ABOUT THE DEFINITY INSURANCE FOUNDATION
The Definity Insurance Foundation is a Canadian registered charity, financed with $100 million of the proceeds of the demutualization of the Economical Mutual Insurance Company to represent past and present policyholders and employees. The Foundation has been entrusted with designing and supporting community initiatives that reduce the effects of social and economic inequality, increase the health and well-being of marginalized people, and slow the speed of climate change.
The legal objects of the Foundation are limited to the following: To receive and maintain a fund or funds and to provide all or part of the principal and income therefrom, from time to time, to qualified donees as defined in subsection 149.1(1) of the Income Tax Act (Canada).
This object allows the Foundation to fund any Canadian registered charity or qualified donee, but not to conduct its own charitable programs.