VANCOUVER, BC, June 5, 2019 — The team at Charitable Impact has two words for the nearly 100,000 donors who contributed more than $390 million to the foundation’s donor-advised fund by the end of fiscal year 2018.
“Thank you — for taking action and contributing towards the change you want to see in the world.,” said Founder and Chief Executive John Bromley, who was recently honoured with the Canadian Advanced Technology Alliance’s CEO Community Leadership Award. “We’re constantly inspired by the charitable spirit of donors and motivated to develop new approaches to help them achieve their giving goals, regardless of what causes or charities they care most about. Every day, we help thousands of people to give more meaningfully and strategically, and we’re here to help at each step of their journey.
Bromley also attributed the growth of Canada’s first fully web-based donor-advised fund to the hard work and support of the entire Charitable Impact team, a highly experienced board, and financial and strategic advisors such as Deloitte and Norton Rose Fulbright.
Just how successful was Charitable Impact in fiscal 2018?
- Total donations increased by $110,591,626, or 163 percent, year-over-year.
- Non-cash gifts increased by $40,578,676, or 479 percent.
- Disbursements to charities were 65 times higher than the 3.5 percent required by law.
- Donations ranging from $5 to $19,478,438 were received.
- Nearly 3,000 different charities benefited.
Now available, the inaugural long-form of the foundation’s Annual Report provides a more detailed examination of its 2018 performance, structure and processes. The Charitable Impact board will release its second long-form report in the fourth quarter of 2019.
“We have every reason to be pleased with 2017-2018 compliance, growth and progress, and thanks to our innovation roadmap the best is yet to come,” said Board Chair Michael Cahén.
With more advanced features and exciting new projects on the horizon, Bromley is confident in Charitable Impact’s ability to provide better resources to help Canadians build the brighter future they imagine. “Giving can be an intentional and joyful part of daily life for everyone but the behaviour has to be nurtured. Using technology and a research-based approach to make the giving experience easier and more rewarding creates the context to take a giant leap forward.”
The Charitable Allowance Program, for example, is a pilot program that raises money from donors and then provides B.C. schoolchildren with a monthly allowance of $10 in their Impact Accounts to give away to create change in the world while also learning about charitable giving. To date, more than 2,000 charities, such as BC Children’s Hospital, Canadian Unicef, and the Canadian Red Cross, have benefited from their donations.
About Charitable Impact
Charitable Impact is a Vancouver-based public foundation that operates as a donor-advised fund. Since being founded in 2011, its mission has been to help donors give in the most meaningful, strategic, and cost-effective way possible.