Plan your charitable donations to GAMIING in advance.
Planned giving refers to several specific gift types that can be funded with cash, equity, or property. These gift vehicles are commonly based on Canadian law. See CRA http://www.cra-arc.gc.ca/chrts-gvng/menu-eng.html
A donor may consider a current gift to your institution as a cash outlay now. To make a deferred gift, a person decides to give at some future date, either a number of years from now or at death. A deferred gift is a present decision to make a future gift, evidenced by a legal contract.
Planned gifts are referred to as such because they require more planning, negotiation and counsel than many other gifts. Planned gifts can result in immediate income, income to charity over time or serve to delay a gift for life or other period of time while the donor or others retain income and/or access to the assets used to fund the gift. Because of the current or future charitable benefits, a number of state and/or federal income tax, capital gains, estate and gift benefits are associated with giving in this way.
For more information, please contact us.
Here's a summary of the types of planned gifts. By far, the most commonly utilized planned gift is the bequest of property through a person's final will. Other types include:
- Charitable Gift Annuity (CGA)
- Chariable Remainder Annuity Trust (CRAT)
- Charitable Remainder Unitrust (CRUT)
- Charitable Reminader Trust
- Charitable lead annuity trust
- Charitable lead trust
- Donor Managed Investment Account
- Pooled income fund
- Retained life estate
- Testamentary life income
Assets to give
- Business Interest
- Life Insurance
- Personal property
- Real Estate
- Retirement Plan