Charitable giving high on the to-do listBy Andrew Rickard | January 06 2016 09:22AM
More than half of Canadians say that donating to charitable causes is a priority for them this year.
In a survey of 1000 Canadians conducted by BMO Wealth Management, 60% of the respondents said that donating to charitable causes is one of their priorities in 2016. Asked about which charities they will support, 32% plan to donate to the same charities as they did last year while 56% are thinking about making some changes.
The top area for planned donations was the health and medical sector (54%), followed by anti-poverty and helping the disadvantaged (48%), animal welfare (27%), and foundations (20%).
While many have a cause in mind, 58% of those surveyed did not have a strategy in place for donating. Why do they not take a more systematic approach? The respondents said they prefer to give on a case-by-case basis (33%), don't think it is necessary (31%), or they simply lack the funds to give regularly (31%)
"Having a strategy for donating will help ensure that you'll make the greatest impact possible on the causes most important to you and also make the act of giving that much more rewarding for you and your family," comments Marvi Ricker, vice-president and managing director of philanthropic services at BMO Wealth Management.