Over the course of the past year, it has become routine in the sector to hear of funding cuts and shortfalls in fundraising efforts. While there have been some bright spots, for the sector-at-large and for the foreseeable future, funding is weighing heavy on the minds of Executive Directors across the city.
As the voice of the voluntary sector, Imagine Canada is using their role to find innovative ways to incent charitable giving. In Alberta, we’ve already seen this innovation in the Community Spirit Grant offered by the Ministry of Culture and Community Spirit. This grant rewards organizations who are able to increase their base of private donors. Imagine Canada continues this type of charitable innovation with their proposal of the Stretch Tax Credit.
The purpose of the Stretch Tax Credit for Charitable Giving is to encourage more Canadians to give and to support those who do give to give more.
How it works: The Stretch Tax Credit for Charitable Giving would increase the federal charitable tax credit from 29% to 39% on all NEW giving that is over $200. This incentive will allow Canadians to “stretch” their giving even more.
Finding innovate ways to finance our charitable sector is cruical for its operations and sustainability. We know there is great value of the sector to deliver services both for the good of the community and on behalf of the government. For this reason, it is great to see Imagine Canada using its voice to find new ways of incenting charitable giving.
For more information or to get involved, please visit Imagine Canada.