Advised Funds

Mobilizing funds for community-led change
Advised funds are an efficient and flexible way for purpose-led charitable giving, and a great alternative to starting and maintaining a standalone charitable foundation.

Advancing equity-enabling philanthropy

MakeWay has a 20-year track record as home to hundreds of advised funds. Our fund partners include diverse individuals, families, foundations, and communities that want to access this powerful tool for philanthropy.

We seek partners who are excited to learn from community, who have the courage to share power, and who are active in their approach to social, environmental, and economic justice.

Donor Advised Fund (DAF)

A DAF is a charitable giving vehicle that allows individuals, families, and organizations to make tax-deductible contributions to a fund, which MakeWay then manages. The Fund Advisor is the donor, who can recommend grants to CRA-registered charities and other qualified donees from the fund.

Community Advised Fund (CAF)

A CAF is a tool that is unique to MakeWay. Community partners set up a CAF, and donors contribute to the fund. The Fund Advisor is a community member who is arm’s length from the donor(s), and can recommend grants to specific CRA-registered organizations and other qualified donees.

How are advised funds at MakeWay Unique?

MakeWay takes a unique approach to advised funds, leveraging them to enable nimble, transformative philanthropy and build momentum for community-led solutions.

1. Connecting to purpose

All new funds are aligned with one or more of our organizational priority areas, giving funder partners the opportunity to tap into MakeWay’s deep relationship-based networks and experience.

2. Investing for positive impact

We believe all investments should generate positive social and environmental returns. That’s why we take an active, critical, and transparent approach to our fossil-fuel free investment portfolio. It’s also why we launched the ImpactDAF: the first customizable donor advised fund in Canada to be 100% invested for impact.

3. Building healthy pathways between philanthropy and community

We are creating shared learning opportunities for our community of funder partners to shift philanthropy to be more impactful, growing together along the way. In the coming year we will:

Shift more power to community with community advised funds

Aim to reach a 5% minimum disbursement rate for all advised funds, increasing that rate year over year

Provide strategic philanthropic support  for fund partners to increase flexible funding

Heighten transparency around purpose, value, disbursements, and investments of advised funds

Provide peer learning opportunities for fund partners

Explore DAFs and CAFs at MakeWay (click through to view fund purpose and donate).

Note: funds accepting public donations are highlighted in green.

To increase transparency, all grants from DAFs and CAFs are posted quarterly to our grants listing including: grant amount grantee name, and grant purpose

Types of Advised Funds*

*All of the below fund types can be advised by donors or communities.

Giving Fund
Invested Giving Fund
Impact Fund
Consider opening this type of fund if…
You are looking to make a high volume of donations in and grants out.
You are looking for a long-term investment with a financial return, making between 5 and 10 grants from the fund each year.
You are looking for a customizable impact investing solution.
Time horizon
1-2 years
1-10 years
5-10 years
Minimum opening donation
$5,000
$25,000
$1 million
Costs

Donations of less than $1,000: 6% of their value

Donations of more than $1,000: 1.75% of their value

Prorated monthly:

1.75% on first $500,000

1% on the next $2 million

0.5% on the next $2.5 million + investment management fees

1.75% annually based on the Fund balance + investment management fees