Description: Richard Ivey, a well-known Canadian philanthropist, has died. Students may recognize the Ivey name for the Ivey Business School at Western University. The Ivey Foundation has donated over $100 million to various causes since it was founded by Richard Ivey’s father – also named Richard Ivey – in 1947.

Date:  December 31, 2019

Source:  cbc.ca

Link: https://www.cbc.ca/news/canada/london/richard-macaulay-ivey-dies-at-94-1.5411382

Discussion points:

1) Are you a student at the Ivey Business School at Western? If not, do you know anyone attending that well-known school?

2) What are some of the reasons that a family might set up a foundation to distribute gifts to organizations?

3) Wiley’s Financial Accounting: Tools for Business Decision-Making, has a vignette at the start of one of its chapters about Western University. Find this vignette. What important accounting topic does it introduce?