Managing the Assets
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Once your client has opened a Foundation account and made a donation, Canada Gives opens an investment account to hold the assets with the donor’s choice of investment manager or advisor.
Both traditional and socially responsible investments can be selected for foundation assets, but there are strict guidelines on how the total investment portfolio is managed, the quality of securities and diversification requirements.
Duty to Invest
The Board of Directors at Canada Gives is responsible for the management of the assets in the foundation accounts they oversee, and must fulfill their fiduciary duty as outlined in provincial regulation (Trustee Act). The Investment Committee at Canada Gives has developed a Statement of Investment Policies & Goals (“IPS”) that complies with these regulations.
Under the current provisions, a trustee must exercise the care, skill diligence and judgment that a prudent investor would exercise in making investments and comply with an overriding duty to act prudently and reasonably. Acceptable investments include mutual funds and pooled funds, as well as separately managed investment portfolios with investment counsel firms. You may also establish your own separately managed portfolio and select the investments.