How are grants made?
Around the beginning of each year, the Foundation will advise the donor
of the amount that his or her Fund has to grant over the remainder of
the calendar year. Using the Grant Recommendation Form (available
at www.mackenziefinancial.com/giving), the donor will provide the Foundation
with grant recommendations. Alternatively, the donor may provide standing
grant recommendations which continue until revised.
Is there a specific timetable to make grants?
The donor must grant the entire annual grant over the remainder of the
calendar year. If the donor does not provide recommendations to the Foundation
by November 15 , then the Foundation's Board of Directors
may issue grants to the same charities as selected by the Foundation's
"General Giving Fund".
Are there any restrictions in making grants?
Yes. The Foundation will not approve grants to individuals, private foundations or to political candidates or parties. Please see the Program Guide for more information.
Which charities can receive a grant from the Fund?
Any charity registered in Canada (other than private foundations) can
receive a grant from your Fund subject to the restrictions outlined in
the next question. For a list of the types of entities that qualify as
"Eligible Charities" please see "Eligible Charities"
in the Program Guide.
Are there any circumstances when a grant recommendation will
be refused?
Yes. The Foundation cannot approve a grant to satisfy a pre-existing pledge or for any private benefit such as annual dues, membership fees, benefit tickets, or goods purchased at a charitable auction. For example, if you pledged $50,000 to donate to a local hospital prior to the set-up of your Fund, you would not be able to grant from your Fund to satisfy your prior commitment.
Must I submit grant recommendations annually?
The Donor has the option of making recommendations annually or by selecting a standing grant recommendation (i.e. granting instructions remain the same year-after-year until the Account Holder advises otherwise, which may happen at the Account Holder's discretion, at any time).
Is there a minimum grant for each charity?
Yes. The minimum grant amount is $500. There is no limit to the number of grants that can be made from your Fund, other than adhering to this minimum grant amount.
Can I grant to more than one charity each year?
Absolutely. The donor may grant to multiple charities provided that the minimum grant exceeds $500.
Who can make recommendations on granting?
Generally, only you, the donor, may make recommendations unless you have recommended an "Account Holder Delegate" to make recommendations on your behalf. You may rescind their authority at any time. This authority is automatically terminated on your incapacity or death.
When are grant recommendations made?
At the beginning of each year, you will receive a statement showing the amount available to grant over the next twelve (12) months. Grants can be made at any time during that period.
Why does the donor have to "recommend" their grants? Isn't it their decision where the grants are directed?
No. In order to receive a tax receipt for a donation to the Foundation
(or to any charitable organization for that matter), you must make the
donation irrevocably and relinquish control over the donated assets. In
other words, you can't claim a donation on your tax return and still maintain
control over it. That is why the Foundation's Board of Directors must
have final authority over the issuing of grants. The Foundation will generally
approve any grant recommendation where the grantee is a registered charity
(or other permitted entity under the Income Tax Act - Canada) and meets
the guidelines of the program.
What happens if the donor forgets to grant or simply doesn't want to grant?
Granting from your Fund isn't an option. Because of disbursement quota
rules established in the Income Tax Act (Canada), the Fund must grant
each year. Furthermore, charities that you support may rely upon the grant
that they receive from your Fund. If you forget to grant (or if you have
not provided a standing grant recommendation), the Foundation will make
grants on your behalf to the same entities they have selected for their
General Giving Fund.
How does the Foundation decide how much money will be granted by each Fund?
The Foundation generally relies upon the "disbursement quota" guidelines established in the Income Tax Act (Canada) to determine how much money should be granted. While the guidelines are quite complex, each fund will typically disburse approximately 3% to 5% of its assets each year.
What if the donor wants to grant more than the amount set by the Foundation?
Unfortunately, the granting rate cannot be altered on a fund-by-fund basis. The amount that your Fund has available to grant for the calendar year is the maximum amount that it can grant until the following calendar year.
Can the annual grants to these charities be made anonymously?
Yes. The Program Application Form allows you to indicate that
grants from your Fund be sent to the charities anonymously.
How quickly are grant recommendations processed?
Typically, grant recommendations are processed on a quarterly basis -
in March, June, September and December. Grants based on standing grant
recommendations are processed in June.
Can the donor name someone to succeed him/her upon death or incapacity?
Yes. The donor is permitted to recommend a Successor - the person who
would continue to make recommendations upon the donor's death or incapacity.
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