Mackenzie Investments released its inaugural 2020 Canadian Charitable Giving Pulse Check, which shows that, despite the economic disruption caused by COVID-19, Canadians continue to show themselves to be a generous group.
Eighty-three per cent of Canadians surveyed have either already donated or plan to donate to a charitable cause in 2020. Further, the average estimated amount donated per person is $585. However, COVID-19 has had an impact on people’s ability to give, with 40%t stating that they have had to reduce the amount they planned to give this year as a result of the financial impact caused by the pandemic.
The study, conducted by Pollara Strategic Insights, also identified the most popular causes people are supporting. These include:
- medical services and research (54%);
- local and social services organizations – including sports and recreation, youth development, food banks, and shelter services (47%); and
- humanitarian and relief organizations (35%).
While respondents reported being relatively well informed about how to manage their donations, a significant number are seeking additional insight and advice in key areas:
- 57% would like to understand how to maximize the impact of their donation;
- 50% would like to learn how to manage donations in a tax-efficient manner; and
- 52% are interested in general best practices and strategies when donating to charities.
