Donor-advised funds (DAFs) are a great option for philanthropic Canadians who want to make a difference.
CEO & Founder, Benefaction Foundation
As we achieve success, giving back can become a natural impulse. “In today’s world of heightened social awareness, the desire to make a difference is gaining momentum,” says Nicola Elkins, CEO and Founder of Benefaction Foundation. “More and more, individuals see their personal wealth not only as a means to live well but as a way to contribute to today’s social needs or create a meaningful legacy for future generations.”
High-net-worth, charitably-minded Canadians are increasingly seeking advice on the most appropriate vehicle for philanthropic giving.
Donor-advised funds (DAFs) — in which donors make an irrevocable gift administered through a public charity, immediately receive full tax benefits, and recommend grants to their preferred charities over time — are an excellent option. The fastest-growing vehicle for philanthropic giving in Canada, they’re popular with individuals and families who value a planned approach to their philanthropic and financial affairs.
Strategic philanthropy made easy
“DAFs allow you to make grants to the charities you hold most dear while providing a flexible and cost-effective method of leaving a lasting legacy — similar to establishing your own foundation, but without the time and expense required to manage one,” says Elkins.
Benefaction, a national charitable public foundation, partners with financial service firms — like Assante Wealth Management and CIBC Private Wealth Management — to help them assist their affluent clients to harness the advantages of strategic giving. Its primary objective is to increase donations to Canadian charities by providing a planning-focused, tax-conscious philanthropic vehicle.