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August 05, 2010 Billionaires accept charitable challenge - Globe and Mail

Nearly 40 ultrawealthy individuals and families pledged Wednesday to give away half or more of their fortunes to charity, answering a challenge issued in June by famed investor Warren Buffett, Microsoft founder Bill Gates, and his wife Melinda.

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August 04, 2010 Mazankowski Heart Institute Receives $2 Million Gift

A few months ago, a generous gift -- $2 million to be exact -- landed quietly at the doors of the Mazankowski Heart Institute. The donation came from a city family wishing to remain anonymous, confirmed Myrna Fyfe, fundraiser extraordinaire at the University of Alberta Hospital Foundation.

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July 05, 2010 Philanthropist gives $20 million to children’s hospital

Bloorview Kids Rehab and Bloorview Kids Foundation announced that Canadian investment executive and philanthropist Bill Holland and his family have donated the largest gift ever to a Canadian hospital specializing in the treatment and research of children’s disability, $20 million. In recognition of the Holland family, the hospital and the foundation will be renamed as Holland Bloorview Kids Rehabilitation Hospital and Holland Bloorview Kids Rehabilitation Hospital Foundation.

For more information, visit: www.hollandbloorview.ca.

June 15, 2010 Protecting the money you give to charity

News Release

Ottawa, Ontario, June 14, 2010… Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency, and Minister for the Atlantic Gateway, wants to assure Canadians that they can feel secure with the choice of charities they support, thanks to the work of the Canada Revenue Agency.

"Charities play a very important role in Canadian society, and the Canada Revenue Agency recognizes their significance. The CRA wants Canadians to inform themselves when choosing a charity to support, and it has many resources available to help them do so," said Minister Ashfield.

Most of the approximately 85,000 charities registered in Canada abide by the tax laws. When non-compliance is suspected based on public complaints or the information provided on annual information returns, the CRA undertakes an audit. Last year, 810 charities were selected for audit, and as a result, the CRA revoked the charitable status of 40 organizations for serious infractions of the law. Many additional charities also lost their charitable status for failure to file their annual return.

When charitable status is revoked, an organization can no longer issue official tax receipts for the donations it receives and is no longer a qualified donee under the Income Tax Act. The organization is no longer exempt from income tax, unless it qualifies as a non-profit organization, and it may be subject to a tax equal to the full value of its remaining assets.

The CRA publishes the names of charities that lose their charitable status on its Web site, so that potential donors are aware that the charities can no longer issue tax receipts. The notice of intent to revoke and other letters relating to the grounds for revocation are available to the public on request by calling 1-800-267-2384.

Revoking an organization's charitable status is an important step that is used in cases of serious non-compliance. This includes, but is not limited to, instances where an audit identifies:

•significant non-charitable activity; •private benefit directed towards directors and/or related persons; •tax receipts issued in excess of actual gifts received or directed to specific persons; •failure to spend sufficient amounts on charitable activities; •gaps in or non-existent books and records; and/or •lack of control and/or direction over expenditure of funds. The CRA Charities Listings, available at www.cra.gc.ca/donors allows donors to search for any charity to view its annual information returns and verify that the charity they wish to donate to is registered. Visitors to the site can also find information on how the CRA regulates charities and tips for donating wisely.

The CRA Charities Listings, available at www.cra.gc.ca/donors allows donors to search for any charity to view its annual information returns and verify that the charity they wish to donate to is registered. Visitors to the site can also find information on how the CRA regulates charities and tips for donating wisely.

http://www.cra-arc.gc.ca/nwsrm/rlss/2010/m06/nr100614-eng.html

June 03, 2010 Carelton University Receives $15 M Donation

A Calgary businessman gave Carleton University a historic $15 million donation to create a new masters program aimed at the hundreds of ministerial aides who roam Parliament Hill and other corridors of power with no training and little accountability.

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