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Will and Codicil
The most commonly planned gift, a charitable bequest, is a donation made through your Will.
You can choose to leave The Rotary Bursary Endowment Fund a specific piece of property, a pre-determined sum of money or a percentage of your estate. Planned today, a bequest benefits the Endowment Fund after your death.
By carefully planning your bequest, you can eliminate significant taxes payable upon your death. Your estate may claim gifts in the year of death equal to 100 percent of your net income in that year and the year preceding death.
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Gifts of Life Insurance
A gift of life insurance is a creative way for you to build our long term financial strength without diminishing your own – even a relatively small commitment can provide significant benefits for the Rotary Bursary Endowment Fund.
Ways to give using life insurance:
- You may donate a paid-up life insurance policy that has now outlived its original purpose by naming Rotary Club of Gravenhurst the owner and beneficiary.
- You may gift an existing policy on which premiums are still being paid by transferring ownership to Rotary Club of Gravenhurst.
- You may make a gift by purchasing a new policy on your life, naming the Rotary Club of Gravenhurst as the owner and beneficiary.
- You may also choose to retain ownership of your policy and name the Rotary Club of Gravenhurst as the direct beneficiary.
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Real Estate & Property
A gift of property including real estate, jewellery or art can be an attractive way to make a substantial commitment to the Rotary Bursary Endowment Fund and to realize important tax and income benefits.
Note on Appraisals: Prior to making a gift of real estate, you will need a professional appraisal completed by a qualified third-party appraiser to determine the fair market value of the property.
With the appraisal complete and the property legally transferred, a receipt for income tax purposes will be issued for the appraised value.
There are many ways to make this donation: you can give the property outright, place it in trust, retain the use of it for life or gift it by Will.
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Stocks & Bonds
In May of 2006 the Federal Government created an incentive for you to give marketable securities to public charities like the Rotary Club of Gravenhurst. When you sell stocks, mutual funds, or flow through shares that have appreciated in value, you would be required to pay tax on 50% of the Capital Gain.
The new legislation allows you to donate the securities and pay No Capital Gain!
Rather than selling the security and giving the cash, the most cost effective and most beneficial tax advantage is to give the security directly.
Benefits of Making A Gift of Securities
✅ No Capital Gains Tax
✅ Full Market Value Tax Receipt
✅ Create a ‘Family Bursary’ tax-free
✅ Leave a lasting Legacy