Private philanthropy has been an integral part of Canada’s legacy to the charitable community. A philanthropist who wishes to strategically organize his or her charitable giving has many options. This article explores one of them: the private foundation.
A charitable foundation is an entity that is constituted and operated exclusively for charitable purposes. It may be created by trust or incorporation. A charitable foundation generally fulfills its charitable purposes through the disbursement of its assets to other qualified donees, which include other registered charities.
In general, a qualified donee includes:
Read this article to learn more about how to set up a private foundation.