This new campaign asking foundations to increase donations could unlock $700 million for charities
Why It Matters
Canadian charities could see upwards of $4.2 billion in donations dry up this year in the economic fallout from COVID-19. Canada’s GIVE5 campaign is asking foundations to step up and help address the gap.
The COVID-19 pandemic has already had a profound impact on Canada: there have already been over 56,000 cases of the virus across the country, and by early May, job losses are expected to hit 5.5 million. The economic repercussions of the pandemic have already exacerbated the challenges charities face, and Imagine Canada has predicted a drop in donations of between $4.2 billion and $6.3 billion this year.
According to the organizers of a new campaign, this is the time for Canada’s philanthropic community to step up.
The GIVE5 campaign, launched by a collective of foundations across the country, is asking public, family, corporate, and community foundations to publicly pledge to donate at least 5 percent of their assets to charity this year. The group is hoping to have 100 foundations sign t
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