Other Gift Planning Options
Although bequest gifts and gifts of publicly traded securities are the most common gift planning vehicles, there are many other options that may be a better fit for your particular circumstances. With that in mind we have included several other gifting options with brief descriptors. No matter what you choose to do, we strongly recommend that you discuss the benefits of any or all of these options with your own professional advisors. We also invite you to contact our gift planning specialists if you or your advisors have any questions.
Life Insurance
Making a gift of life insurance has been a popular method of supporting charities for years. It doesn’t matter whether it is a gift of a new policy, an existing policy or simply making the Alberta Cancer Foundation a death benefit beneficiary of the policy, this method of giving offers wonderful benefits to both the Foundation and the donor.
RRSP, RRIF & Other Deferred Pension Funds
Many people have a significant portion of their wealth invested in RRSPs, RRIFs and other deferred pension plans. For married couples, these funds generally transfer tax free to the surviving spouse. When that spouse dies, however, any money still in the funds becomes taxable. That can be a significant tax liability to your estate. You can offset all or part of that tax liability by donating the funds to the Alberta Cancer Foundation either by naming the Alberta Cancer Foundation as the sole or partial beneficiary of the fund, or by gifting all or part of the proceeds of the fund to the Alberta Cancer Foundation in your will.
Charitable Gift Annuity
A charitable gift annuity is a way of donating an irrevocable gift to the Alberta Cancer Foundation in return for guaranteed income for the rest of your life. The portion of your gift not used to provide the annuity income is used by the Alberta Cancer Foundation. The annuity is purchased on the donor’s behalf by the Alberta Cancer Foundation from a licensed insurance company. Guaranteed annuity payments will continue throughout the donor’s lifetime, unaffected by changes in the economy or interest rates. In most cases, that income is tax-free and can be guaranteed for the life of both the donor and his or her spouse.
Charitable Remainder Trusts
A charitable remainder trust allows a donor to irrevocably transfer assets such as income-generating properties, securities or cash into a trust. The trust pays income to the donor or other beneficiaries during their lifetimes, and the remainder will eventually benefit the Alberta Cancer Foundation.
Advantages for you include personal tax benefits, a lifetime income and no probate fees on the assets placed into the trust. A charitable remainder trust is often attractive to donors with highly appreciated assets.
Gifts of Residual Interest
A residual interest gift is an arrangement under which property is deeded to the Alberta Cancer Foundation through an irrevocable trust arrangement, but the donor retains use of the property for their lifetime or for an agreed upon term of years. The most common example is when a donor gives a gift of their principal residence and continues living there for the rest of their life. The donor is entitled to a gift receipt based on a “present value” calculation of the fair market value of the home at the time of transfer to the trust.
Interest-Free Loans
If you can afford to give up the income being generated by one of your investments, but don’t want to give up ownership of that asset, you may want to consider making an interest free loan to the Alberta Cancer Foundation. The income generated from the investment of that asset can then be used to support projects or programs funded by the Alberta Cancer Foundation.
Stripped Bond Coupons
No matter how low interest rates are today, it is still amazing what compound interest can do. A donor can spend a modest amount of money today to purchase and donate a Stripped Bond Coupon to the Alberta Cancer Foundation. Ten, 15 or 25 years in the future, that gift will have multiplied many times and will ultimately result in a significant gift.
Preferred Shares in Private Corporations
Much of the wealth in this country is invested by individuals in their own privately held corporations. You can support the Alberta Cancer Foundation by donating preferred shares in your private corporation. This is a complex but exciting way of making a gift. It often creates tremendous financial benefits for the cancer cause, the donor, the donor’s company and the donor’s family.
For more information, please call
- Calgary: 403-521-3433
- Edmonton: 780-432-8500
- Toll-free: 1-866-412-4222
Other ways to donate
To donate your car, visit http://www.donateacarcanada.ca or call 1-877-250-4904 and pick the Alberta Cancer Foundation as your charity of choice. You will receive a charitable tax receipt for the value of your car.
For other types of in-kind gifts, please call us at 1-866-412-4222. Unfortunately, we are not equipped to accept donations of household items or wigs.
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