Parallel Foundations
Almost every Canadian hospital has a “parallel” public foundation. These entities are registered charities that raise money on behalf of the hospital and hold investments, especially perpetual endowments. While parallel foundations may have started at hospitals, they are now a fixture of the charitable landscape. There are foundations for international charities, universities and schools, art galleries and museums, social service agencies, professional associations, and religious organizations. They have become so common that few people know why they exist. There is just this vague sense that a “foundation” is the necessary pre-condition for successful fundraising.