Ways to Give
Gifts for Today
Outright gifts: give you the joy of seeing the benefits of your donation today. Donations and pledges to RJDS may be made by cash, cheque, pre-authorized chequing, and credit card.
Monthly giving is an easy way to make a generous donation without making a large outlay of cash at one time - even $20 each month adds up over the course of the year.
You can arrange to have the amount automatically deducted on your charge card or from your bank account. And you can stop your participation at any time by notifying us in writing.
Gifts-in-Kind: stocks, bonds, mutual funds.
Stocks, Bonds and Mutual Funds
Giving publicly listed secutities, such as stocks, bonds and mutual funds, is a popular way of making a gift today, since these gifts are exempt from capital gains tax. You will receive a tax receipt for the market value of the securities on the day of legal transfer to RJDS.
Real estate, art, equipment, books, manuscripts
RJDS also accepts donations of appreciated property, such as real estate, art, equipment, books and manuscripts. You will receive a tax receipt for the fair market value of these gifts as assessed by qualified appraisers.
Gifts of Securities
Gifts of appreciated securities are more appealing than ever. As of May 2, 2006, the government made donations of publicly listed securities to public charities exempt from capital gains tax, effective immediately. Schools and other charitable institutions stand to gain from the elimination of the capital gains tax exemption for donations of publicly listed securities. This change in the tax policy will be of significant interest to a number of potential donors and will generate new opportunities for people to get involved with RJDS.
An outright gift of securities allows donors to see their gift at work during their lifetime and to fulfill their philanthropic objectives, while at the same time benefiting from immediate tax advantages. If you give stocks, bonds and mutual funds to RJDS, you will eliminate the capital gains tax on the increase in value. When you combine this with your 100% charitable tax credit, the savings can be significant. In some cases, the charitable tax credit could exceed the cost of the original investment.
For example:
Ms. Smith wishes to donate $1,000 to RJDS. She owns stock currently valued at $1,000, which she purchased several years ago for $400. This means she will have a capital gain of $600. Because she is donating the shares directly to RJDS, Ms. Smith is eligible for a gift receipt for $1,000, and she will not pay tax on the capital gain. Had she sold the shares and donated the proceeds, she would have been taxed on $300 (50% x $600) of the gain.
There are three ways a donor can transfer securities to RJDS:
Have the shares electronically transferred to RJDS.
Give the share certificate in the donor's name to RJDS, along with a Power of Attorney that allows the school to transfer the shares.
Re-register the shares certificate in the name of RJDS.
The school will work with our donors, along with their financial and legal advisors, to determine the best procedure for the individual and help guide him/her through the process. As with any gift, the donor may designate the use of the value of the securities or leave the gift unrestricted.
Tribute: A meaningful way to honour a friend, a relative, a colleague or loved one is to recognize a special occasion in their life with a gift of community caring. A notification card will be sent out promptly and a receipt will be sent to you.
In Memoriam: A caring way to convey sympathy and respect to surviving family members and love ones. A notification card will be sent if you provide us with the family's name(s) and address. A receipt will be sent to you.
Creating Your Legacy for the Future
Planned Giving
Future gifts to the Richmond Jewish Day School include charitable bequests provided in a Will, gifts of new or existing life insurance policies, and gifts of funds. Although you plan these gifts now, the school receives them some time in the future.
Gifts made, through your financial or estate plan.
Requires legal documentation, for example, a Will or a life insurance policy.
Comes from assets, not income.
Have tax advantages under current laws.
Arranged now to provide funds to RJDS at some time in the future.
Gifts that Give Back
You can make a major gift to RJDS and retain your financial security through retirement with gifts of charitable remainder trusts, residual interest arrangements and charitable gift annuities. These are life income plans that provide you with the opportunity to support the RJDS while preserving income for you or your family.
Charitable Will Bequest
Many Canadians support charitable organizations through future gifts from their estates. A Charitable Bequest is a direction in your Will that instructs your Executor(s) to leave one or more of your assets to a charitable organization(s). A Charitable Will Bequest is a way to support RJDS while helping you achieve significant tax savings for your estate. A Charitable Will Bequest is a meaningful way to reduce your taxes and increase your inheritances to your loved ones.
A Charitable Will Bequest - The Benefits to You
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Convenient
A Will bequest can be made no matter how old you are and can be for any amount you want.
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Simple
A bequest is easy to arrange. Simply ask your lawyer to include a bequest to RJDS in your Will.
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Flexible
Your bequest can be a specific amount, a percentage of your estate or the residue of your estate (a gift after your debts have been paid and other bequests made).
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Cost-effective
There are no extra out-of-pocket costs. Your present income will not decrease.
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Tax Relief
A charitable Will bequest is the only effective method to reduce estate taxes.
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Tax Planning
RJDS will issue a tax receipt for the full value of your bequest. This receipt will be used to reduce the tax payable on your final tax return. If your bequest exceeds 100% of your net income, the excess may be carried back to the previous tax year.
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Control
You retain use of the charitable gift for the duration of your lifetime.
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Peace of Mind
You can make changes in your Will at any time.
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Satisfaction
Planned gifts are made for personal reasons, in addition to ensuring that RJDS continues its excellence in education your bequest can symbolize a lasting memorial for you, your family or anyone you may wish to honour.
Gift of Life Insurance:
A gift of Life Insurance is a simple and easy way to support RJDS. A life insurance policy enables you to leave a gift to RJDS for a relatively small financial outlay allowing you to make a significant gift that you might not otherwise be able to give. Many of our donors would like to make a significant contribution, however they may not have the financial resources to make a large gift during their lifetime. Life insurance gifts are the perfect answer. In addition, you can make a gift of either a new or existing policy.
A Life Insurance Gift - The Benefits to You
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Simple and Convenient
The transaction is simple. Your life insurance agent can advise you on the type of policy that would best fit your needs, custom design your program and carry through with the necessary paperwork.
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Inexpensive
A way to make a larger gift than you might otherwise be able to, without depleting your current assets now or your estate later.
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Leverage
The ultimate value of your policy will be far more than the premiums you pay.
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Save Taxes Today
Some methods allow for immediate tax relief in the form of the charitable tax receipts.
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Estate Preservation
Your estate to your family is not diminished because life insurance, by its very nature, creates an additional, separate "estate".
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Eliminates Probate, Legal & Executor Fees
Life insurance is not subject to probate costs or delays in settlement. The full proceeds are payable to RJDS at maturity or upon your death.
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Peace of Mind
You can plan, arrange and announce the gift yourself and you will know that it will occur just as planned.
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Control
Life insurance is not a matter of public record allowing you to remain anonymous. And unlike a Will, the gift cannot be contested.
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Recognition
You and your gift can be honoured during your lifetime for the full amount of the policy.
Four ways that a donor may give life insurance for the benefit of RJDS.
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Purchasing a policy and naming RJDS as owner and beneficiary. The donor will receive a tax receipt annually for the entire premium paid.
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Gifting an existing paid-up policy by changing the owner and beneficiary to RJDS. The donor will receive a tax receipt for the full cash value of the policy, plus any accumulated dividends.
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Gifting a policy on which a donor is still paying premiums and names RJDS irrevocable owner and beneficiary. The donor will receive a receipt for the cash surrender value, if any. Further, as premiums come due and are paid, receipts for the amount of the premiums will be issued to the donor.
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Designating RJDS in a donor's will to receive the proceeds of a policy. In this type of format, the donor would not benefit from a tax receipt in his/her lifetime. However, in the future, when RJDS receives the proceeds of the policy and if the policy is specifically mentioned in the donor's will, RJDS will issue a tax receipt which will benefit the donor's estate. (Tax credit of up to 100% of net income in the year of death and year preceding death.)
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We participate in the Charity Life Direct program.
Charitable Trusts
RJDS may accept two types of irrevocable charitable trust arrangements:
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A remainder trust that pays the donor income from the assets (i.e. real estate, securities, cash) for life or for a number of years, and then distributes the principal to RJDS;
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A residual trust whereby an asset (personal residence, work of art, investment property) is donated today, but the donor retains the use of it during his/her lifetime.
Reinsured Charitable Gift Annuities
A gift annuity is an irrevocable transfer of money or other assets to RJDS. A portion of the principal is used to purchase an annuity from an insurance company. The cost of the annuity is based on the donor’s age and income requirements. The remainder of the principal is considered an outright gift used for the purpose specified by the donor. The annuity pays the donor a guaranteed income for a specific time or for the remainder of the donor’s life. Upon the donor's death, RJDS receives any remaining guaranteed income from the annuity, unless the donor has specified otherwise.
Please Seek Expert Advice: RJDS strongly recommends professional advice to ensure that your financial goals are considered, your tax situation reviewed and your planned gift is tailored to your circumstances. RDJS recommends that you consult your lawyer or estate planner regarding the specific wording of any charitable Will bequests.
