How Giving Through The Altruly Foundation Works

This page explains, in plain language, how donations and accounts work at The Altruly Foundation. It is provided to help donors understand the process. The legally binding terms are set out in the Account Agreement.

The Short Version

  • When you donate through Altruly, you are donating directly to The Altruly Foundation, a registered Canadian charity.
  • Your donation is irrevocable and becomes the Foundation’s property.
  • You may recommend how funds are granted, but the Foundation always has the final say.
  • All donations are unrestricted and used only to further the Foundation’s charitable purposes.

Who Is The Altruly Foundation?

The Altruly Foundation is a Canadian registered charity (CRA Registration ID: 755780095RR0001). It owns and operates the Altruly platform and is responsible for all charitable decisions made through it.

What Happens When You Donate?

When you make a donation:

  1. Your donation is received by the Foundation.
  2. The donation is recorded in an Altruly Account associated with you.
  3. The Foundation issues an official donation receipt, if eligible under Canadian tax law.

Once a donation is made, it cannot be refunded or withdrawn.

Are My Donations Restricted?

No. All donations to The Altruly Foundation are unrestricted gifts.

This means:

  • The Foundation has full legal control over donated funds.
  • Funds must be used only for charitable purposes.
  • The Foundation decides how and when funds are distributed, in accordance with the law.

This structure is required under Canadian charity law.

Can I Suggest Where the Funds Go?

Yes. You may make non-binding recommendations about which qualified charities you would like the Foundation to support.

However:

  • Recommendations are advisory only.
  • The Foundation must independently approve every grant.
  • Some recommendations may not be possible due to legal, regulatory, or operational reasons.

This ensures compliance with CRA rules and protects the charitable status of the Foundation.

What Is an Altruly Account?

An Altruly Account is a record-keeping account that tracks:

  • Donations you have made
  • Grants that have been issued
  • Transfers between accounts (if applicable)

An Altruly Account is not a personal bank account, trust, or investment account.

Who Controls the Funds?

The Foundation always retains final authority over:

  • How funds are invested or held
  • Whether and when grants are made
  • Which organizations qualify as recipients

Neither donors nor advisors can direct or control funds.

What Happens If My Account Is Closed?

If your Altruly Account is closed for any reason, any remaining balance will be distributed by the Foundation to one or more qualified charities, in accordance with its charitable purposes.

Transparency and Accountability

The Foundation:

  • Keeps detailed internal records of donations and grants
  • Operates in accordance with Canadian charity law
  • Is accountable to the Canada Revenue Agency

Need the Legal Details?

This guide is meant to be helpful, not legalistic. The full legal terms governing accounts and donations are set out in the Account Agreement, which always takes precedence.

If you have questions, we encourage you to contact the Foundation before donating.