After a historic low in charitable giving across Canada, this donor-centric organization is seeing the trend reverse
Despite a reputation for being generous, Canadians reached a monumental low when it came to charitable donations in 2021, according to this report. However, as of April 2022, that trend seems to be reversing, if Charitable Impact is any indication. The Vancouver-based donation platform recently reached $1 billion faster than any other donor-advised fund (DAF) in the nation.
With some 164,000 donors, the foundation has helped thousands of charities with its donor-centric approach, which allows people to donate first and then decide where to give what. The DAF is basically a bank account for philanthropic efforts, allowing donors to make, view and manage contributions as well as grow their charitable investment assets.
The foundation’s Giving Groups arm also enables people to support charities together. For example, the Ukraine Humanitarian Group – Red Cross has raised about $93,000 since the Russian invasion.
The fully online platform can process cash and non-cash donations, including stocks, real estate, insurance and even cryptocurrency. (Charitable Impact was the first Canadian DAF to do crypto.) It also offers support online, over the phone and via its mobile app. “We’ve focused on leveraging technology since Day 1 because it opens up our DAF to everyone who wants to make giving an intentional and joyful part of their life, and alleviates administrative burdens,” CEO John Bromley said in a release.
“Generosity comes naturally to Canadians, but knowing how to give charitably doesn’t,” Bromley added. “By developing resources to help donors shape and carry out their charitable intentions, Charitable Impact is helping more and more people unlock the full potential of their generosity and create the change they want to see in the world.”