Canadian baby boomers are generous in their charitable giving, but nearly half fail to plan or budget for their donations, a new report from the BMO Retirement Institute finds.

The report, called The evolution of giving: From charity to philanthropy, outlines results of an August 2009 Ipsos Reid survey of Canadian boomers. It shows that 44% of boomers donate to charities on impulse, without a plan or budget. Just 1% of respondents said they donate to charity as part of a plan or budget, with the help of a financial advisor.

The report shows that the recession has put a damper on charitable giving. More than half of respondents said they donated less money because of the economic downturn. But this could soon change: 82% reported they intend to either increase or maintain their level of giving in the next five years, with the majority indicating they would do so regardless of the economic climate.

The report finds that those who build charity into their budget or financial plan are much less likely to decrease their level of giving during an economic downturn. Similarly, Canadians who planned their donations in advance tend to give significantly more than those who do not.

Slightly more than half of those polled reported that they were “somewhat satisfied” with their current way of giving, and 34% expressed a desire to be in a position to give more.

Unlike their parents, who have tended to bequeath their donations, the report finds that boomers are giving during their lifetimes, so that they can see what impact their donations are making.

One in five boomers said they plan to leave money to a charitable organization as part of their estate plan.

Marvi Ricker, vice president and managing director of philanthropic services at BMO Harris Private Banking, has seen this first hand: “During the span of my career, I have witnessed a definite difference in the way people choose to give,” she says. “They have become more involved on a personal level and want to see results. Giving has taken on an element of strategy.”