciated securities. This strategy ingeniously uses a tax strategy to support philanthropic goals. And, by focusing on the donation of appreciated public securities, such as stocks, this method not only amplifies the value of charitable contributions but also smartly...
For wealthy investors, managing investment income goes beyond merely staying within favorable tax brackets. When personal income from dividends and interest is substantial, traditional income splitting between spouses may not suffice, as both parties could still end up in higher tax brackets. Therefore, it's crucial to think more broadly about income splitting and consider strategies that align with long-term financial...
To improve impact, it's crucial that all charitable foundations continuously refine their approaches to increase their efficiency. Here, are six strategies to help your foundation amplify its impact:
When it comes to philanthropic giving, individuals and organizations have a variety of avenues to support causes they care about. One increasingly popular option is the use of Donor Advised Funds (“DAFs”). DAFs offer a flexible and efficient way for donors to contribute to charitable causes. However, there are ongoing discussions surrounding the benefits and drawbacks of DAFs. In...
Family foundations can play an important role in philanthropy and social impact, but their long-term success depends on effective leadership and governance. Without a succession plan in place, your family foundation may face a range of challenges that can undermine its effectiveness and sustainability. In this blog post, we'll explore the top 10 problems your family foundation will have without...
Having plans for the succession of your family foundation in place before they’re needed is critical if you want to avoid legal disputes, conflict between family members, and ending the good works your foundation supports. In this blog post, we'll explore the importance of creating a succession plan and the key benefits to consider.
