National Philanthropy Day is a call to charitable action

The thousands of Canadian philanthropists who give generously each year to their preferred causes share some common characteristics. Namely, their kindness is selfless and their dedication to making a difference tends to be utterly relentless. They give not only because they can, but because it’s a key part of their personal identity. National Philanthropy Day is not only an opportunity to give their work the applause it deserves, but to remind us all of the work to be done and the strategies that can be implemented to make charitable giving even more effective.

As we’ve noted in the recent past, the coronavirus pandemic has created enormous challenges across our sector. Many non-profits have struggled to achieve their mandates as fundraising initiatives were curtailed by COVID-19-related social distancing measures or lockdowns. Demand for services skyrocketed for many charities just as funding became harder to acquire. Many charitable organizations remain in a distressed situation and are desperate for support. Thankfully, we can report that our foundation clients gave at record high levels throughout 2020 and 2021, supporting so many essential organizations.

National Philanthropy Day is an opportunity to take note of the non-profits that still require help and a call to action to provide that vital assistance. But it’s also a time to acknowledge the generosity of Canadian philanthropists.

At Canada Gives, we’ve largely bucked the lower-donation trend that has hampered the efforts of some charitable organizations. While statistics show that, on the whole, Canadians are giving less, we’ve seen a marked increase in donations as well as grants over the past two years. Stay tuned for more information in the coming months, but Canada Gives is on track for another very successful year of growth and grants to the charitable sector.

Many of our donor clients are giving larger gifts and becoming even more engaged in their support of various causes. That’s a two-fold win for charities and non-profit organizations that not only require funding assistance, but can also benefit from the widespread experience and expertise that so many of our Foundation account holders have to offer, often due to their impressive professional resumes.

Challenges on the horizon

There could yet be daunting obstacles ahead that our sector will be forced to clear. All indications are pointing to the federal government increasing annual disbursement requirements for charitable foundations. The intent would be to increase funding to the non-profit sector, a laudable goal, indeed. But the move could well backfire. That’s because increased quotas will limit the growth of capital within foundations and could even cause an expedited liquidation of many foundation accounts. Charities rely on stable long-term funding to plan and make reliable budgetary projections. When starved of those funds, their strategic initiatives will suffer. We sincerely hope that the federal government will take a delicate approach to any planned disbursement quota increase—or limit the idea altogether.

But perhaps most importantly, National Philanthropy Day is a great opportunity to remind philanthropists about the importance of being strategic in their giving. We’ve invested significant resources here at Canada Gives to bolster the capacity and capabilities of our Client Services team. Our goal is to help philanthropists make more effective gifting decisions that align with their personal values, deliver much-needed support to their favoured causes and achieve their giving goals. Because for many, the opportunity to make a lasting difference becomes a defining feature of their lives and a signature legacy they can leave for subsequent generations.

Building a lasting family legacy

On that note, this is also a wonderful time to bring children, grandchildren and loved ones into the philanthropic fold. By teaching them not only the importance of giving, but that such generosity is a part of the family’s shared values, philanthropists can ensure that their generosity will carry from one generation to the next. As so many of our donor clients remind us, having wealth delivers financial freedom, but being able to share it and to involve family in that process brings an entirely different level of satisfaction and fulfillment.

We would also make the point that the real benefit of National Philanthropy Day is looking beyond its core mission, which is to highlight the importance of providing ongoing support to various charities and non-profits across North America. We see it as a platform for making philanthropy a year-round habit. It’s a time to help budding and existing philanthropists alike learn more about charitable giving and to empower them with the tools they need to enhance the value of their life-changing work.

It’s an opportunity to help Canadians embrace philanthropy as a mindset and a core belief. Because the more funding that we can channel to the charitable sector, the greater the impact that we can have across communities both at home and abroad.

The Canada Gives team