TD Waterhouse today announced that as the Private Giving Foundation marks its second anniversary, it has accumulated $43.5 million in committed assets, up from $17 million last year.

The strong growth has allowed the Foundation to disperse $1.6 million, according to the wishes of the donors, to a range of charitable organizations across Canada.

Charities that have received funding from the Foundation include Canada’s National Ballet School, B.C. Children’s Hospital Foundation and Ian Anderson House, a six-bed cancer hospice in Oakville, Ont. that provides compassionate end-of-life care without charge to residents in Peel and Halton Region. The Foundation has donated more than $38,000 to the hospice since its inception.

The Private Giving Foundation pools donor-advised accounts in a special class of the TD Balanced Income Fund. As a result, small investors can participate in charitable legacies that are traditionally only available for high net worth individuals. Gains made in the fund are donated to charities annually, on the recommendation of the donors.

“The charitable environment in Canada is better than ever,” said Jo-Anne Ryan, vp, philanthropic advisory services, TD Waterhouse and executive director of the Private Giving Foundation. “In a climate of high profile donations from business leaders and celebrities, and with the elimination in the last Federal budget of the capital gains tax on publicly-traded securities donated to registered charities, there is a greater impetus for innovative approaches to philanthropy like the Private Giving Foundation.”

Ryan noted other economic trends impacting the charitable environment. For example, ongoing M&A activity is creating a ‘taxable event’ for shareholders. “The tax exemption for donated securities now gives Canadians the opportunity to plan their philanthropy more strategically,” continued Ryan. “They can now support their favourite causes while significantly reducing their tax liability,”

Ushering in the Foundation’s third year of operations, Ryan welcomed Jaime Watt, chairman, Navigator Limited, and Fran Strike, vp commercial banking, TD Canada Trust, to the Private Giving Foundation Board of Directors.

“As a renowned political strategist and head of a highly regarded public affairs consulting firm, Mr. Watt brings strategic insight and a broad network of contacts to the board,” said Ryan. “We also welcome the expertise Ms. Strike will bring to the Board, specifically related to meeting the charitable giving objectives of entrepreneurs and business owners, who often look for a strategic, hands-on approach to philanthropy.”