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Planned Giving

What is Planned Giving?
Planned giving is simply saying, "I would like to do something of significance for an charity, non-profit organization, or an individual, either now or after my passing." These gifts often stem from a desire to make a significant impact to a cause that you have faithfully supported.

Planned Giving can have a positive impact on your taxes, both now and in the future, resulting in the government receiving less and those you care about receiving more. There are many effective strategies to help you minimize personal or corporate taxes, while giving vital support to a cause you believe in.

Partners in Hope endevers to work with you in your planned giving, allows our donors to maximize tax and estate planning benefits, while providing significant long-term financial benefits to the Partners in Hope. Find out more about various planned giving options below:


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Some of the offered plans for Planned Giving.


Outright Gifts

When you make an outright gift of cash or property to Partners in Hope, every dollar goes to work the moment it is given and provides vital support for hurting men, women and children, or generates ongoing endowment income. An outright gift gives you the satisfaction of seeing your gift at work, knowing that lives are being touched right now because you cared.

Gifts of Cash
Revenue Canada's charitable donation tax credit means that your gift is worth more to Partners in Hope than its actual net cost to you. Each year a percentage of the value of your accumulated donation receipts - 17 percent for the first $200 and 29 percent thereafter - can be subtracted from the federal income tax you owe and reduces your provincial taxes as well. Depending on your provincial rate, the combined tax savings could be as much as 50 percent of your contribution.

Gifts of Appreciated Property
In addition to cash, these can include appreciated property such as stocks, mutual funds and real estate. Special tax breaks are currently available for these gifts. Non-cash assets, such as securities and real estate, are also suitable as outright gifts. In fact, the Federal Budgets of 1997 and 2000 have made gifts of listed securities particularly attractive.

Additional tax tips

  • Charitable donations may be claimed up to an annual limit of 75% of net income (100% for gifts made in the year of death, including testamentary gifts such as bequests).
  • Individuals and corporations who donate shares or other securities get a tax break on any resulting capital gain. As of the May 2, 2006 Federal Budget, any capital gains arising on the donation of the securities will be tax-free.
  • Unclaimed charitable donations can also be carried forward up to 5 years.
  • Either spouse can claim the tax credit, regardless of which spouse's name is on the charitable donation receipt.




Wills & Estates

Someday, what you have acquired over your lifetime, will go to someone else. You have had the privilege of choosing the recipient(s) if you have a valid Will. If you pass away without a Will, the Government will distribute your estate according to their guidelines. For the charities you choose to support during your lifetime, you may wish to make a bequest. It is a growing practice for people to make a provision in their wills for their favourite charitable organizations.

If you choose to name Partners in Hope in your Will, you can give a straightforward bequest of money or property. Alternatively, you can make a residual gift leaving all or a portion of what remains after specific provisions have been met for your loved ones.

Securities

A gift of publicly-traded securities, such as stocks, bonds or mutual funds, can be made to the Partners in Hope. Since 2001, there are tax incentives for donating securities instead of selling the securities and dontating cash.

Your securities must be eligible publicly traded securities to donate which may include: shares, debt obligations or rights listed on a prescribed stock exchange, shares of the capital stock of a mutual fund corporation, units of mutual fund trusts, interests in a related segregated fund trust or a prescribed debt obligation.

Gift Annuity

You may have savings and investments, but with the fluctuations of the marketplace, you find your month-to-month income doesn’t keep pace with rising prices. What is more, you realize that your investments have to last your lifetime. If this is your dilemma there is good news! You may be able to make a gift and improve your cash flow at the same time, making use of what is known as a gift annuity. A Gift That Gives Back

A gift annuity is an arrangement by which you make a contribution to a charity and receive, in turn, guaranteed payments for life. The amount of these payments depends on your age and the size of your contribution, but they will likely be significantly higher than you are receiving from your present investments. These annuities are guaranteed to continue as long as you live, no matter what happens to the economy or interest rates. If you are married, you may want to choose a joint-and-survivorship annuity that continues as long as either spouse lives.

Your gift annuity gives you a special bonus at tax time because sizeable portions of your payments are tax-free. Older annuitants will receive payments that are totally tax-free and will also receive a donation receipt that will result in a tax credit.

Life Insurance

Life insurance can be a way of helping others meet their need for food, clothing and shelter. There are several ways you can use life insurance to make your gift to Partners in Hope. You can contribute a policy you already own but no longer need, or purchase a new one as your gift. If you have other assets you’d like to contribute to Partners in Hope, you can use life insurance to replace the value of those assets, for your heirs. A life insurance policy is a gift for today with an impact for the future. The premiums paid on the life insurance policy are tax deductible and the end result is a greater gift than the original premiums paid.

Gifts of Residual Interest

You can have the satisfaction of making a major gift to Partners in Hope now and receiving an immediate tax benefit and have the ability to continue to use and enjoy the gifted property for the rest of your life.

This is known as giving a gift of residual interest with retained life use, and usually involves your principal residence or other personal use real estate. In making such a gift, you transfer the property irrevocably to Partners in Hope but retain its lifetime use. If you wish, the arrangement can include use of property for your spouse's life.

When the transfer is made, you will receive a donation receipt for the present value of the residual interest - the value in today's dollars, of the property Partners in Hope will receive at your passing away. This is calculated based on the property's appraised value, your age, and an appropriate discount rate.

The joy of living in your residence or enjoying property such as a vacation home can be increased, knowing that when you no longer have need of it, it will become your gift of support for your favorite charity. You are able to gift your property now and benefit by receiving tax considerations. You then continue to live in your own home, all the while knowing in the future, your home will have a significant impact on a cause you believe in. In case of a residual gift of fine art, it stays on your walls for your enjoyment, and you receive a tax receipt.

Charitable Remainder Trust

You may have an asset - a sum of cash, securities or real estate - that you'd like to become your gift to Partners in Hope but for now you need the income it provides. One possibility, of course, is to leave it as a bequest in your will. But there is another way: with a charitable remainder trust, you can make your gift now and continue to receive the income for your lifetime, the joint lives of yourself and your spouse, or a specified number of years.

Unlike a future bequest, which yields no immediate tax benefit, the charitable remainder trust provides you with a donation receipt in the year of your gift. Also, placing the property in trust frees you from the management responsibility and removes the property from your estate, guaranteeing your privacy.

The charitable remainder trust is a versatile giving technique that you can tailor to your own situation. You designate the trustee who will administer it - any qualified institution or individual. Since these are important decisions, and because the trust, once established, is irrevocable, you should seek the guidance of your personal financial and legal advisors. A Partners in Hope representative is available to assist you along the way.