Understanding Your Giving Funds

This summary provides an overview of the key principles and processes for managing a Donor Advised Fund (DAF) through GiveWise.

For a complete understanding of the program and its detailed policies, please refer to the full DAF Program Guidelines document, which outlines all operational, compliance, and administrative details.

Establishing and Maintaining a Giving Fund

• What is a Giving Fund?: A charitable account to donate and grow assets that can be gifted to charities. Donations to GiveWise are referred to as contributions and are irrevocable and tax-receiptable (if applicable).

• Structure: Giving Funds are divided into the Giving Wallet for immediate gifting to charities and an Investment Account for long-term growth.

• Annual Disbursement Quota: At least 5% of the fund’s January 1 balance must be gifted annually, as per CRA guidelines.

• Customization: Giving Fund names are flexible (e.g., “Family Giving Fund”) and appear for charities on the gift details letters.

Contributions

Write something here on how donations to givewise are referred to as contributions.

• Accepted Assets: Cash, securities, cryptocurrency, real estate, and planned gifts.

• Methods: EFT, e-Transfer, cheque, wire transfer, credit card, and securities.

• Tax Receipts: Issued immediately for cleared contributions and comply with CRA regulations.

• Cut-off Dates: Contributions must be received by December 31 for tax receipts in the same year.

Gifts to Charities

• Eligible Gifts: To any registered Canadian charity; There is no minimum but GiveWise requests you a minimum of $20 per gift.

• Processing Time: Reviewed within 48 hours; disbursed weekly.

• Restrictions: Gifts must not result in personal benefits, e.g., membership fees, tickets, or goods.

Sharing Funds

• Share Feature: Donors can share funds with others, who must create a Giving Fund to accept them.

• Tax Receipts: Shared funds do not generate additional tax receipts.

Investment Account Management

• Eligibility: Balances over $25,000 are eligible for investment.

• Management: Donors can involve their Financial Advisor or use GiveWise-managed investments.

• Growth: Investment gains are available for grants but not tax-receipted.

Fees

• Giving Fund Fees: Tiered structure based on balance (0–1.0% annually). No fees for balances under $25,000.

• Transaction Fees: Fees apply to securities ($50), credit cards (2.20–3.50% + $0.30), cryptocurrency ($100), and wires ($25–$75).

  For a full breakdown of all fees, visit our Fee Schedule.