This is the first in a series of articles that will run during February in our special report, “The Changing Face of Philanthropy in Canada.”
Canada’s more than 6,400 private foundations aren’t really all that private. In fact, they present the philanthropic faces of Canada’s wealthiest families.
The amount of money they control is considerable. Mark Blumberg, a Toronto-based lawyer and expert in charity law, says private foundations held $92 billion in assets in 2022.
The list of foundations with the largest assets reads like a who’s who of Canada’s most successful entrepreneurs. Basic financial details of each are available on the Canada Revenue Agency’s website, and many individual foundation websites detail their giving.

Carolyn Cole, founder of Cole & Associates, a family office strategy and design consultancy in Vancouver and Toronto, says families establish private foundations in part to influence others to participate and do good.
“It doesn’t preclude these families from also making private donations and anonymous donations, but it’s a very public stance demonstrating they acknowledge their privilege,” she says.
Many private foundations today are welcoming second- or third-generation family members, she adds, and this can result in changes to the causes they support. “The more recent trend has been that each new generation is empowered and enabled to figure out how to make an impact that’s meaningful to them.”
The wealth of private foundations has mushroomed in recent years, Blumberg says, as the assets held inside them have appreciated in value.
“With the increasing inequality that we see in Canada, there will continue to be calls for foundations to spend more on charitable good,” he says. What he calls the “minor” increase in 2023 in their disbursement quotas—from 3.5 per cent to 5 per cent for charities with assets over $1 million not used in charitable or administrative activities—”was only a very small tweak, and more is probably needed.”
Under CRA rules, foundations must be separate from other associated businesses or nonprofits.
“If a registered charity has a relationship with a family office or a bank or a manufacturing company, there must be adequate separation between the charity and the business to avoid confusion in the public’s mind, confusion with CRA and confusion for the staff and volunteers of the charity and the business,” Blumberg says.

Cole says family offices can help a family establish the necessary governance structure and processes for a private foundation, including who’s making donation decisions, how often donations are made, how much money to move to the foundation, and the rate and pace of distributions.
So who are the families with the largest foundations?
Blumbergs Professional Corp.’s CharityData uses CRA information to produce a filterable, searchable spreadsheet with historical context. It forms the basis for this list, albeit with some tweaking. Our Top 20 doesn’t include institutional private foundations such as Mastercard and the Green Municipal Fund. (It also uses 2023 asset stats, while CharityData was sorting by 2022 numbers at the time of publication. That means a foundation that had a sudden infusion of capital in 2023 might not be on this list.)
Here are the Top 20, which we calculated using information from CharityData, the CRA, foundation websites, third-party charity watchers and company websites.
1. Lucie and André Chagnon Foundation
- Montreal
- Founded in 2000
- Assets: $2,133,145,000 in 2023
André Chagnon died in 2022 at age 94. His wealth was derived from cable television giant Vidéotron, which he founded in 1964. The firm was acquired by Quebecor Media in 2000. That year, Chagnon, his wife and five children contributed $1.4 billion to their private foundation.
Giving in 2023: $32,133,000 to registered charities and qualified donees including Centraide du Grand Montreal, Foundation for Black Communities, Carrefour d’aide aux nouveaux arrivants and La Petite Maison sur Laprairie. Also $71,679,000 to non-qualified donees (grantees), recipients who are not registered charities but support the foundation’s charitable purpose. The foundation website highlights 2023 focuses such as student housing, a food security project and a Native friendship centre. The foundation’s mission “is to prevent poverty by helping to create conditions that will enable all young people living in Quebec to develop their full potential.”
2. Rossy Foundation
- Mount Royal, Que.
- Founded in 2004
- Assets: $1,107,459,914
Larry Rossy inherited a small chain of discount retailers and rebranded it as Dollarama in 1992. According to Forbes he sold 80 per cent of his ownership in the chain to Bain Capital in 2004, netting $500 million. In 2016, he stepped down as CEO, passing the baton to his son Neil. The company now has 1,600 stores.
Giving in 2023: $46,576,821 to registered charities and qualified donees including KBF Foundation Canada, which connects donors with international charities, Sainte-Justine Hospital Foundation, Jewish General Hospital and the University of Toronto. Among the foundation’s priorities are health research, mental health, civic engagement and the environment.
3. Fondation Mirella & Lino Saputo
- Montreal
- Founded in 1979
- Assets: $1,005,201,733
Emanuele (Lino) Saputo was born in Sicily and moved to Canada in the early 1950s. In 1969, he became president and chairman of the board of the family’s dairy and cheese company, Saputo Inc. The firm now has offices around the world and describes itself as one of the 10 biggest dairy processors in the world. It went public in 1997. Emanuele’s son Lino A. Saputo is now executive chairman of the company’s board.
Giving in 2023: $42,416,475 to registered charities and qualified donees, but names of the charities were unavailable in the CRA dataset. In 2022, the foundation gave to the Catholic church, several hospitals and Concordia University. The foundation’s website says that it supports community organizations that work with people with disabilities, the elderly and people from immigrant backgrounds.
4. Li Ka Shing (Canada) Foundation
- Toronto
- Founded in 2005
- Assets $794,686,815
Hong Kong billionaire investor Li Ka Shing, age 96, has invested for decades in Canadian businesses, particularly in the energy sector, banking and startup ventures. Li Ka Shing is the chair of the Canadian foundation, and his son Victor Li is on the board.
Giving in 2023: $23,622,237 to Shantou University in China. Also $11,527,441 to qualified donees and charities including the University of California at Berkley, Oxford University, the University of Hong Kong and University of Ottawa.
5. The Trottier Family Foundation
- Montreal
- Founded in 2000
- Assets: $723,014,011
In 1976, Lorne Trottier co-founded Matrox, a video and graphic technology firm. He bought out his partner in 2019 and remains active in the company. In addition to environmental causes, Trottier, now 76, is interested in space exploration and astrophysics and has served on the Canadian Space Advisory Board (SAB).
Giving in 2023: $24,736,700 to charities and qualified donees including the Royal Institution for the Advancement of Learning at McGill University, Fondation et Alumni de Polytechnique Montreal, the Small Change Fund, the Clean Economy Fund and the University de Montreal. The foundation focuses on the environment, mitigating climate change, science and healthcare, according to its website. The foundation also applies its values to its investing policy.
6. J.W. McConnell Family Foundation
- Montreal
- Founded in 1937, with CRA registration in 1967
- Assets: $655,611,646
John Wilson McConnell, who died in 1963, was an industrial titan of the mid-20th century, holding interests in the sugar, retail, flour milling, paper and mining industries. He also owned the Montreal Star newspaper. In 1995, the foundation board appointed its first non-family member as president. CRA records show four board members with the surname McConnell out of 14 members listed.
Giving in 2023: $26,394,172 to charities and qualified donees including the Indigenous Peoples Resilience Fund, the Salal Foundation, Environment Funders Canada, Makeway Charitable Society Toronto and the Mi’kmaw Native Friendship Centre. Also $4,863,252 to non-qualified donees. The foundation gives to environmental, Indigenous and anti-poverty causes and also uses impact investment to grow its capital in conjunction with its charitable principles.
7. Fondation Marcelle et Jean Coutu
- Montreal
- Founded in 1990
- Assets: $640,218,317
Billionaire pharmacist Jean Coutu, 98, founded the Jean Coutu chain of pharmacies in 1969. The company acquired other pharmacy chains over time. Forbes reports the firm was sold to Metro in 2017 for US$4.5 billion in cash and stock.
Giving in 2023: $27,757,767 to charities and qualified donees including Terre Sans Frontières, Fondation À Pas de Géant (devoted to education and inclusion for autistic children), Chez Doris (helping vulnerable women avoid homelessness), Fondation Mission Old Brewery and McGill University. The foundation website says it gives to help the destitute and those who are affected by illness, a handicap or a difficult social condition.
8. Ronald S. Roadburg Foundation
- Vancouver
- Founded in 2021 according to website, but 2003 according to CRA
- Assets: $590,979,968
Ronald Roadburg took over as president of Broadway Properties in Vancouver when his father, Al, died in 2001. Before his death in 2021 at 65, Roadburg and company board chair Bernard Pinsky developed a plan for the private foundation that carries his name, according to its website. The CRA filing lists Bernard Pinsky as a director of the foundation.
Giving in 2023: $10,553,165 to charities and qualified donees including St. Paul’s Foundation of Vancouver, United Israel Appeal, Jerusalem Foundation and the Jewish Federation of Greater Vancouver. The foundation’s CRA filing says it is engaging in philanthropic initiatives in the Jewish and broader communities in B.C., Canada, Israel and around the world. The foundation also has a history of giving to addiction recovery and environmental causes.
9. Hilary and Galen Weston Foundation
- Toronto
- Founded in 2019
- Assets: $572,034,596
This is one of several foundations related to the sprawling Weston family, which made its fortune in the food industry and retailing in Canada and Britain. Galen died in 2021 after a lengthy career principally with Loblaw Cos. Ltd. He also bought the Selfridges department store chain in England in 2003. Hilary Weston, 83, is a former Lieutenant Governor of Ontario.
Giving in 2023: $24,414,040 to charities and qualified donees including the Sinai Foundation, the UHN Foundation, Prince’s Trust Canada, the Order of Malta Canada and the Governors of the University of Calgary. The foundation’s goal is “to contribute to charities whose bold ideas shape a better future for everyone.”
10. Joseph Lebovic Charitable Foundation
- Aurora, Ont.
- Founded in 1977
- Assets: $525,871,521
Toronto real estate developer Joseph Lebovic died in 2021 at age 91. His Southern Ontario homebuilding business, Lebovic Enterprises, was established in 1953 and is in its third generation of family ownership.
Giving in 2023: $17,425,535 to charities and qualified donees including Weizmann Canada, Beit Halochem Canada, Canadian Friends of Bar-llan University, the UHN Foundation and the Royal Ontario Museum. Records indicate the foundation focuses on Jewish community and healthcare charities.
11. Schulich Foundation
- Toronto
- Founded in 1985
- Assets: $511,082,981
Financier, investor and mining executive Seymour Schulich, 85, applied the concept of royalties to the gold mining business. His investment and involvement in mining firms such as Franco-Nevada and Newmont are the foundation of the family fortune.
Giving in 2023: 18,502,211 to charities and qualified donees including the United Jewish Appeal, the McMichael Canadian Art Foundation, Sunnybrook Foundation and Kings-Edgehill School. The Schulich Foundation is largely associated with giving to postsecondary institutions and funding scholarship programs.
12. Joyce Family Foundation
- Burlington, Ont.
- Founded in 1995
- Assets: $499,612,191
Ron Joyce was a co-founder and first franchisee of the Tim Hortons doughnut chain in 1964. After exiting the company he invested in real estate, aviation and a golf resort. Joyce died in 2019 at age 88.
Giving in 2023: $15,978,125 to charities and qualified donees including the Hamilton Health Sciences Foundation, Alberta Children’s Hospital Foundation, CNIB, University of Ottawa Heart Institute and Canadore College Foundation. The foundation’s purpose, according to its CRA filing, is to support the “social, economic and emotional well-being of children and youth.”
13. FDC Foundation
- Mississauga, Ont.
- Founded in 2000
- Assets: $468,214,519
Billionaire Carlo Fidani is chairman of Orlando Corp., which bills itself as “Canada’s largest privately owned industrial real estate developer and landlord.” The company was established by Fidani’s grandfather in 1948, and Fidani became chairman in 2000 when his father died.
Giving in 2023: $11,821,985 to charities and qualified donees including the Northern Ontario School of Medicine, Sick Kids Foundation, William Osler Health System Foundation and the Women’s College Hospital Foundation. The foundation focuses on hospitals, specialized healthcare centres and universities.
14. Weston Family Foundation
- Toronto
- Founded in 1987
- Assets: 424,336,765
This is another foundation of the grocery and retail Weston family. Galen G. Weston, the 52-year-old family member most associated in Canadians’ minds with Loblaws grocery stores, is on the board of this foundation.
Giving in 2023: $61,800,048 to charities and qualified donees including the Nature Conservancy of Canada, the Governors of the University of Calgary, the University of British Columbia and Sunnybrook Health Sciences Centre. The foundation donates to education, conservation, neuroscience research and research in Canada’s north.
15. River Philip Foundation
- Oxford, N.S.
- Founded in 2005
- Assets: $388,978,469
In 1968, John Louis Bragg, now age 84, founded Oxford Frozen Foods Ltd., renowned for its wild blueberries. In 1970, he diversified into telecommunications with Bragg Communications, which grew into the cable company Eastlink.
Giving in 2023: $15,989,031 to charities and qualified donees including Mount Allison University, Oxford Community Centre Association, Cape Breton University and Dalhousie University. The foundation also supports quality of life in rural communities, primarily in Atlantic Canada, as well as education, at-risk youth, the performing arts and community-based facilities.
16. Audain Foundation
- Vancouver
- Founded in 1997
- Assets: 383,659,033
Homebuilder Michael Audain, 87, became a partner in Polygon Properties in Vancouver in 1980 after a career as a housing policy specialist for the provincial and federal governments. Audain and his wife Yoshiko Karasawa established the Audain Art Museum in 2016 in Whistler, B.C.
Giving in 2023: $13,281,107 to charities and qualified donees including the Vancouver Art Gallery, the Audain Family Art Museum Foundation, Arts Umbrella Association and the Audain Art Museum. The foundation supports the visual arts in B.C., promotion of the work of Canadian artist Jean Paul Riopelle, and wildlife conservation.
17. Wilson 5 Foundation
- Vancouver
- Founded in 2012
- $351,984,197 assets
Billionaire Chip Wilson, 69, is best known as the man behind athleisure giant Lululemon. He and wife Summer have five sons. Forbes reports the family’s company Hold It All Inc. invests in apparel, real estate and private equity.
Giving in 2023: $1,800,818 to charities and qualified donees including the Loon Foundation, FSHD Foundation and the Whistler Film Festival. CharityData indicates the amount given by the foundation varies considerably from year to year. In 2022, the foundation gave close to $55 million, with $50 million of that going to the BC Parks Foundation.
18. Larry and Judy Tanenbaum Family Foundation
- Toronto
- Founded in 1985
- Assets: $344,287,158
The Tanenbaum family has a history in iron and steel. Larry, 79, now helms Kilmer Group, a holding company with diversified interests from construction to real estate, media and sports. He is also chairman of Maple Leaf Sports & Entertainment, which owns the Toronto Maple Leafs and the Raptors.
Giving in 2023: $7,306,361 to charities and qualified donees including the University of Toronto, McGill University Neurological Institute and the Sinai Health Foundation. The foundation says it is committed to building healthier, smarter and stronger communities in Canada and Israel.
19. Temerty Foundation
- Toronto
- Founded in 1997
- Assets: $348,549,832
James Temerty, 83, came to Canada from Ukraine in 1950. In 1987, he founded Northland Power, an independent power company that focuses on renewable resource power generation.
Giving in 2023: $55,455,198 to charities and qualified donees including Ivan Franko Homes (a Ukrainian seniors charity in Mississauga, Ont.), the Northern Ontario School of Medicine, the Ontario Water Centre and the Metropolitan Andrey Sheptytsky Institute Foundation. The foundation supports the Ukrainian community, healthcare and the arts. In 2020, the foundation donated $240 million to the University of Toronto.
20. Pathy Family Foundation
- Montreal
- Founded in 2009
- Assets: $326,336,428
The Pathy family made its money in dry bulk ocean shipping. Laurence Pathy served for decades at the helm of shipping giant Fednav and was a business partner of Paul Martin’s. Laurence’s son Paul is now CEO of Fednav. Son Mark garnered headlines in 2021 for paying to be a mission specialist aboard a SpaceX civilian flight to the international space station.
Giving in 2023: $16,151,092 to charities and qualified donees including the Seamont Foundation, Children International Canada, Tostan (which supports communities in Western Africa), Alloprof and the Martin Family Initiative. The charity’s website says it invests in people and organizations that empower marginalized groups.
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