The Globe and Mail had an opinion piece entitled, “If charities want to see a vibrant future, they should spend more of their assets today“. It is worth reading. It highlights the Ivey Foundation and its plan to distribute all of its assets over the next few years. It also highlights how foundations give little funds despite the significant current needs and the importance of foundations giving more.
The slight increase in the disbursement quota for registered charities with assets over $1 million will nudge some larger foundations to give more. However, far more is needed to deal with the significant challenges that the world is facing. Having $130 billion in private and public foundations, and only a tiny fraction being used for charitable good, may force policymakers to reconsider the tax incentives given to public and private foundations.