Hirani Foundation
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The Hirani Foundation for Charitable Giving was established in 2010 by Hirani Financial Ltd. to provide grants to various charities. As a corporation registered with CRA, it is housed within the Strategic Charitable Giving Foundation, which is a registered charity. Most donations to the Hirani Foundation must be held for at least 10 years to allow for greater growth and impact. Current beneficiaries include the Calgary Humane Society and Juvenile Diabetes Research Foundation Canada. Applications for grants are restricted to registered Canadian charities and qualified donees. Minimum grants are $500 and the Foundation grants between 4-10% of its value annually.
Hirani Foundation
- 1. An Introduction to the Hirani Foundation for Charitable Giving The Hirani Foundation for Charitable Giving is an account held within the Strategic Charitable Giving Foundation. Established by Hirani Financial Ltd. in 2010 to provide various charities with philanthropic grants, The Hirani Foundation for Charitable Giving is a corporation registered as a public organization with the Canada Revenue Agency (CRA), and the Strategic Charitable Giving Foundation is registered with CRA as a charitable organization (registration number 802678748 RR0001). Creating a Legacy When the Hirani Foundation for Charitable Giving was created, it was established that 9096% of each donation be subject to a direction that is to be held by the Foundation for no less than 10 years. It was felt that by designating a large part of the donation as a 10-year gift the Hirani Foundation for Charitable Giving can maintain and invest the assets to grow in value through the years and ultimately make a more meaningful impact. Past and Current Charities Supported Current beneficiaries include (but are not limited to): n The Calgary Humane Society n Juvenile Diabetes Research Foundation Canada 206 Aspen Ridge Place S.W., Calgary, AB Canada T3H 0J6 | 403.690.0274 | shafik.hirani@shaw.ca
- 2. Applications for Grants For tax credit purposes, The Income Tax Act restricts granting to registered Canadian Charities and Qualified Donees. Accordingly, the Hirani Foundation for Charitable Giving will not approve grants to individuals, non-profit groups not registered as charitable organizations with the CRA, private foundations or political parties. The minimum grant amount provided by the Hirani Foundation for Charitable Giving to any eligible charity must be at least $500. Granting The Hirani Foundation for Charitable Giving will grant between 4% 10% of the accounts value each year to registered charities and other qualified organizations in Canada. Charitable Giving Program Account The Charitable Giving Program accounts are established with a minimum $25,000 irrevocable donation of cash, stocks, bonds, mutual funds or insurance. There are no fees involved with their establishment. Program fees are charged in relation to the operating expenses of the fund (i.e. audit, regulatory filings, legal expenses.) In addition, charitable administration fees of up to 1% may be levied. These fees are in addition to Management Fees. If you would like information on the establishment of your own Charitable Giving Program account, please feel free to contact Shafik Hirani at 403.690.0274 or email: shafik.hirani@shaw.ca 206 Aspen Ridge Place S.W., Calgary, AB Canada T3H 0J6 | 403.690.0274 | shafik.hirani@shaw.ca