Tides Canada’s new initiative with the Genus-SVX Impact Investment Counsel advances Impact Investing for Canadians
Vancouver, BC (May 28, 2019) — Today, Tides Canada is launching ImpactDAF, the first customizable Impact Donor Advised Fund¹ (DAF) in Canada to be 100 percent invested for impact.² This first-of-a-kind charitable vehicle will make use of the Genus-SVX Impact Investment Counsel platform to create a new way to maximize philanthropy by bringing together charitable giving and impact investing.
The ImpactDAF offers a unique opportunity to align and activate investment capital and philanthropy. Typically with a donor advised fund, impact is only derived from grant dollars while the underlying investments often have neutral or negative impacts. By creating an ImpactDAF, positive impacts are created through both the grantmaking dollars and investments.
Tides Canada’s ImpactDAF will be invested with a customized strategy that aligns with each DAF’s mission, and the success of the portfolio will be measured using a methodology aligned with the United Nations Sustainable Development Goals (SDGs).
Joanna Kerr, President and CEO at Tides Canada said: “We’re excited to launch our new ImpactDAF model today. This ground-breaking philanthropic vehicle will enable more community-led transformation for social, economic, and environmental justice. And, it offers donors a new way to better align their contributions with their values.”
Tides Canada’s ImpactDAF will be invested and managed by the Genus-SVX Impact Investment Counsel, a strategic partnership between Genus Capital and SVX.
Adam Spence, Director of SVX said: “By combining impact investing and charitable giving, the ImpactDAF allows individuals and institutions to mobilize their philanthropic assets toward 100 percent impact.”
JP Harrison, President of Genus Capital said: “We are thrilled to be chosen by Tides Canada as the Impact Investment Manager for this innovative instrument. This will go a long way in supporting the ambitious goal of the Genus-SVX Impact Investment Counsel to mobilize $100 million in impact investments by 2020. There is a perfect synergy between our organizations and goals, and together we’re making it easy for Canadians to donate in a way that makes an even greater impact.”
The global impact investing market was worth $502 billion in 2018, effectively doubling in size since 2017. In 2017, SVX researched high-net-worth individuals’ (HNWIs) interest in impact investing and found the vast majority of Canadian HNWIs are interested, with 89.8 percent of all those surveyed expressing some degree of interest in impact investing.
This ImpactDAF is designed for foundations, philanthropists, financial advisors, families, and individuals that have a minimum $1M balance.
- Donor advised fund: A donor advised fund (DAF) is a fund held for charitable giving. DAFs offer a central place for all giving, therefore minimizing administrative costs and burden. Donors can contribute to the fund at any time and receive a tax receipt—then recommend grants to charities over time.
- Impact investments: Impact investments are investments made in companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return.
About Tides Canada
Tides Canada is a leading national charity that enables community-led transformation for social, environmental, and economic justice. Tides Canada provides tools, expertise, and strategy to move from vision to impact. www.tidescanada.org
About the Genus-SVX Impact Investment Counsel
The Genus-SVX Impact Investment Counsel is a strategic partnership designed to address the challenges faced by foundations, high net worth individuals, charities, endowments and pension funds, in becoming impact investors. The Counsel seeks to make impact investing easy to execute, and to mobilize $100 million in capital toward impact investments by 2020. For more information, visit https://genuscap.com/impact-investment-counsel/