Lifting Living Standards One Donation at a Time Report on Giving 2017

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E s e s s u e q n i t t i i l a o l p P s ol le i r cy u I s n es tel bl lig nsa ence spe | Conseils indi You are a part of a special community: your ideas, encouragement and donations underpin the C.D. Howe Institute’s research, events, and communications. We are profoundly grateful for your support, and determined to use it to make Canada even more successful in the future. 2017 C.D. Howe Institute Report on Giving

Leadership Message

Scan the globe, and the importance of good public We at the C.D. Howe Institute deeply appreciate policy to countries and the wellbeing of their people the intellectual and financial support that makes this stands out. work possible. We thank the outstanding network Some governments tax wisely and invest effectively of academics and thought leaders who write for us, in education, public health, and public infrastructure. review our work, and ensure that the quality of our Some countries have laws and regulations that are research program is second to none. And we thank predictable and fair. In some places, individuals and the members and donors who believe in the power businesses can work, save, invest and trade based on of informed discussion to move Canada forward, and their own judgements about wants and needs. Those lend their support to the cause. are places where people prosper. You are a part of a special community: your ideas, In less favoured countries – where taxes are encouragement and donations underpin the C.D. destructively high, programs are ineffective, rules Howe Institute’s research, events, and communications. are arbitrary, and governments restrict and distort We are profoundly grateful for your support, and private-sector decisions – people cannot realize their determined to use it to make Canada even more ambitions, and will leave if they can. successful in the future. The C.D. Howe Institute’s mission is to ensure that Canada is in the former, favoured group – that Canadians can prosper and look forward with William B.P Robson Duncan T. Munn optimism. The Institute’s fact-based analysis, policy President and CEO Senior Vice-President and commentary and discussion of pressing issues Chief Operating Officer provide business leaders, professionals, the academic community and policymakers with authoritative research and a vehicle for informed debate.

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Your Philanthropic Dollars at Work in 2017

#1 Think Tank in Canada The C.D. Howe Institute has won more research awards than any Canadian think tank including over a quarter of all Purvis Prizes, the highest honour in Canadian economic policy writing.

| Essential Output | 69 92 high-quality exclusive, off- research and the-record policy council reports1 events

1 Projected totals for 2017

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| Stimulating Debate |

digital, print and broadcast citations in Canadian media2

social media citations

citations in The Globe and Mail and the National Post, more than any other think tank

interviews op-eds policy outreach presentations

2 All media data as of September 30, 2017

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2017 Major Gifts and Grants

As a charity, private support makes the C.D. Howe Institute’s work possible. People are often surprised by our modest resources. We have only one office, and about 30 staff. We have no eight-figure endowments or major, multi-year government grants. All donations are purely philanthropic – the Institute does not accept any donations that stipulate a predetermined result or otherwise inhibit the independence of its staff and authors. Targeted major gifts and event sponsorships enable supporters to bolster the Institute’s research and dissemination capacities in specific areas of interest. They complement the annual membership campaign, strengthening the Institute and enabling it to recruit scholars and support programs that enhance its ability to develop innovative solutions to policy challenges. We gratefully acknowledge the following donors and sponsors:

| Major Gifts from Individuals | James C. Baillie Hélène Desmarais Richard Howson (The Thomas E. Kierans Scott Burns Wendy Dobson Petman Foundation) Shawn Porter Peter Bethlenfalvy Paul Fletcher David H. Laidley (The David Powell Jack Cockwell Four Halls David H. Laidley Don Reimer John Crow Blake Goldring Foundation) Summerhill Capital Ed Clark (Clark Family Malcolm P. Hamilton Tom Jenkins Management Foundation) G.R. Heffernan Donald K. Johnson Craig C. Thorburn Malkin Dare John and Rebecca Brian and Colleen Douglas Turnbull DBRS Horwood Johnston Leo De Bever

| Major Grants from Organizations | AIMCo Canada Pension Plan Lotte and John Hecht Teachers’ Amgen Canada Investment Board Memorial Foundation Pension Plan Atco Group Canadian Chamber of Insurance Bureau of Power Corporation Aurea Foundation Commerce Canada PSP Investments Bell Canada Conference for Hal Jackman Public Health Agency of BIOTECanada Advanced Life Foundation Canada British Columbia Underwriting Johnson & Johnson Inc. The W. Garfield Weston Investment Crabtree Foundation Canada Foundation Management John Dobson Mattamy Homes The Wilson Foundation Corporation Foundation Max Bell Foundation Caisse de dépôt et Donner Canadian OMERS placement du Québec Foundation

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Special Thanks

“The C.D. Howe Institute’s research and events provide top- quality input to policymakers and an important venue for non- partisan policy development. We hope this gift inspires others to support the Institute and its award-winning research.”

– Rudyard Griffiths, President of the Aurea Charitable Foundation

AUREA Foundation

$675,000 Gift over Three Years for Communications and Outreach

Peter and Melanie Munk Co-Founders, The Peter and Melanie Munk Charitable Foundation

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Special Thanks

$150,000 Gift $100,000 Gift $400,000 Gift over Three Years over Two Years in 2012

Mattamy Homes / Brian Scott Burns, Chairman & Wendy Dobson, Professor, and Colleen Johnston CEO, BURNCO Group Rotman School of of Companies Management and Co-director of the Rotman Institute for International Business

$125,000 Gift $100,000 gift over Five Years over Five Years

Richard Howson, President, Don Johnston, Member, The Petman Foundation Advisory Board, BMO Capital Markets

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Top: Guests at a Patrons’ Circle Dinner Below left: Hon. Michael Wilson Right: Alfred G. Wirth

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Sponsorships

| Dinner Sponsors |

Your lawyer. Your law rm. Your business advisor.

| Conference Sponsors |

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Sponsorships | Conference Sponsors (cont’d) |

HOME TRUST

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| Roundtable Luncheon & Special Event Sponsors |

| Student Table Sponsors |

10 2017 C.D. Howe Institute Report on Giving Members and Guests

Top: Guests at a Calgary Roundtable; Below, clockwise from right: Monique Jérôme-Forget; David Naylor with Bill Robson; ; Hugh MacKinnon and Elyse Allan

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The Institute’s Supporters

Your donations enable the Institute to respond quickly and authoritatively to issues that are defining Canada’s future – and by so doing, to improve the economic and social well-being of all Canadians.

Kevin Ellison Robert Kaplan G.L. Reuber Individuals Don Ezra Marcel Kasumovich Robert F. Richards Babak Abbaszadeh Will Falk John A. Kazanjian Margot Ritchie Omar Abdulhadi John Farrow Claire M.C. Kennedy William B.P. Robson Lalit Aggarwal David Fleck Jan Kestle Del Rollo Dalton Albrecht James D. Fleck Thomas E. Kierans W.P. Rosenfeld, Q.C. Keith Ambachtsheer Paul Fletcher Paul Kirkconnell Guylaine Saucier James E. Arnett, Q.C., of Briar Foster Anthony Lacavera Gerald Schwartz Counsel Chris Foster Michael Landry Christophe Sepulchre James C. Baillie Robert Gold Spencer Lanthier Ziv Shnitzer Bruce Barker Peter Goring David LeGresley Helen K. Sinclair Donald Bennett Rob Graham, BA, MBA, David A. Leslie Geoff Smith George Bezaire ICD.D Henry Lotin Paul G. Smith William Black John A.G. Grant Jeffrey Lozon Andrew Spence David E. Bond Barry Gros J.W. (Wes) MacAleer Paul R. Stanley Blair Botsford Douglas Grundy Kevin MacKinnon Garence Staraci Bruce Browser Geoffrey Hale Sabi Marwah Wayne Steadman Robert Buttke Mary and Graham R.B. (Biff) Matthews Daniel Sullivan Peter Buzzi Hallward Gerald McCaughey Catherine Swift Justin Caldwell Malcolm Hamilton James P. McIlroy Thomas H.B. Symons Robert C. Caldwell Raza Hasan John D. McNeil Richard Tattersall, Paul Cantor Chad Hauser Mark McQueen Heathbridge Capital Edward A. Carmichael Timothy J. Hearn Jack Mintz Management Brian Carter Ali Hedayat Bruce H. Mitchell John D. Tennant Edmund Clark G.R. Heffernan William Molson, CA Simon Thang Jack Cockwell Garrett Herman Gary P. Mooney The Petman Foundation Marshall A. Cohen Lawrence Herman Robert Morrison John M. Thompson Sherry Cooper Jim Hinds Edward P. Neufeld Craig C. Thorburn David Copeland Tim Hodgson Angelo Nikolakakis Tom Trimble Will Cornelissen Igal Holtzer Raoul Nsabimana Annette Verschuren Adolfo Cotter Michael Horgan Joe Nunes Warren Viegas Bryan and Malkin Dare Rebecca Horwood David Oblender Wei Wang David F. Denison Paula Hughes Nick Pantaleo, FCPA, FCA John Wilkinson Hélène Desmarais H. Douglas Hunder Steve Parker Alfred G. Wirth Wendy Dobson Julien Hutchinson Dani Peters David Wishart David Dodge Richard W. Ivey Paul Pryce Tom Woods Rupert Duchesne Tom Jenkins Donald S. Reimer Robert Dunlop Jon R. Johnson Kelly Reimer

12 2017 C.D. Howe Institute Report on Giving Members and Guests

Top: Guests at a Benefactors’ Dinner; Below, clockwise from right: Paul Rochon; Dominic Barton, the Hon. Colonel Douglas Mitchell and Her Honourable Lois Mitchell; Adel Melek and David Dodge

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The Institute’s Supporters

Blake Cassels & Graydon Canadian Home Builders’ Edco Financial Holdings Post Secondary LLP Association Ltd. Carleton University BMO Financial Group Canadian Imperial Bank of E-L Financial Corporation DeGroote School of Bombardier Inc. Commerce Limited Business Borden Ladner Gervais Canadian Institute for EllisDon Inc. HEC Montréal LLP Health Information Enbridge McMaster University Brookfield Asset Canadian Investor EnCana Corporation Northeastern University Management Inc. Relations Institute Ensign Energy Services Inc. Queen’s University Brookfield BRP Canada Canadian Life and Health EPCOR The University of Western Corp Insurance Association Equitable Bank Ontario Burgundy Asset Inc. Export Development University of Alberta Management Canadian National Canada University of British BURNCO Group of Institute for the Blind Fednav Limited Columbia Companies (CNIB) Fidelity Investments University of Calgary Business Council of British Canadian Tax Foundation Finance Montréal University of Manitoba Columbia Canadian Trucking Alliance First National Financial LP University of Toronto Business Council of Canadian Western Bank Ford Motor Company of Wilfrid Laurier University Canada Canadian Wireless Canada, Limited Business Development Telecommunications Forest Products Bank of Canada Association Association of Canada Corporate, C.S.T. Consultants Inc. Canadians for Clean Four Halls Inc. Associations and Cadillac Fairview Corp. Ltd. Prosperity GE Canada Caisse de dépôt et Candor Investments Ltd. Genworth Financial Foundations placement du Québec Capital One Canada 3M Canada Calgary Chamber of Capital Power Corporation Google Canada Inc. Abbott Laboratories Ltd. Commerce Capitalize for Kids Gordon J. Homer Advisory Accenture Calgary Real Estate Board CareerEdge Services Advocis Canada Deposit Insurance Cargill Limited Gowling Lafleur AGF Management Limited Corporation Cenovus Energy Inc. Henderson LLP Agnico-Eagle Mines Ltd. Canada Guaranty Chemistry Industry Grant Thornton LLP Aimia Canada Overseas Association of Canada Greater Saskatoon Aird & Berlis LLP Investments Limited Cirque du Soleil Chamber of Commerce Altus Group Canadian Association of Clairvest Group Inc. Greater Toronto Airports Amgen Canada Inc. Petroleum Producers CN Authority AMJ Campbell Canadian Automobile Cogeco Communications Green Shield Canada Appraisal Institute of Dealers Association Inc. GWN Capital Management Canada Canadian Bankers Concentra Bank Ltd. ARC Financial Corp. Association CPA Canada Harvard Developments Association of Canadian Canadian Blood Services Cumberland Private Inc., A Hill Company Pension Management Canadian Credit Union Wealth Management Hatch Assuris Association Deloitte Healthcare Supply Chain ATB Financial Canadian Electricity Desjardins Group Network ATCO Ltd. & Canadian Association Devon Canada HealthPRO Canada Utilities Limited Canadian Energy Pipeline Corporation Hill & Knowlton Barrick Gold Corporation Association Dominion Bond Rating Home Trust Company Bayer Inc. Canadian Finance & Service (DBRS) Hugessen Consulting Bell Canada Leasing Association Donner Canadian Bennett Jones LLP Canadian Gas Association Foundation Human Resources Berkeley Payment Canadian Generic E.I. du Pont Canada Professionals Association Solutions Pharmaceutical Company (HRPA) BlackRock Asset Association eBay Canada Hydro One Inc. Management Economap Inc. ICICI Bank Canada

14 2017 C.D. Howe Institute Report on Giving Members and Guests

Top: Guests at a Toronto Roundtable; Below, clockwise from right: Duncan Munn and Lawrence Herman; Natasha Apollonova and Benjamin Dachis; The Hon. Charles Sousa

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The Institute’s Supporters

Corporate, Associations and Foundations (cont’d)

Imperial Oil Limited Miller Thomson LLP Power Corporation of The Arthritis Society Independent Electricity MITACS Canada The Canadian Council System Operator Morgan Meighen & Progress Energy Canada for Public-Private Insurance Bureau of Associates Ltd. Partnerships Canada Morneau Shepell Promontory Financial The Conference Intact Financial National Association of Group Canada for Advanced Life Corporation Career Colleges Property and Casualty Underwriting Intuit National Bank of Canada Insurance Compensation The Great-West Life Investment Industry NAV CANADA Public Sector Pension Assurance Company, Association of Canada Normandin Beaudry Investment Board London Life Insurance Investment Industry Northland Wealth PwC Canada LLP Company and Canada Regulatory Organization Management Randstad Life of Canada Oak Hill Financial RBC The Guarantee Company Investors Group OFX Repsol Oil & Gas Canada of North America J.P. Morgan Securities OMERS Inc. The Investment Funds Canada Inc. Ontario Construction Residential and Civil Institute of Canada Jackman Foundation Secretariat Construction Alliance of TMX Group Inc. Johnson & Johnson Inc. Ontario Long Term Care Ontario Toronto Financial Services Canada Association Rogers Communications Alliance Kewit Corp Ontario Power Generation Inc. Toronto Financial Services Kinross Gold Corporation Inc. Saint Elizabeth Health Alliance KPMG LLP Ontario Real Estate Care Toronto Region Board of Lifelabs Association Sandoz Canada Inc. Trade Maclab Enterprises Ontario Teachers’ Pension Scotiabank Torys LLP Magris Resources Inc. Plan Shell Canada Limited Transat A.T. Inc. Manulife Financial Ontario Trillium Sionna Investment Union Gas Limited Mastercard Canada Foundation Managers Via Rail Canada Inc. Matco Investments Ltd. OPTrust SNC Lavalin Group Inc. Visa Canada Mattamy Homes Osler, Hoskin & Harcourt SpencerStuart Weston Forest Products Max Bell Foundation LLP Statoil Canada Ltd. Inc. McCain Foods Limited Parkland Fuel Corporation Summa Strategies Canada Willis Towers Watson PLC McCarthy Tétrault LLP Payments Canada Inc MD Physican Services Persis Holdings Ltd Summerhill Capital Medavie EMS Pfizer Canada Inc. Management Medcan Health Pirie Foundation Sun Life Financial Inc. Management Inc Polytechnics Canada TD Bank Group Medisys Health Group Potash Corporation of Teck Resources Limited Mercer Saskatchewan Inc. TekSavvy Solutions Inc. Metrolinx Telpay

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Top: Guests at a Montreal Roundtable; Below, clockwise from right: Kevan Cowan; Blake Goldring with guests; Maureen Jensen; Stephen Orsini and Tiff Macklem

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Council Members

The C.D. Howe Institute’s policy work is shaped and strengthened by the members of its policy councils. Recruited from universities, the public service, crown corporations and business, council members play a vital role in generating support and ideas for specific policy areas. We thank the following individuals for their participation in the Institute’s policy councils.

NATIONAL PENSION POLICY INTERNATIONAL COUNCIL COUNCIL ECONOMIC POLICY COUNCIL

Chair Chair Chair David Dodge Claude Lamoureux The Hon. Michael Wilson

Members Members Members Steve Ambler Keith Ambachtsheer Lisa Baiton Anita Anand Leah Anderson Milos Barutciski Åke Blomqvist Bob Baldwin David Bradley Tom Closson Randy Bauslaugh Pablo Breard Marshall Cohen René Beaudry Dan Ciuriak Sherry Cooper Steve Bonnar John Curtis Leo de Bever Peter Bowen Riyaz Dattu David Denison Kathryn Bush Gitane De Silva Wendy Dobson Scott Clausen Wendy Dobson Rupert Duchesne Paulo Salomao Rick Ekstein Janet Ecker David Dodge Allan Gotlieb Rick Ekstein Barry Gros Peter Hall Jock Finlayson Malcolm Hamilton Lawrence Herman Timothy Hearn Michel Leduc Ross Hornby Lawrence Herman Kashif Malik Caroline Hughes Lawson Hunter Eric Mansour Jim Keon Sriram Iyer Chris Morley Pierre Pyun Henry Jackman Leah Myers Timothy Sargent David Johnson Hugh O’Reilly Victor Severino Thorsten Koeppl James Pesando Andrea Stairs Nicholas Le Pan James Pierlot Daniel Trefler John McNeil Thomas Reid Claudia Verno Gary Mooney Rob Ritchie Lorna Wright Edward Neufeld Tammy Schirle Jeffrey Orr Allan Shapira Hari Panday Noeline Simon John Richards Kevin Uebelein Guy Savard Guy Legault Gino Scapillati Barbara Zvan Kim Shannon Ray Sharma Kathleen Taylor Gordon Thiessen Craig Thorburn Susan Wolburgh Jenah

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Council Members

FINANCIAL SERVICES FISCAL AND TAX ENERGY POLICY RESEARCH INITIATIVE COMPETITIVENESS COUNCIL COUNCIL

Chair Chair Chair Nicholas Le Pan Michael Horgan Elyse Allan

Members Members Members Zahir Antia Albert Baker Richard Anderson John Armstrong Richard Bird Steve Baker Peter Bethlenfalvy Michal Burdzy Jürgen Beier Paul Bourque Ben Brunnen Mark Cameron Peter Bowen Marlene Cepparo David Collyer Andrew Brands Bev Dahlby Joseph Doucet Terry Campbell Ross Hagemeister Timothy Egan Frank Chong Gabriel Hayos Jim Ellis Gérald Cossette Joffre Hotz Bob Espey John Crean J. Rhys Kesselman Alexander Fritsche David D’Amour Brian Kingston Paul Fulton Pascal Dessureault George McAllister Jeff Gaulin Christopher Donnelly Kevin Milligan Peter Gregg Martha Durdin William Molson Goldy Hyder Janet Ecker Luc Monty Rich Kruger Don Forgeron Angelo Nikolakakis Stuart Lee Stephen Frank Michael O’Connor Richard Legault Blake Goldring Nick Pantaleo Ron Loborec Peter Hall Jocelin Paradis The Hon. Sergio Marchi Gail Harding David Podruzny Louise Métivier Raza Hasan Noeline Simon Mayo Schmidt Philip Howell Michael Smart Blake Shaffer Sheryl Kennedy Ted Tomkowiak Grant Sprague Thorsten Koeppl Thomas Wilson David Taylor Andrew Kriegler Brian Vaasjo David Laidler Coleen Volk Peter Levitt David Longworth Winsor Macdonell James MacGee Monica Masciantonio Howie Millard Millan Mulraine Edward Neufeld Greg Pollock Kevin Regan Kurt Reiman Jennifer Reynolds Jennifer Sloan Rob Stewart Robert Vokes David Wai Craig Wright

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Council Members

HEALTH POLICY HUMAN CAPITAL COUNCIL POLICY COUNCIL

Co-Chairs Co-Chairs Tom Closson Kathleen Taylor Dr. Brian Postl Neil Yeates

Members Members Richard Alvarez Alejandro Adem Andrea Anonychuk Serge Buy Lesia Babiak Janet Ecker Norma Beauchamp Ross Finnie Dr. Bob Bell William Greenhalgh Åke Blomqvist Claudia Hepburn Steve Bradie Shelly Lowe Candace Chartier Louise Levonian William Chartnetski Sheldon Levy Denise Cloutier Kevin Milligan Janet Davidson Colleen Moorehead David Dodge Nobina Robinson Will Falk Tammy Schirle Susan Fitzpatrick Susan Scotti Stephen Frank Munir Sheikh Neil Fraser Lara Speirs Kim Furlong Heather Stockton Michael Green Joy Thomas Fred Horne Claudia Thompson Nicholas Kadysh Stephen Liptrap Alok Kanti Harvey Weingarten Jim Keon Jay Yakabowich Guy Legault David O’Toole Christian Ouellet Sue Paish Matt Pepe Ray Pisani John Rafferty Erik Sande Marcel Saulnier Shirlee Sharkey Dr. Graham Sher Naseem Somani Cynthia Valaitis Dr. David Walker Janet Yale Dr. Jennifer Zelmer

JoAnne Butler

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Council Members

COMPETITION MONETARY POLICY BUSINESS CYCLE POLICY COUNCIL COUNCIL COUNCIL

Co-Chairs Chair Chair Ben Dachis William B.P. Robson Steven Ambler Adam F. Fanaki

Members Members Members George N. Addy Steven Ambler Paul Beaudry Marcel Boyer Beata Caranci Edward A. Carmichael Timothy Brennan Edward A. Carmichael Philip Cross Neil Campbell Michael B. Devereux Stephen Gordon Jeffrey R. Church Thorsten Koeppl Eric Lascelles Renée Duplantis Stéfane Marion Stéfane Marion Brian Facey Angelo Melino Angelo Melino Peter Glossop Douglas Porter Angela Redish Calvin S. Goldman Nicholas Rowe Lawson A. Hunter Avery Shenfeld Susan M. Hutton Pierre Siklos Edward Iacobucci Craig Wright Madeleine Renaud Marshall Rothstein Margaret F. Sanderson Konrad von Finckenstein Omar Wakil Roger Ware Howard I. Wetston Lawrence J. White Ralph A. Winter

Guests at a Calgary Roundtable Institut C.D. HOWE Institute

About the Institute

The C.D. Howe Institute is a registered charity, and an independent not-for-profit research institute whose mission is to raise living standards by fostering economically sound public policies. Widely considered to be Canada’s most influential think tank, the Institute is a trusted source of essential policy intelligence, distinguished by research that is nonpartisan, evidence-based and subject to definitive expert review.

C.D Howe Institute 67 Yonge Street Toronto, Ontario M5E 1J8 www.cdhowe.org