- Experts at second annual Scotiabank Philanthropic Advisory Forum offer
strategies and tools to increase donor contributions through increased
VANCOUVER, July 21 /CNW/ - While the effects of the economic downturn are still being felt, the future looks bright for the charitable sector in Canada. Three philanthropic experts offered 150 local charities and foundations insights into philanthropic trends, the charitable giving climate in B.C., and the financial tools to drive organizational efficiency during the second annual Scotiabank Philanthropic Advisory Forum held in Vancouver today.
Nationally-known gift planner Malcolm Burrows, Head, Philanthropic Advisory Services, Scotia Private Client Group, noted that the philanthropic picture has taken a turn for the better due to the improved economic climate and regulatory changes in the sector.
"The biggest change to the regulation of charities in 34 years took place in March of this year when the Federal Budget repealed most of the disbursement quota (DQ) regime for registered charities," said Mr. Burrows. "Charities now have greater discretion about how and when charitable funds are deployed; endowments are more flexible, and capital can be used. The new DQ rules have put a spotlight on charity effectiveness and present opportunities to increase operational efficiencies and ultimately the bottom line."
In reviewing the top trends characterizing today's philanthropic environment, Mr. Burrows, Carolyn Tuckwell, President and CEO, Boys and Girls Club of Greater Vancouver, and fellow panellist Michael Pugh, Vice-President of Corporate Sales, Global Transaction Banking, Scotiabank provided strategies and tools to help charities achieve operational efficiency today and going forward:
- Encourage loyal donors through pre-authorized monthly donations;
- Outsource administrative systems such as online donations and
- Manage cash flow through streamlined processes;
- Manage risk through sound investment policies and eliminate
opportunities for fraud;
- Reduce paper marketing materials; and
- Review investment expenses.
"In the non-profit sector, we must achieve our missions while we responsibly manage the philanthropic investments in our work from the private sector," said Ms. Tuckwell. "The commitment to ensure our business models are as efficient and effective as possible will not only strengthen our individual organizations, but the entire charitable sector."
"Organizations are realizing the importance of becoming more inwardly focused on operational efficiencies; effective strategies to manage risk and maximizing cash flow are crucial for non-profit organizations," said Mr. Pugh.
Mr. Burrows also identified the biggest opportunities for fundraising currently:
1. Major Gifts: Major gifts bounced back faster than predicted. Strong
gains in the market have increased donor contributions, however major
gifts are still off the peak reached in 2007.
2. Capital Campaigns: Capital campaigns are again increasing as donors
and volunteers regain confidence after a period of careful donor
3. The Loyal Middle. Opportunities exist to deepen relationships with
these donors through monthly giving and online communication. This
group provides the best pool for large future bequests and planned
4. Tech Giving. The explosion of tech-enabled giving is growing in
popularity and has also engaged a younger generation of donors. This
type of giving is dependent upon charity "brand" and is not yet
conducive to building long-term loyalty.
About Boys and Girls Club of Greater Vancouver:
Boys and Girls Clubs of Greater Vancouver (BGCGV) has been in existence for nearly 75 years, providing a safe, supportive, supervised place for children and youth during their "out-of-school hours." Our Clubs and programs promote the healthy physical, educational, and social development of children and youth, through physical and social recreation, nutrition, homework support, summer camp, substance abuse counseling, and parent support programs. In a word, it is "prevention". Through seven neighbourhood Clubs, three substance abuse counseling programs, parent support groups, and Camp Potlatch on Howe Sound, BGCGV offers affordable (low or no-cost) out-of-school programs and services designed to help children and youth achieve their full positive potential to become contributing community members. Our programs are an alternative to unsupervised street-based activities, and to children spending time at home alone. Across the Lower Mainland we currently serve more than 4,000 children, youth, and families annually.
About Scotia Private Client Group:
Scotia Private Client Group, a member of the Scotiabank Group, provides customized solutions to help high net worth clients build, preserve and transfer their wealth. Scotia Private Client Group provides individuals and their families with tailored, tax efficient strategies that align their investments with their retirement and estate plans to help them achieve continued financial success. For more information, please visit www.scotiaprivateclientgroup.com.
About Scotiabank Global Transaction Banking:
Scotiabank's Global Transaction Banking (GTB) business provides financial solutions to commercial and corporate clients domestically and around the world by drawing on more than 175 years of banking experience to meet the needs of clients. Scotiabank, which was named "Best Trade Finance Bank in Canada" by Global Finance magazine for 2008 and 2006, through its Global Transaction Banking (GTB) unit, currently offers a wide variety of supply-chain financing services, including electronic banking and payments, trade finance, commercial and business cards, foreign exchange and correspondent banking. In partnership with Scotiabank's International Banking Division and its wholesale banking division, Scotia Capital, GTB has an extensive network in some 50 countries as well as unmatched NAFTA presence and unique footprint in the Americas.
Scotiabank is committed to supporting the communities in which we live and work, both in Canada and abroad. Recognized as a leader internationally and among Canadian corporations for its charitable donations and philanthropic activities, in 2009 the Bank provided about $39 million in sponsorships and donations to a variety of projects and initiatives, primarily in the areas of healthcare, education, social services and arts and culture. Visit us at www.scotiabank.com.
SOURCE Scotiabank - Products & Services
For further information: For further information: Michelle Cobb, Scotiabank Public Affairs, (778) 327-5451, Cell (778) 668-2995 or firstname.lastname@example.org; Patty Stathokostas, Scotiabank Public Affairs, (416) 866-3625 or email@example.com