The Will Power™ regional launch is the first step in a multi-year national effort designed to inspire Canadians to think differently about charitable giving
HAMILTON, Ontario, Sept. 01, 2020 (GLOBE NEWSWIRE) -- More than 80 charities, financial advisors and legal services from across Hamilton, Oakville and Niagara are joining forces to show Canadians the power they have to create positive change through a gift in their Will to charity. The Will Power™ regional launch is a pilot, and the first step in what will become a national public education effort aimed at empowering Canadians to raise as much as $40 billion in the coming decade through charitable gifts in their Wills.
The Will Power™ initiative is being spearheaded by the CAGP Foundation. The Canadian Association of Gift Planners (CAGP) is a professional association that brings together charitable fundraisers and advisors in Canada to create a better world through strategic charitable giving.
“Five per cent of Canadians leave a gift to charity in their Wills,” said Ruth MacKenzie, CEO of CAGP and Executive Director of the CAGP Foundation. “We intend to grow this number by making it clear to Canadians that leaving a charitable gift in your Will is not an ‘either-or’ proposition. You can make a big difference to the causes you care about, while still taking care of those you love most.”
The Will Power™ campaign is launching at a challenging time for Canada’s charitable sector, as revenue streams struggle to keep up with the increased demand for social services provided by charities and non-profits. Imagine Canada, the national umbrella organization that strengthens and supports charities and non-profits in Canada, estimates that by 2026 Canada’s charities will need an additional $25 billion in funding to meet increasing demand.
“Will Power™ represents a new way of thinking about giving, and an exciting new solution to the funding shortfall faced by charities,” said Laurie Fox, Will Power™ Campaign Director. “A great number of Canadians already give to charity, and this is a new way for them to help in a significant way. We want people to realize that a Will can be more than just a legal means to distribute your personal assets, but also a powerful tool for social change.”
Research conducted by the CAGP Foundation last year shows that while up to 86 per cent of Canadians are aware they can leave a charitable gift in a Will, more than 60 per cent immediately reject doing so because they believe it will take away from their support of loved ones.
“The reality is that your estate may be taxed significantly,” said Darren Pries-Klassen, CAGP Foundation Board Member, and CEO of Abundance Canada. “Choosing to support charities that you respect can reduce, and in some cases, even eliminate the taxes to be paid.”