April 2022: Philanthropy & Perpetuity

Is perpetuity the default setting for grantmaking foundations in Canada? This special edition on perpetuity challenges this assumption. It is, however, not an easy topic for the booming sector of philanthropy in this country, as it raises a deep structural issue, whereby grantmaking foundations could be part of the problem they wish to solve. In other words, it questions the very reason behind their existence and their will, for some, to become a permanent fixture in the ecosystem. The relevant question to ask in such context: how can a traditional form of investment seeking measurable financial returns not sacrifice its positive social or environmental outcomes?

In sum, this special edition provides a consensus: if the disbursement quota is a tool, it is itself an insufficient one. This is clearly articulated at the policy levels by two documents in this edition. The authors are all in support to reform the disbursement quota. Hilary Pearson argues to tread gently, for as the “temporal dimension of philanthropy is a matter of life and death”. Perhaps this is not such a dramatic thought after all, as proposed by Lynda Mansson (Mava Foundation), since new generations of philanthropists could determine new agendas better aligned with emerging challenges such as the ones presented by climate change and social justice. Whichever side you wish to explore, this special edition on the topic will give you a succinct tour of the complexities around the need to reform the system and to modernize our Canadian public policy regulatory regime. It advocates for new holistic philanthropic models to meet the needs of communities.