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"In a just world, there would be no need for charity." Discuss.
This quote from Bertrand Russell (1932) resonates with many today, especially given concerns about economic and social injustice and debate about the role of government and philanthropy. But is it true? And what would the world look like with no philanthropy?
Philanthropy scholar in the UK, Rhodri Davies, has written an insightful exploration of these very questions, In an ideal world, would there be no philanthropy? It is a lengthy read but worth every minute, as he tackles common quips against philanthropy that are often left unexamined.
Davies concludes philanthropy will likely always need to play a role in vibrant societies. With a mission to help those who give, give well, Watermark agrees. What do you think?
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Start your learning journey
New to formal philanthropy? Let's go! Considering a new approach to governance? Woo hoo! Inspired by a new but unfamiliar giving interest? Giddyup!
Let Watermark take you on a customized learning journey, to ignite the joy of giving, nurture a culture of curiosity, and inspire your understanding and work in philanthropy and leadership.
Watermark works with you, your family, or board to design a dynamic individual or collective learning experience. The fun, self-reflection, and shared insights will open new possibilities and deepen your impact.
Contact us to explore what's possible.
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The new Alternative Minimum Tax (AMT) proposal in Canada:
Implications for your next major gift
Canada's Federal Government has proposed changes to the AMT regime (targeted at high-income individuals) that result in a reduction of the donation tax credit by 50% and an increase of the capital gains inclusion rate for donated assets.
Intended to come into effect January 1, 2024, many within the charitable community such as the Canadian Association of Gift Planners have advocated against these changes. There is significant concern it will have a detrimental impact on transformational charitable giving to charities across the country, projected to be as much as 30%. However, there are alternate views on the proposed AMT changes and their implications, given tax issues alone rarely drive the motivation to give.
It is too soon to know whether advocacy efforts will have an impact, so if making a major charitable donation with assets in Canada is on your radar you may want to do it by December 31, 2023. Watermark can help you plan your next major gift and also recommends you consult professional tax advice specific to your circumstances.
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Women givers make their mark
As women in Canada increase their share of the economic pie through their own wealth creation, divorce, or inheritance, they are also increasing their influence in philanthropy.
Sharilyn joined Suzanne Duncan of The Canadian Women's Foundation and Wafa Kadri of Cenovus Energy in a rich conversation about the giving and volunteer lives of women in Canada. Drawing from research and personal anecdotes, they mapped a diverse landscape of women who care about their communities and see they have a role to play in making them better. You'll hear themes reflected from the A-frame approach to giving - authentic, accountable, and activated.
Watermark supports women givers at various ages and life stages, and especially during times of transition and change. Contact us to learn more.
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AI and philanthropy: Mitigating harm, advancing social good
Artificial intelligence marks a rapid transformation of the role of technology in society, as explored in The AI Dilemma. Encouragingly, public interest technology (PIT) is a new field that works to ensure technology is created and used responsibly and in ways that protect the public, and whether some technologies should be developed at all. Through this lens, philanthropy must play a role.
In Canada, philanthropists Gerry Schwartz and Heather Reisman gifted $100 million to establish the Schwartz Reisman Institute for Technology and Society at the University of Toronto, to "ensure powerful technologies truly make the world a better place - for everyone." And, the Ford Foundation has advanced this work for more than a decade, with $100 million and a mission to "build an ecosystem that will lead to a more just technological future for all".
Even if you don't have $100 million, check out this publication by Canada's PhiLab on AI and philanthropy. It explores philanthropy's role in the development of AI, AI policy and governance, the practical role AI can play in grantmaking, and how investing in AI might help build greater capacity within charitable organizations.
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What's behind the concerning decline in volunteerism?
A new canary in the coal mine
The gift of time is a key component of a giving plan for many philanthropists, alongside treasure, talent, ties, and testimony. It allows you to share your expertise but also deepen your knowledge and connection to an issue or community. Long an indicator of robust civic capacity and the backbone of many organizations, since the pandemic the number of volunteers across the country has declined significantly. For some charities, this has directly impacted their service delivery. And, we know volunteers are more likely to also be donors than non-volunteers, making this trend doubly concerning.
What is behind this reduced participation, and what does it mean for the future? Disappearing volunteers: The looming crisis for nonprofits podcast from CharityVillage offers some critical insights and answers. While you listen, check out some of the great volunteer opportunities available in your community.
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Reparatory philanthropy in the Caribbean
For some who have traced family and organizational connections to and enrichment from the transatlantic slave trade, philanthropy has become a meaningful vehicle for making amends as they come to terms with their own history.
Over the last year alone, a number of headline-grabbing donations have been made including from the Trevelyan family, the Gladstone family, and the Anglican charity United Society Partners in the Gospel to Grenada, Guyana, and Barbados respectively. Alongside formal apologies, these financial contributions are providing land, scholarships, research, and entrepreneurship training. And, many of these donors are also using their influence to increase awareness of reparatory justice and inform policy, such as through the group Heirs of Slavery.
While the donors referenced are from the UK, giving out of a sense of reparatory responsibility was also a theme among some national philanthropists in the region who participated in Sharilyn's study on affluent giving in the Caribbean.
Indeed, the islands of the Caribbean share a history of colonization and slavery, the implications of which remain evident today in levels of social and economic development.
Sharilyn's recent article for Business Barbados notes that philanthropic investments directed at strengthening social infrastructure in the region are critical.
Watermark works with generous people and social purpose organizations across the Caribbean region. If you care about the Caribbean, see Sharilyn's Checklist for giving well in Barbados, which offers good advice no matter where you live or give.
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YOUR PHILANTHROPY MATTERS.
Strategy - Family Engagement - Governance
Serving leading philanthropists, generous families, and social purpose organizations in Canada and the Caribbean, Watermark offers customized expertise to help those who give, give well, engage their families, and channel their wealth and influence for good.
Contact Dr. Sharilyn Hale for a confidential exploration of your needs.
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