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Gifts to the North Shore Community Foundation can be made during your lifetime or after your death. You may make a gift to:
Please Contact Us for assistance.
You are encouraged to discuss your proposed gift with a lawyer and/or a tax advisor to ensure you understand all aspects of your donation. It is not our intention to provide legal or tax advice.
What to Give Cash: Gifts of cash, whether by cheque, money order or credit card, are the most common way to donate to a charity and can be of any amount. A donation mailed in December, even if not received until January, qualifies as charitable donation for the year in which it was mailed. See Donation Form for cash or cheques and click on the Canada
Securities: A gift of publicly traded securities, such as stocks, bonds or mutual funds, can save you a considerable amount in capital gains taxes. If your securities have increased in value since you purchased them, 50 per cent of the gain is taxable. Since 2006, however, you will not have to pay any capital gains tax on the donation of securities to a charity, such as the North Shore Community Foundation. A securities gift form is available from your broker or Contact Us.
Other Property: Gifts of real estate and/or personal property may be accepted by the Foundation for management or sale. A fair market valuation for such gifts must be established to the satisfaction of Canada Revenue Agency. The ready marketability of the property and the carrying costs are among the factors in determining the acceptance of this type of gift by the Foundation. Contact Us.
Life Insurance: Life insurance policies can be a tax-effective way to give to our Foundation. There are a number of different types of policies and ways to structure the giving of life insurance. You may give an existing policy, which is no longer needed for its intended purpose, or establish a new life insurance policy as a planned gift. It is important to discuss the alternatives for this type of donation with an estate planner or other professional advisor. We would also be please to discuss these options with you and your advisor.
RRSPs and RRIFs: If your spouse is alive, there is a tax advantage to naming him or her as the beneficiary of your RRSP or RRIF. However, if you do not have a spouse or your spouse has passed away, your estate will be taxed on any remaining RRSP or RRIF funds, once you have passed away. If you chose to name the Foundation as the beneficiary of your RRSP or RRIF, your estate will receive a charitable donation receipt to offset the tax.
Will: You may not be able to afford to make a gift to a charity during your lifetime, but you may have assets that will pass to your estate under a Will. A bequest to the Foundation through your Will is a common option for a charitable donation. It may be for a specific amount or a percentage of the residue of your estate. You should consult with your lawyer about preparing a new Will or a codicil to your existing Will, and to help you word your wishes for this bequest.
Sample clause:
To give $ _______ (or x% of the residue of my estate) to the North Shore Community Foundation of 600 West Queens Road, North Vancouver, BC, V7N 2L3, (options)
Charitable Remainder Trusts: A Charitable Remainder Trust is an arrangement in which you irrevocably transfer assets (for example: cash, securities, property) to a trustee during your lifetime. You keep the right to the income from the trust either for your lifetime or for a specified number of years. After that time, the assets are transferred to Foundation. See your lawyer to discuss this option.
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