Investigation

Foundations falling short: Who’s making use of the CRA’s ‘carry-forward’ loophole

Representing a collective $42 billion in 2019, these 14 charitable foundations are among the largest in the country, founded by some of the biggest names in Canadian business. From 2018 to 2019 alone, their collective investable assets grew a whopping 43 per cent, from $29.3 billion to $41.2 billion. But in 2019, none of them met the Canada Revenue Agency’s minimum threshold for running charitable programs and making gifts to other charities.

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