Clock ticking on charitable donations for 2023

Time running out to donate in this tax year Time is running out to make a charitable donation for the 2023 tax year & local non-profits say they’re grateful any help they received.

Time is quickly running out to make a charitable donation for the 2023 tax year.

Whether you make a cash donation or a gift of property – you still have to make the donation by midnight on Dec. 31.

Soaring prices of food and inflation have made giving back to some charities tough this year – a recent study by the Fraser Institute shows Canadians are giving less.

In 2021, the latest year of comparable data, only 17.7 per cent of Canadian tax filers donated to registered charities, according to the study.

The study also shows that Canadians are also donating a smaller share of their income than they did in previous years. In 2021, Canadians contributed 0.55 per cent of their household income or $11.8 billion to registered charities – a steep drop from the peak of 0.72 per cent in 2006 which would be more than $15.4 billion in 2021.

These numbers are particularly concerning given that many Canadian families have been dealing with a growing cost of living, particularly for food and rent for the last two years.

Even still, not-for-profits in northeastern Ontario told CTV News that they are grateful for any and all

help they receive.

Mary Lou Hussak is an executive director with United Way Centraide of North East Ontario, she said that her organization depends on donations from the community.

“We have workplace campaigns and we have individuals, individual donors that support us throughout the year,” she said.

“We couldn't do it without them.”

Hussak also said the United Way is not typically funded by the government unless there's a special fund that they are asked to manage, so it is up to our community to support the work that we do.

Ron Sim, the general manager of the Sault Ste. Marie Soup Kitchen Community Centre echoed Hussak’s sentiments.

"You know what donations, especially with what we're experiencing right now in the last... since the pandemic started up until now and with the way inflation has been going, especially food inflation, it's a… we're busier than we've ever been,” he said.

“We're seeing every type of client now."

As the cost of living continues to rise, charitable donations are critical to help vulnerable Canadians obtain necessities such as food, housing and clothing.

If you are able to give this year, while banks are mostly closed for the holiday weekend most charities we spoke with said donations can be made online via their websites right up until the midnight deadline.