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MOVE THE MONEY

ABOUT THE CAMPAIGN

The exploitation of Canadian tax law has allowed Charitable foundations to hoard over $85 billion dollars in charitable assets. If distributed, this money would create transformative change in providing security and proper access to opportunities and long term resources to underserved communities.

In the midst of a global pandemic, a climate crisis and a violence crisis, our needs are increasing and neglected communities are having to overcome more obstacles than ever before. Nevertheless, Canadian philanthropic foundations are only giving away a miniscule amount of the money given to charities each year. The time to use this money is now. It’s time to call for change.

This is where Justice Fund Toronto’s Six Pillars of Reform come in. With your help, we are calling on the Canadian government to help #MoveTheMoney and distribute it to those who need it most.

Use the email template to demand that Deputy Prime Minister and Minister of Finance Chrystia Freeland implement our Six Pillars of Philanthropic Reform.

IT’S TIME TO #MOVETHEMONEY

ABOUT THE CAMPAIGN

The exploitation of Canadian tax law has allowed Charitable foundations to hoard over $85 billion dollars in charitable assets. If distributed, this money would create transformative change in providing security and proper access to opportunities and long term resources to underserved communities.

In the midst of a global pandemic, a climate crisis and a violence crisis, our needs are increasing and neglected communities are having to overcome more obstacles than ever before. Nevertheless, Canadian philanthropic foundations are only giving away a miniscule amount of the money given to charities each year. The time to use this money is now. It’s time to call for change.

This is where Justice Fund Toronto’s Six Pillars of Reform come in. With your help, we are calling on the Canadian government to help #MoveTheMoney and distribute it to those who need it most.

IT’S TIME TO #MOVETHEMONEY

ReformING Philanthropy

We need the philanthropic community to play a stronger role in addressing the inequalities that exist in our city that lead to violence.

Foundations across Canada have amassed over $85 Billion in tax-payer assets, designated solely for charitable purposes.

We need significant philanthropic reform to ensure that these tax-payer assets are serving communities in need.

Pillars for Reform

Justice Fund is calling for the Government of Canada to introduce legislative changes to the Income Tax Act to ensure the philanthropic sector is more equitable and accessible.

1

Increase the disbursement quota from 3.5% to 10% immediately.

2

Lift the restriction on non-qualified donee.

3

Require all Canadian foundations to redirect their assets towards 100% impact investments by 2030.

4

Introduce mandatory spend-down requirements for all newly registered foundations in Canada and introduce guidelines to grandfather all existing foundations to spend their assets within a 30-year deadline.

5

Require a disbursement quota for each individual donor-advised fund (DAF).

6

Provide matching 1:1 incentives to foundations that transfer up to 3.5% of their capital assets to Black-led, Black-mandated, Black-serving and/or Indigenous-led public philanthropic foundations.