Vancouver’s Charitable Impact has reached $1 billion in total donations.
Charitable Impact is Canada’s first fully web-based donor-advised fund (DAF) and it reached the $1 billion mark faster than any other DAF in Canadian history.
DAFs are registered charities in Canada that allow a donor to donate to the charity but the donor retains the ability to recommend which registered charities or qualified donees will receive the funds.
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.
And with Charitable Impact, donations don’t need to be cash. Charitable Impact can process donations of 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.
With Canadians disengaging from charitable giving in record numbers, this billion-dollar milestone validates Charitable Impact’s disruptive donor-centric approach.
“Generosity comes naturally to Canadians, but knowing how to give charitably doesn’t. By improving the giving experience, Charitable Impact is helping more people re-engage with giving. Our DAF gives donors the time and space to focus on their giving interests and allocate donations however and whenever they see fit, while our digital resources enable them to shape and carry out their charitable intentions,” Charitable Impact founder John Bromley (pictured) told BNN Bloomberg.
“This game-changing combination is helping more and more people unlock the full potential of their generosity and create the change they want to see in the world.”