Ontario Charities: Accessing Restricted Funds During The COVID-19 Pandemic

The Ontario Public Guardian and Trustee (PGT) developed temporary guidelines (the PGT Guidelines) to assist Ontario charities that are impacted by the economic consequences of the COVID-19 pandemic. The PGT Guidelines, which apply to charities in Ontario that are in danger of closing, allow eligible charities to access the income and capital of restricted purpose trust funds for operating expenses. The PGT Guidelines defer the requirement to obtain a court order under section 13 of the Charities Accounting Act (Ontario) until after the pandemic has ended.

For purposes of the PGT Guidelines, restricted purpose trust funds include the income and capital of perpetual endowment funds, as well as the income and capital of trust funds held for a restricted charitable purpose (the funds).