Series - Editorial Fellowship: Transforming Funding Models

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

Author Kylie Adair
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.

(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

Our social impact coverage and insights enrich thousands of change makers like you everyday. Sign up for a free account with Future of Good to continue reading this series.