CIBC Foundation
Private foundation · Toronto, Ontario · BN 119303329RR0001 · Foundations · website
Source: T3010 return, FPE 2024-10-31. Split of total expenditures ($12,450,183) as filed with the CRA.
CIBC Foundation is a private foundation based in Toronto, Ontario, classified by the CRA under foundations. In its fiscal year ending October 31, 2024, it reported $36.8M in revenue and $12.5M in expenditures.
Its funding that year was roughly 64% from donations. In 2024, 5 other registered charities reported granting it a combined $76K.
Compared with 380 grantmaking charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 97% of peers.
As a grantmaker, it reported gifts to 3 qualified donees totalling $12.5M in 2024, the largest being $11.8M to Canadian Online Giving Foundation. Revenue has grown substantially over its filings on record here, from $6.3M in 2020 to $36.8M in 2024. Its filed list of directors and trustees shows 14 names.
In its own words
The foundation's main activity is the distribution to charitable organizations of contributions received from canadian imperial bank of commerce (cibc) cibc world markets inc. And other parties not related to the foundation. Donations are made to canadian cra-registered charities including but not limited to those supporting cancer initiatives championing inclusive communities and ivesting in financial education.
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $36.8M | $12.5M | — | — | $12.5M | $99.4M |
| 2023 | $8.7M | $11.1M | — | — | $11.1M | $74.3M |
| 2022 | $18.2M | $10.8M | — | — | $10.8M | $77.6M |
| 2021 | $76.3M | $5.8M | — | — | $5.8M | $71.8M |
| 2020 | $6.3M | $6.2M | — | — | $6.2M | $1.3M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Money between charities, 2024
Granted $12.5M to 3 qualified donees:
Received $76K from 5 charities:
As reported on the donors’ own T3010 qualified-donee schedules.
Directors & trustees (2024)
Eric Belanger (director); Harry Culham (co-chair); Mida Douglas (corpoarte secretary); Robert Frentzel (director); Andrew Greenlaw (vice president); Melissa LI (director); Linda Machado (asst corporate secretary); Andrea Nalyzyty (director); John Ruffolo (external director); Ronan Ryan (executive director); David Scandiffio (director); Sandra Sharman (co-chair); Amy South (treasurer); Damian Warmer (external director).
As listed on its 2024 return.
Check the source
Every figure on this page is from CIBC Foundation’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 119303329RR0001), or read how we compute the receipt.