Disbursement quota hike to 5 per cent given royal assent, now law
Why It Matters
The disbursement quota governs the amount of money foundations must spend on charitable activities and flow to communities each year. The raise in the rate will mean more money for community service organizations moving forward.
(Photo: Eric Mclean/Unsplash)
This journalism is made possible by the Future of Good editorial fellowship covering the social impact world’s rapidly changing funding models, supported by Future of Good, Community Foundations of Canada, and United Way Centraide Canada. See our editorial ethics and standards here.
For a cohort of philanthropic sector advocates, the holiday season just got a little brighter.
Last Thursday, the Fall Economic Statement Implementation Act, 2022 was given royal assent, making law, a change promised in Federal Budget 2022, to raise the disbursement quota for large charities and foundations.
The change introduces a
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