Philanthropy isn’t just about writing a cheque; it’s about the mark you want to leave on the world. For many individuals and families, giving is one of the most meaningful ways to shape their legacy, connect with their community, and pass down values to the next generation.
The great thing about philanthropy is that it comes in many forms. It can be financial, like donating to a charity or setting up a fund, but it can also mean volunteering your time or sharing your skills. However you choose to give, it’s about making an impact that lasts.
And as we look ahead to 2026, this is the perfect time to think about how giving can fit into your bigger financial picture, not just as a one-off gesture during the holidays, but as an ongoing part of your wealth plan.
Why Build Charitable Donations into Your Financial Plan?
- Confidence
When you treat philanthropy as part of your financial strategy, you stay consistent. You aren’t second guessing if you really have $200 for a charity someone asks. You know you have $200 saved away to support causes you care about and you feel good donating.
- Charitable Donations & Tax Credits
Donations up to $200 receive a 15% tax credit, while amounts above $200 qualify for a 29% credit.
- In-Kind Donations
Do you have investments that have grown in value? Donating appreciated stocks or bonds directly to a charity means you can avoid capital gains tax on those stocks or bonds, while still making a difference.
- Donor-Advised Funds (DAFs)
A DAF allows you to make a large upfront donation, usually $25,000 or more, for a tax credit with a fund managed by a third-party entity. It is a more structured approach, and you can recommend how the funds are given over time. It’s a hands-off way to manage long-term giving.
- Bunching Donation
Some families choose to “bunch” several years worth of donations into one year to maximize tax savings. By doing this, you are able to exceed the standard threshold, allowing you to itemize this year and take standard deductions next year.
Thinking Beyond Tax Benefits
While the tax perks are great, philanthropy is about more than numbers. It’s about building a story your family can carry forward. You might:
- Involve your kids in choosing which charities to support, turning giving into a shared family tradition.
- Explore impact investing, where your portfolio reflects the causes you care about most.
- Include charitable gifts in your estate plan, so your support continues long after you’re gone.
To receive a tax-deductible donation receipt for 2025, you must donate to your favourite charity by December 31, 2025.
Your Legacy, Your Way
At the end of the day, philanthropy should feel personal. It’s about making sure your wealth reflects your values, not just your financial goals.
At MNK Financial, we love helping families find ways to give that feel authentic and impactful. Whether you’re just starting to think about charitable giving or ready to explore more advanced strategies, we’ll help you design a plan that leaves a lasting mark.
Thinking about your giving strategy for 2026? Let’s talk about how generosity can be part of your legacy.
About the author:
Manish Kanani B.Sc., CLU, CH.F.C., CFP, CIM
Portfolio Manager, Managing Partner
Q WEALTH PARTNERS
37+ years of wealth experience
