Other Ways to Give
The following gift options are some other ways you can make donations to the Foundation.
Gifts of securities: One of the most tax efficient ways of giving, publicly listed securities donated to registered charities are not subject to ANY capital gains tax. You will also receive a tax receipt for the Fair Market Value of the shares.
Bequests: A gift in your will is a tax-smart way of leaving a legacy in your community. You can choose to leave a specific amount, a percentage or the residue of your estate, or other assets such as property, securities, or RSPs. You can also choose to make your gift in a specific area, or leave it to us to apply to our area of greatest need. Bequests will reduce the taxes your estate will have to pay. We can send you information about planned giving and a sample bequest clause to take to your lawyer or notary.
Gifts in Kind: Tired of that Picasso hanging in your living room? Perhaps you no longer have need for your vacation home in Whistler… the Whitecaps Foundation is pleased to accept your gift of jewellery, art or real property, provided that Fair Market Value can be readily obtained.Please note that services are not considered gifts in kind by the Canada Revenue Agency. Please contact us to discuss a gift of service.
Gifts of Life Insurance: If you donate a life insurance policy to the Whitecaps Foundation, you get a tax credit for the annual premiums. Making the Whitecaps Foundation the beneficiary of a life insurance policy can significantly reduce the taxes your estate may owe. In either case, you can designate the insurance policy proceeds to the area or project of your choice.
Charitable Remainder Trusts: A charitable remainder trust enables you to do three things: leave a planned gift, realize tax benefits from that gift, and play a role in determining how that gift will be utilized. By entering into a charitable remainder trust, you can make a significant deferred gift to the Whitecaps Foundation. The actual gift – or capital – will be legally promised to the Whitecaps Foundation upon your passing, but you will receive the income earned by the capital during your lifetime. You will also immediately receive a tax receipt for the value of your gift, which can be applied toward current and future income.
RRSPs and RRIFs: Naming the Whitecaps Foundation as a beneficiary of your RRSPs and RRIFs means all or a portion of these assets can now be left directly to the Whitecaps Foundation upon your death without having to pass through your estate. This arrangement means that no probate fees are payable on these assets. In most cases, the taxes owing on your donated RRSPs or RRIFs at death are offset by the charitable tax credits generated by your donation. Donations of this type are a great way to reduce the substantial deferred tax burden that many RRSP and RRIF plans carry.
