The Broadbent Report: An Overview

As incidents of corporate improprieties came to light during the early 1990s and concern about government profligacy spread throughout the western world, pressures grew to improve accountability and governance practices in the public and private sectors. By mid-decade, these pressures encompassed the voluntary sector as well. In Canada’s private sector, these pressures prompted a wholesale…

New Investment Powers for Charities

Application of Trust Law to Charities Introduction Trust law dealing with investment powers and duties may be applicable to charities in any of three ways: ( 1) the charity may be organized as a charitable trust; (2) the charity, even though organized as a corporation, may hold some funds subject to a trust separate from…

Special Challenges for Organizations with Small Investment Portfolios: A Case Study

This article was adapted from a March 8, 1999 presentation to the Strategy Institute’s “Foundation, Endowment and Not-For-Profit Investment Summit”, held in Toronto. In managing their financial assets, smaller foundations and endowments are affected by practical issues that large organizations may not need to consider. The main challenge facing organizations with smaller portfolios is twofold: gaining…

Foreign Activities by Canadian Charities

1. Introduction Section 149.1(1)(b) of the Income Tax Act sets out the prerequisites for a charitable organization. Included in the section is the requirement that all the resources of the organization must be devoted to the charitable activities carried on by the organization itself.1 Case law and not the Income Tax Act has provided us…

From the Editor

Our first two contributions in this issue provide readers with analyses of the Broadbent Report (Building on Strength: Improving Governance and Accountability in Canada’s Voluntary Sector, Final Report of the Panel on Accountability and Governance in the Voluntary Sector, chaired by Edward Broadbent, February 1999). Gordon Floyd, Vice-President Public Affairs, Canadian Centre for Philanthropy, describes…

Viewpoint: A Response to the Panel on Accountability and Governance in the Voluntary Sector

“Viewpoint” and “Counterpoint” provide forums for informed debate of issues of wide interest in the philanthropic sector. The opinions expressed are those of the authors.  The Panel on Accountability and Governance in the Voluntary Sector (the Broadbent Panel) undertook a massive task. Charged with developing guidelines that could have an impact on some 178,0002 organizations…