New Watermark report (released June 2026) highlights Canada Gives’ commitment to active philanthropy

Canada’s donor advised fund (DAF) sector continues to grow rapidly, giving philanthropists more opportunities than ever to support transformative causes while creating lasting charitable legacies. As the sector evolves, so too does the conversation about how DAFs can best serve both philanthropists and Canada’s charitable community.

That conversation continued with the recent release of Growing Together: Informing a Positive Dialogue Between Charities and DAF Foundations Through Knowledge, Engagement and Transparency, a comprehensive report from Watermark Philanthropic Counsel. It’s one of the first major Canadian studies to examine the relationship between donor advised fund foundations and the charities they support, drawing on interviews with sector leaders, survey responses from dozens of registered charities, and analysis of Canada Revenue Agency data. Its objective is straightforward: to improve understanding, strengthen relationships and encourage greater transparency across Canada’s growing DAF ecosystem.

The report also paints a picture of an industry that is becoming an increasingly important part of Canadian philanthropy. Donor advised funds now hold approximately $16 billion in charitable assets in Canada, while the annual gifts from DAFs to charities total about $1.8 billion. Approximately 30,000 charities received at least one DAF grant between March 2025 and March 2026. As more Canadian families embrace strategic philanthropy, DAFs have become one of the fastest-growing charitable giving vehicles in the country.

The report examined grant-making activity across numerous Canadian DAF providers. But rather than simply measuring assets under management, it analyzed how actively DAF accounts distribute funds to charities. As the report states:

“In terms of gifts per DAF, the most active DAFs are managed by Canada Gives Foundation where, on average, each DAF made 3.2 distributions to charities, compared to a DAF-sector average of 2.2. At the other end of the scale, in terms of gifting frequency, are two established DAF foundations that recorded gifts well below half the number of reported DAFs. In other words, many DAFs were inactive and failed to make a gift in the reporting period.”

While it is clear from this report that all DAF Foundations are not the same, it’s gratifying to see Canada Gives DAF donor clients’ above-average generosity and our commitment to philanthropy recognized in this way.

At Canada Gives, we’ve always believed that DAFs (or as we call them, “Foundation accounts”) are ultimately established to support charities and creating meaningful impact in communities across Canada and around the world. While DAFs provide donors with flexibility in planning their charitable giving, we also believe that charitable capital should be working for charities whenever possible and help them meet both immediate and longer-term needs.

That philosophy influences everything we do.

Case in point: Our Foundation families made more than $35 million in charitable grants in 2025, for a total of 2,244 grants in all. At the same time, our total grants disbursed since inception as an organization has surged to nearly $188 million. That giving statistic best sums up our mission and the success of our philanthropists.

Indeed, our goal has never been to simply administer charitable funds. We work closely with our Foundation families to help them develop thoughtful, long-term giving strategies while encouraging regular, meaningful granting. We view every Foundation account as an opportunity to strengthen Canada’s charitable sector by helping donors translate generosity into action.

This commitment is reflected not only in their granting activity, but also in our ongoing efforts to exceed the annual minimum disbursement quota established by the Canada Revenue Agency.

The CRA requires charitable foundations to distribute a minimum percentage of their property—3.5 per cent of the average value of that property up to $1 million, and 5 per cent on the amount that exceeds $1 million—to qualified donees each year. While this requirement establishes an important baseline for charitable giving, we’ve consistently supported going beyond that minimum whenever possible. We believe charities benefit most when philanthropic capital is actively supporting programs, services, research, education, healthcare, the arts, environmental initiatives and countless other causes.

Of course, every donor’s philanthropic journey is unique.

Some families choose to make several grants each year. Others are building multi-year funding strategies to support transformational gifts or establish enduring family legacies. Our role is to provide the expertise, flexibility and support that enables each family to achieve its charitable goals while ensuring their giving remains deliberate and creates the greatest possible impact.

What unites our Foundation families is a genuine commitment to philanthropy.

They care deeply about making a positive difference. They support organizations that improve lives, strengthen communities and create opportunities for future generations. They understand that charitable giving isn’t simply a financial transaction—it’s an expression of values, compassion and long-term community leadership.

We’re privileged to work alongside these generous donors every day. The recognition in Watermark’s report belongs as much to them as it does to Canada Gives. Their ongoing commitment to active grant-making is what makes this achievement possible.

The report also serves as a timely reminder that the success of Canada’s DAF sector shouldn’t be measured solely by assets accumulated. Equally important is how effectively those charitable dollars reach the organizations working on the front lines of our communities. We believe DAFs can serve both donors and charities exceptionally well when they’re guided by transparency, collaboration and a shared commitment to generosity.

The Canada Gives Team

To explore how a DAF might help you build a legacy that reflects your charitable values, consider opening a Foundation account with Canada Gives. Our team is here to help guide your charitable giving with flexibility and foresight. To learn more, contact a member of our team.