A planned gift is the act of making a commitment to give a charitable organization a major gift over time or at death. It is part of a donor’s overall financial and estate planning and if an organization knows they are a recipient of a planned gift, it enables the organization to plan for future growth.
Your support through a planned gift helps JF&CS plan and prepare for the future welfare of our community – our future.
There are numerous ways in which you can make a gift, many of which have significantly positive tax implications.
Gifts of Publicly Traded Securities
The Jewish Family and Child Foundation accept gifts of publicly traded securities in the form of stocks, bonds, bills and mutual funds. By donating securities, you do not pay a capital gain thus resulting in a lower tax cost than selling the securities and then donating the cash.
Charitable Gift Annuities
A charitable gift annuity is a contract between a donor and The Jewish Family and Child Foundation in which the donor transfers property, such as cash or securities in exchange for its lifetime income.
Gifts of Life Insurance
You can designate The Jewish Family and Child Foundation as a beneficiary on a new or existing policy, or transfer the ownership of your policy to The Jewish Family and Child Foundation directly with a pledge to pay the premiums each year. When you designate The Jewish Family and Child Foundation as beneficiary your estate benefits from a tax deduction in the year of death, and/or the year preceding.
Alternatively if you transfer your policy and name The Jewish Family and Child Foundation as the policy holder, you may receive tax credits annually on the premiums paid. You can also change your current life insurance policy to allow for The Jewish Family and Child Foundation to be a primary, jointly shared, or contingent beneficiary.
Gifts of Pension Assets
Retirement funds (RRSP’s, RRIF’s or Canada Pension assets) can make an excellent charitable gift, as the tax credit will normally offset the tax on the distribution. You will avoid probate fees and withholding taxes, and allows the gift to bypass the estate and go directly to The Jewish Family and Child Foundation.
If you are considering a future gift to The Jewish Family and Child Foundation but would like to receive the tax benefits today, a charitable trust arrangement may be the appropriate gift. Establishing a remainder trust or a gift of residual interest can ensure income from or continued entitlement to the use of a property during your lifetime while providing immediate tax relief. The following are two options of charitable trust arrangements:
1. Charitable Remainder Trust
With a donation funded from, for example, cash, securities or real estate, you may create a charitable remainder trust by transferring an asset to a trust. You will receive the income generated by the trust for life or a term of years, while The Jewish Family and Child Foundation will receive the “remainder” interest of the trust in the future.
2. Charitable Residual Interest Trust
A gift of residual interest allows you to donate an asset (such as your home, a work of art or other, similar property of value) to The Jewish Family and Child Foundation but retain the right to use the property during your lifetime, or the lifetime of a family member.
Donations of remainder and residual interest are both irrevocable gifts and, therefore, are eligible for an immediate tax receipt based on the present value of the property and other factors.
A charitable bequest, naming The Jewish Family and Child Foundation in your will, is one of the simplest ways to create a legacy of support for JF&CS. The Jewish Family and Child Foundation issues a tax receipt for the amount of your gift that can be claimed against 100% of your income in the year of death.
Interested in leaving a gift?
For more information, contact Brenda Gurvey | Manager, Development & Communications at 416.638.7800 x 6226 or email@example.com.