Four out of every five Canadians plan to make a charitable donation in the next 12 months, averaging an annual total of $694, according to the 2015 BMO Charitable Giving Survey released on Thursday.
Although the percentage of Canadians who plan to make a donation of some kind is down by 10 percentage points from last year, it is in line with the four-year average of 81% dating back to 2012.
As well, the average annual donation total is down from $719.79 last year, but Canadians are still continuing to follow a trend of generosity, says Marvi Ricker, vice president and managing director of philanthropic services with BMO Wealth Management, in a statement.
“Canadians continue to demonstrate their generosity in supporting worthy causes,” she says. “Charitable giving can provide a real sense of personal satisfaction, engagement and the ability to make a difference.”
The report also revealed that 69% of Canadians plan to donate during the holiday season this year, compared with 75% last year. The average holiday contribution is expected to be $167 vs $236.30 in 2014.
Despite the overall decrease, more than half (54%) said they plan to donate about the same amount to charities this holiday season as last year while 13% plan to donate more.
The survey was conducted by Pollara Inc. and the results were compiled from a random sample of 1,000 Canadians 18 years of age and over between Oct. 21-22. A probability sample of this size would yield results accurate to ± 3.1%, 19 times out of 20.