This is the first story in the Future of Good editorial fellowship covering the social impact world’s rapidly changing funding models, supported by Community Foundations of Canada and United Way Centraide Canada.
In 2016, the pitfalls of the ‘perpetual’ family foundation hit Kerny Korchinski like a wind storm ripping across the prairies.
In November of that year, Korchinski and his daughter Corinne Korchinski-Fisher were at a Philanthropic Foundations of Canada conference in Vancouver. It was time for break-out sessions, and Korchinski, a polo-shirt-wearing, white haired gentleman in his seventies, opted for a session about “spending down” — the practice of distributing all of a foundation’s money to charity and closing up shop for good. It wasn’t an approach he knew
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