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BMO Bank of Montreal

BMO Bank of Montreal

November 14, 2014 06:00 ET

BMO Charitable Giving Poll: Canadians' Donations Rise 8 per cent to Average of $624 With Plans to Give More in 2015

- Charitable giving levels rise for third year in a row, with more than 80 per cent saying they have made a donation in the past 12 months

- Canadians have good intentions for 2015, with 90 per cent expecting to make a donation averaging $720

- Health, anti-poverty and animal welfare continue to be causes of choice for Canadians

- BMO partners with ChangeIt to offer Canadians the ability to donate to their favourite charities by setting 'round up' amounts on BMO MasterCard purchases

TORONTO, ONTARIO--(Marketwired - Nov. 14, 2014) - According to the BMO Charitable Giving Poll released today, charitable giving efforts among Canadians are on the rise for a third consecutive year. The majority of Canadians say they have made a charitable donation in the past 12 months, giving an average of $624 - up 8 per cent from 2013.

The poll, conducted by Pollara, was released to mark National Philanthropy Day in Canada on November 15th. It revealed:

  • More than four-fifths (84 per cent) have made a charitable donation in the past 12 months, up from 77 per cent in 2013
  • The amount of giving has also increased, with the average donation totalling $624 - up from $580 last year, and $557 in 2012
  • Canadians also have good intentions for next year; 90 per cent expect to make a donation, averaging $720
  • Health, anti-poverty and animal welfare causes continue to be the most popular for Canadians (66 per cent, 39 per cent and 22 per cent, respectively)
  • Education (16 per cent) and environmental causes (11 per cent) saw the largest increase in donations in 2014, up 4 percentage points and 3 percentage points, respectively

"Year after year, Canadians have shown that supporting charities and causes across the country is a priority for them, and their generosity is showing no signs of slowing down," said Nick Mastromarco, Managing Director, Loyalty and Partnerships, BMO Bank of Montreal.

"We know Canadians are extremely generous," said Dr. Jacline Nyman, President & CEO of United Way Centraide Canada. "In fact, last year, Canadians invested over half a billion dollars through United Ways Centraides to make real and lasting change in their communities. These monies were invested in fighting poverty, supporting kids and building up healthy communities across this country. All Canadians want to invest their monies wisely and we are thrilled to see charitable investments growing in Canada."

The poll also ranked the most popular methods for donating among Canadians:

  • Donations of cash at specific locations (46 per cent)
  • Purchasing of products to be donated (40 per cent)
  • Donations added to point of sale transactions (29 per cent)
  • Online donations via credit cards (24 per cent)

Mr. Mastromarco added that regardless of the amount or method, it's important for Canadians to ensure they can track their donations, both from a financial planning and tax efficiency perspective.

"Using secure payment methods and tools and working with a financial planner to build charitable giving into your overall household budget can help ensure you maximize the amount you're able to give and take advantage of the tax benefits associated with your donations."

BMO recently announced a partnership with ChangeIt that offers Canadians the ability to donate to their favourite charities on a day-to-day basis by setting 'round up' amounts on their BMO MasterCard purchases and donating the difference to their charities of choice. The convenient and secure technology includes the ability to track donations online, set a monthly maximum and receive monthly summaries of donations and receive an official donation receipt for Income Tax purposes for every penny donated.

Regional Breakdown

Overall Atlantic Quebec Ontario Prairies Alberta BC
Made donation this year (%) 84 % 82 % 82 % 85 % 88 % 86 % 84 %
Average donation in 2014 $624 $738 $199 $718 $951 $1,028 $552
Expected overall donation in 2015 $720 $837 $239 $862 $1,109 $1,089 $593

BMO MasterCard customers can sign up for the technology at www.bmo.com/community2014 beginning November 13th. For more information, please visit www.bmo.com/community2014.

The survey results cited from the 2014 BMO Charitable Giving Report conducted by Pollara were compiled from a random sample of 1,003 Canadians 18 years of age and over between October 20 and October 22, 2014. A probability sample of this size would yield results accurate to ± 3.1 per cent, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had more than $586 billion in total assets and approximately 47,000 employees at July 31, 2014.

About United Way Centraides

United Ways Centraides across the country improve lives and build community by engaging individuals and mobilizing collective action. We do this through our focus on fighting poverty, supporting kids to thrive, and building healthy communities. United Way Centraide Canada (UWCC) is a bilingual leadership and service provider to the 108 United Ways Centraides across the country.

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