REPEAT-BMO Harris Private Banking Annual Philanthropy Report:

REPEAT-BMO Harris Private Banking Annual Philanthropy Report:
Charitable Giving is On the Rise in Canada 
- Seventy-nine per cent of Canadians made a charitable donation in
2012, an increase of more than 10 per cent from 2011  
- Average donation in 2012 is $557, up from $487 in 2011  
- Ontario led the country with 85 per cent having made a donation and
giving the highest average amount, followed by the Prairies and
Atlantic Canada 
- Health, anti-poverty and animal welfare are most popular causes to
support 
TORONTO, ONTARIO -- (Marketwire) -- 11/14/12 -- With tomorrow marking
National Philanthropy Day, BMO Harris Private Banking has released
the findings of its Second Annual Philanthropy Report which found
that the number of Canadians giving to charitable causes - and the
amount they are giving - is rising. 
The report revealed that almost 79 per cent of Canadians made a
charitable donation over the last 12 months, up from 68 per cent last
year. The amount they are giving has also increased, from an average
of $487 in 2011 to $557 this year. 
Ontario led the country with both the highest percentage of
individuals (85 per cent) who donated in 2012 and with the highest
average amount ($778) given as well. The Prairies were the second
highest region in the country with 84 per cent donating and an
average amount of $751, followed by residents in Atlantic Canada at
78 per cent with an average of $616.  
According to the report, the most popular causes Canadians supported
include: 


 
--  Health and medical (60 per cent) 
--  Anti-poverty (45 per cent) 
--  Animal welfare (30 per cent) 
--  Education (19 per cent)

 
"Canadians continue to demonstrate their generosity in supporting
charitable causes," said Marvi Ricker, Vice President & Managing
Director of Philanthropic Services, BMO Harris Private Banking. "It's
very gratifying to see that not only are more Canadians choosing to
donate, but the amount they're giving has increased too. Donating to
a worthy cause is a great way to support one's community and help the
less fortunate." 
Ms. Ricker noted that studies have shown that supporting charitable
causes can increase one's overall happiness. Additionally, it allows
individuals to take advantage of valuable tax benefits.  
The rep
ort also found that only 18 per cent of Canadians have a
specific strategy for giving; meanwhile, 45 per cent donate on an ad
hoc basis. Furthermore, just half (51 per cent) involve their spouse
or partner in their giving decisions and only 15 per cent involve
their children. 
"In order for your donations to have the maximum impact, consider
working with a financial professional to develop a giving strategy
that becomes part of your overall financial plan," added Ms. Ricker. 
BMO Harris Private Banking provides the following tips for those
looking to develop a giving strategy: 
Speak with a professional: Regardless of the amount you are going to
be donating, work with a financial professional to develop a plan
that includes a budget for giving. This is an important first step to
a sound strategy. 
Gifts of securities: Recent federal budgets have fully eliminated the
capital gains tax on donations of publicly traded securities to a
registered charity. These include shares, bonds and mutual funds.
Donating securities is more advantageous than selling them and
donating the cash proceeds; the capital gain on the donated
securities is tax-free. 
Consider alternative methods: Credit cards, like BMO's World Elite
MasterCard, provide cardholders with the ability to donate their
points to charities. Customers can use their points to make a
donation to five charities: United Way of Canada, The Canadian Cancer
Society, The Canadian Red Cross, Make-a-Wish Foundation of Canada,
and Community Foundations of Canada. 
Regional Breakdown- BMO Harris Private Banking Philanthropy Report  


 
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                                       Total  ATL   QC   ON  MB/SK   AB   BC
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Percentage who donated to a charity       79   78   72   85     84   77   77
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Average amount donated (in $)            557  616  129  778    751  558  512
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Percentage who have a donating                                              
 strategy in place (i.e. a                                                  
 philanthropic plan)                      18   23    9   21     17   20   20
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For more information, please visit:
http://www.bmo.com/harrisprivatebanking  
Get the latest BMO press releases via Twitter by following @BMOmedia. 
The online survey was conducted by Pollara from November 2 to
November 5, 2012 among a randomly-selected, representative sample of
1,000 Canadians aged 18 years and over. A probability sample of this
size would yield results accurate to +/- 3.1%, 19 times out of 20.
Contacts:
Media Contacts:
Amanda Robinson, Toronto
416-867-3996
amanda.robinson@bmo.com 
Valerie Doucet, Montreal
416-877-8224
valerie.doucet@bmo.com 
Laurie Grant, Vancouver
604-665-7596
laurie.grant@bmo.com