There are a number of elements. First, the safeguards in the Canadian system.... There are a lot of restrictions on what private foundations can own, self-dealing rules. Sometimes there's a view in the charitable sector that they actually go too far, that they're limiting philanthropic contribution.
One of the factors with the disbursement quota is it can't, in many cases, be arbitrarily increased because of a conflict of laws. You end up having trust law. For example, I mentioned the foundation dating from the 1950s. Well, it was set up as an income-only structure, as opposed to using capital. So to get 8% you would have to use capital. There are complexities within the sector that perhaps prevent that.
The vast majority of modern private foundations are actually set up to go way beyond the 3.5%...huge grants of capital. I was recently involved with one that was essentially there for two years as it transitioned money and got it out into the community to wonderful charities. So you also see that extreme.