Consultation Paper on Total-Return Investing by Trustees

COMMITTEE ON THE MODERNIZATION OF THE TRUSTEE ACT, Law Institute, University of British Columbia, Vancouvera 1. Investment Strategy and the Distinction Between Capital andĀ Income The purpose of all investment is to acquire gain. It is no different in the case of a trust. Trustees invest the trust property in order to bring about an increase…

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’sĀ “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…

Bookshelf

Foundation Management in Canada: An Introduction for Trustees By Milton K. Wong, Leopold Amighetti, Jane Butterfield and Patti Ryan Published by M.K. Wong & Associates Limited, Vancouver, B.C. REVIEWED BY COLIN GRAHAM Vice President, Finance and Administration, Royal Conservatory of Music, Toronto Investment management is becoming increasingly complex and competitive. Foundations are not simply financiers…

Recent Legal Developments

Three recent decisions of the Ontario courts should be noted by charity trustees. Mutual Fund Investments by Trustees First, in Re Haslam and Haslam [(1994), 114 D.L.R. (4th) 562 (Ont. G.D.)] the issue was whether mutual funds should be held to be permissible trust investments under the Trustee Act [R.S.O. 1990, c. T-23]. They are…

Case Comment: Remuneration of Directors

Should directors of charitable organizations be permitted to pay themselves for services rendered to the organization which are not related to their duties as directors? The propriety of such actions as well as the necessary procedures to guard against any abuse of authority relating to such payments have been carefully considered by Ontario courts on…