Time to consider your legacy
Each year, as the weather gets warmer and we are reminded that new life is upon us, we are also reminded of the importance of philanthropy, making a difference in the community and considering planned giving.
Leave a legacy month is a community based awareness campaign that encourages donations through a will, an estate or through another method of planned giving. First established more than 10 years ago, the campaign works to connect donors with charitable organizations.
But with the arrival of this philanthropic month, comes the realization that there are many ways to give and many organizations that have a demonstrated need. So where do you start?
Typically planned giving involves a donation or a gift made during lifetime or death that is part of the donor’s financial or estate planning. There are many ways to leave a gift for an organization, including allocating money, securities or stocks, real estate or even items such as artwork or automobiles.
Donors can give an outright gift that uses appreciated assets as a substitute for cash, a gift that returns income or other financial benefi ts to the donor in return for their contribution, or gifts that are payable upon the donor’s death.
In addition to receiving tax receipts, there are often other benefits associated with planned giving. For details specifi c to a donation you are considering, consult with a fi nancial planner or tax specialist.
Start your search by considering organizations that do work that is aligned with your personal values. Are you a service minded individual? An animal enthusiast? There is a non-profit organization to match every interest. Once you have completed your search on the organization you would like to work with, the next step is to reach out to the organization and to your financial planner. Figure out what type of gift you are looking to leave and learn the steps that will need to be completed on your end and what is required from the organization. As every group is different, make sure to put some research time into it.
Below are a few organizations to help you start your search:
The Salvation Army
Providing compassionate services to men, women and children in your community. Your gift helps The Salvation Army to help those in need overcome poverty, homelessness, addiction and mental illness across Canada and around the world by providing the necessities of life. Consult with your financial planner to discuss leaving a gift for The Salvation Army.
For more information contact www.thesalvationarmy.ca or contact George Warkentin, senior gifts planner at email@example.com
The War Amps
Since 1918, The War Amps has met the needs of war amputees. Today, the association continues to serve them, and all Canadian amputees, including children. The Child Amputee (CHAMP) Program provides financial assistance for artificial limbs, regional seminars and peer support. You can continue the legacy of “amputees helping amputees” with a charitable bequest or gift in your will. With your help, The War Amps is able to operate its many programs through donations from the public.
The Association does not receive government grants. For more information about leaving a legacy gift to The War Amps, visit www.waramps.ca or contact 1-800-363-4067.
Each year, tens of thousands of animals in desperate need of shelter, care and compassion are brought to Ontario SPCA branches and affiliated humane societies. In addition to providing animal sheltering, rehabilitation and adoption services, the society is responsible for enforcing the province’s animal cruelty laws. The Ontario SPCA relies on the kindness of its donors to keep the shelters open and investigators on the street - creating kinder communities. There are many ways to create a planned giving plan.
For information visit www.ontariospca.ca
Nature Conservancy of Canada
Striving to protect natural areas and biological diversity across all regions of Canada, the Nature Conservancy of Canada works with local communities and partners to preserve the natural environment and its species.
To learn more about planned giving opportunities with the Nature Conservancy of Canada, contact Marcella Zanella, director, planned giving toll-free 1-800-465-0029 ext. 2276 or email firstname.lastname@example.org.