TORONTO, ON–December is holiday giving season, when companies and Canadians join together with charities to help those in need.
Kristine Remedios (left), KPMG’s Chief Inclusion and Social Impact Officer, leads the firm’s national inclusion and diversity strategy which leverages the capabilities and collective impact of employees, clients, non-profits and charities to achieve positive social change.
“The holiday season is a crucial fundraising time for charities, when we see a spike in donations from Canadians and businesses,” says Ms. Remedios. “It’s a great time for companies to donate to causes their employees care about that are aligned with their business and purpose, whether in retail, professional services or any other sector.”
“Philanthropy can be most effective when it’s part of a well-planned, holistic strategy that delivers a measurable impact,” Remedios states. “KPMG’s approach is guided by three UN Sustainable Development Goals: Good Health and Well-Being; Quality Education; and Reduced Inequalities. Working with organizations that share these goals, our employees are able to harness their skills and resources to break down barriers and make a difference in their communities and at a national level.”
During the busy countdown to the holidays, Remedios offers five practical tips to consider when giving to charities, regardless of the size of your donation:
Pick a cause you care about. With an estimated 86,000 registered Canadian charities to choose from, selecting a charity isn’t always straightforward. If you or your company don’t know where to start, pick a category – whether it’s food security, climate action, human rights, health, animal welfare or others. Do online research. You can browse through hundreds of charities on the CanadaHelps website.
Metrics matter. When selecting a charity, look for organizations that do a good job of communicating with donors and reporting on their impact. Does their reporting show measurable impact? For example, if the charity is involved in girls’ education, how many students have they helped and how have academic outcomes improved?
Involve family and friends. Many families involve children in their philanthropic planning to teach them about the importance of giving. While setting up a charitable foundation is not feasible for every family, consider inviting your child to donate a portion of their allowance or holiday gifts to a charity. By sharing your giving with friends, in-person or on your social media feed, you can inspire others to give.
Engage employees. Charitable giving is an opportunity for companies to reinforce their purpose — beyond products and services — and helps employees feel more connected to their employer. Offering opportunities for workplace volunteerism, such as KPMG’s Days of Caring, can be a powerful way to strengthen employee engagement and retention.
Year-Round vs. Year-End Giving. To avoid feeling cash-strapped at year’s end, make a plan for giving at the beginning of the year. For many, monthly giving is a win-win approach that debits your account monthly rather than all at once, and provides the charity with a predictable revenue stream. At the end of the year you can see your impact and make that year-end gift knowing it was part of your giving strategy.
December 31, 2019 also marks the deadline to claim a donation tax credit on your 2019 tax return. However you choose to make your donation – whether a cash donation or a gift of property – take advantage of tax incentives to help your gift go further.
About KPMG in Canada
KPMG LLP, an Audit, Tax and Advisory firm (kpmg.ca) is a limited liability partnership, established under the laws of Ontario, and the Canadian member firm of KPMG International Cooperative. KPMG has more than 7,000 professionals/employees in over 40 locations across Canada serving private- and public-sector clients. KPMG is consistently recognized as an employer of choice and one of the best places to work in the country.