Disbursement quota hike to 5 per cent given royal assent, now law

Beginning in 2023, foundations with assets of more than $1 million will need to boost the amount they give to charity

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.

var TRINITY_TTS_WP_CONFIG = {"cleanText":"Disbursement quota hike to 5 per cent given royal assent, now law. (Photo: Eric Mclean\/Unsplash) \u200b\u200bThis journalism \u200b\u200bis made possible by the Future of Good editorial fellowship covering the social impact world\u2019s rapidly changing funding models, supported by Future of Good, Community Foundations of Canada, and United Way Centraide Canada.\u00a0See our editorial ethics and standards here. For a cohort of philanthropic sector advocates, the holiday season just got a little brighter.\u00a0 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.\u00a0 The change introduce

Future of Good journalism and events produce insightful analysis and knowledge you need to work and grow.

Read this article with a free account or explore membership options for unlimited access.