Planned giving

Endowed funds

• another avenue to show appreciation for the work done in our community by WRRC
• a named endowed fund provides a kind of immortality for the donor, preserving your name or that of a family member to stand as an expression of the donor’s values
• a charitable receipt is issued for the amount endowed and for any subsequent contributions to the fund
• an endowed fund can be established as a living legacy or as part of a bequest in a will. These funds are managed by WRRC, with a percentage of interest earned disbursed on an annual basis
• WRRC is pleased to work with you to discuss the establishment of endowed funds

Legacy giving in your will

• in addition to making provisions for loved ones, a bequest often lowers taxes assessed against the estate and may actually increase the inheritance left for beneficiaries. This can be for a specific amount, a piece of property (example a piece of jewellery) or a residue of the estate after all debts and taxes

Legacy giving through life insurance

• transfer of ownership of an existing, paid-up policy – by transferring ownership, an immediate receipt is issued for the cash surrender value of the policy that can be applied to taxes in the year the donation is made.
• transfer ownership of an existing policy on which premiums are still owing – a donation receipt is issued when the policy is transferred and for subsequent premium payments on an annual basis. In some cases, insurance companies may be willing to split the policy into two policies with one given to WRRC and the second to meet family needs.
• purchase a new policy, naming the charity as the owner – donation receipts are issued for premiums paid to the insurance company. This is an excellent option for individuals wishing to provide support, who cannot afford a large outlay of cash, but who can afford to pay monthly premiums with discretionary income.
• retain ownership of the policy, but designate WRRC as beneficiary – to note is that beneficiary can be changed. This could be an option when it is the donor's desire to retain ownership and have access to the cash surrender value if needed. There are no tax benefits with this type of policy but it remains an excellent way to support WRRC

Stocks and bonds

• WRRC is now able to accept gifts of publicly traded stocks and securities
• in May 2006 the federal budget eliminated the taxation of capital gains on in-kind transfers of publicly traded securities and mutual funds
• receipts are issued for the fair market value of the securities on the day of the transfer. This is one of the many ways donors can make a difference. We encourage you to consider WRRC as an option when working on your financial planning

 

Contact WRRC at (519) 246-1526 for more information.

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