Denise Castonguay, founder of Canada Gives, discusses the benefits and flexibility of donor-advised funds (DAFs) for charitable giving. She explains that a DAF is a legal entity, similar to a mutual fund, that allows individuals or companies to open an account under the umbrella of a public foundation like Canada Gives. This eliminates the need to register a separate legal entity and simplifies the process of setting up a charitable giving structure. Castonguay also highlights the ease of donating appreciated securities and the tax advantages of doing so. She emphasizes the importance of individual responsibility in philanthropy and the ability to involve family members in the giving process.
Takeaways
- Donor-advised funds (DAFs) are a flexible and easy way to set up a charitable giving structure without the need to register a separate legal entity.
- DAFs allow individuals or companies to open an account under the umbrella of a public foundation like Canada Gives, simplifying the process and eliminating administrative hassles.
- Donating appreciated securities is a tax-efficient way to make charitable contributions.
- Individuals can involve their family members in the giving process and teach them about the importance of philanthropy from an early age.
Keywords
charitable giving, philanthropy, donor-advised funds, Canada Gives, legal entity, mutual fund, public foundation, simplified process, appreciated securities, tax advantages, individual responsibility, family involvement
DENISE CASTONGUAY
Founder, Canada Gives
Denise founded Canada Gives in 2005, with the goal of becoming the premier administrator of family foundations using donor-advised funds. In doing so, she endeavoured to bring financial industry standards and practices to the not-for-profit sector.
Equally important to Denise is providing services that add long-term value to both donors and charities in the not-for-profit sector. As a result, Canada Gives Foundation clients are making significant gifts to the charities they support, and are encouraged to be active and fully engaged as they build a lasting philanthropic legacy.
Denise works closely with professional advisors with highly philanthropic clients. She knows that trusted advisors can add value for these clients by providing tax and estate planning advice for donation strategies, as well as prudent investment management of their Canada Gives foundation assets.
