Canadians are truly a generous bunch. Statistics reflect that every year millions of us donate money to charitable and not for profit organizations to support causes near and dear to our hearts. In fact in 2010, according to Stats Canada, Canadians made 10.6 billion dollars in financial donations with an average annual amount per donor of $446.00. In addition to financial assistance, 79% of Canadians gave clothing, toys or household items, and 62% gave food. Overall, almost all Canadians aged 15 and over (94%) gave goods, food, or made a financial donation (courtesy: Statistics Canada April 16, 2012).
Benefaction is CIBC Wood Gundy’s “Giving Back Program” Benefaction is a national charitable Public Foundation that helps affluent Canadians and their Advisors harness the advantage of strategic giving. As a client you can donate cash, publicly listed funds/securities, life insurance policies and/or gifts from the estate through his/her will. The fund can be named after yourselves, your loved ones or otherwise. Benefaction gives The Wooding Group the ability to integrate charitable giving into your overall wealth plan, creating a meaningful legacy for your family and making a world of difference to those less fortunate. The Wooding Group will educate your family on how to create a charitable legacy for the future and along the way provide some tax savings! After we’ve set up your Foundation, we’ll manage the assets, provide the fund administration, tax and donation reporting, and of course each year we’ll disburse any income or capital gains generated by the fund to charities of your choice.If you’re interested in having a conversation about how Benefaction may work for you and/or your family, let us know!
If you’re interested in having a conversation about how Benefaction may work for you and/or your family, let us know!