Charitable Impact hits billion-dollar giving milestone in record time

With Canadians disengaging from charitable giving in record numbers, trailblazing donor-centric approach is reversing a troubling trend

VANCOUVER, BC, April 26, 2022 /CNW/ - Charitable Impact is proud to announce that it has reached $1 billion in total donations faster than any other donor-advised fund (DAF) in Canadian history.

"On behalf of the entire Charitable Impact Team and the thousands of charities that have benefitted, I'd like to thank every single one of our 164,000-plus donors for making this milestone possible and further validating our donor-centric approach," said CEO John Bromley, who founded Charitable Impact in 2011. "We're here for anyone who wants to make a difference, no matter who they give to, how much they give, or how experienced they are with charitable giving."

As Canada's first fully web-based donor-advised fund (click here for more information on how DAFs work), Charitable Impact's cause-neutral resources include:

• Impact Accounts: Like bank accounts for charitable giving, Impact Accounts enable donors to make, view and manage donations. Charitable Impact can process donations of cash and non-cash assets, including publicly traded securities, private company shares, real estate, life insurance, and even cryptocurrency. (Charitable Impact processed the first known donation of cryptocurrency to a Canadian DAF.) Because Charitable Impact operates as a DAF, donors have the chance to donate first, then separately make decisions around how they want to use their charitable donations. As a result, Impact Accounts enable donors to commit to charitable donations while taking the time and space they need to confidently create the most impact. For example, donors can learn more about charities that match their interests, making them more confident in their decisions. They can also send charitable dollars to friends and family for them to give away, engaging others in the experience of giving. Along the way, donors can receive expert support online, over the phone, or via a first-of-its-kind mobile app. By improving the giving experience, Charitable Impact is helping more people re-engage with giving.
• Charitable Investment Accounts: Allow donors to invest and grow charitable assets, with support from their own wealth managers if they so choose.
• Giving Groups: Enable groups of people to support one or more charities together. The "Ukraine Humanitarian Group - Red Cross" Giving Group, for instance, has raised more than $93,000 since Russian forces invaded Ukraine. "In the late 1930s my Grandpa fled Austria, and I wanted to do something to help families fleeing Ukraine," explained Kyle Gruen, the resident of Port Coquitlam, B.C., who launched the Giving Group. Supported by Charitable Impact's resource-rich platform, "our impact in helping this humanitarian crisis is amplified," he added.

With Canadians disengaging from charitable giving in record numbers, Charitable Impact's donor-centric approach is reversing a troubling trend. "Generosity comes naturally to Canadians, but knowing how to give charitably doesn't," Bromley said. "By developing resources to help donors shape and carry out their charitable intentions, Charitable Impact is helping more and more people unlock the full potential of their generosity and create the change they want to see in the world."

While the DAF giving model is gaining traction across North America, access to most funds is limited to those who can donate large amounts. Not so with Impact Accounts, which are free to open and do not levy fees on donations ranging from $5 to $5 million or more.

"We've focused on leveraging technology since Day 1 because it opens up our DAF to everyone who wants to make giving an intentional and joyful part of their life, and alleviates administrative burdens," Bromley said. "If you're a Canadian with a vision of a better future, Charitable Impact enables you to take conscientious, confident and impactful steps towards making it happen." 

For interview requests and media inquiries, please contact:

Denver Sparks-Guest
Media Relations Manager
778-995-1555
[email protected]

Media assets can be found here.

SOURCE Charitable Impact