PHILANTHROPY

"We make a living by what we get. We make a life by what we give."

- Winston Churchill


AN INVITATION TO CHANGE THE WORLD
LEADING BY EXAMPLE

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For Your Consideration

  • To which causes do you have deep connections?
  • Realistically, what size of gift are you capable of making?
  • How should you structure your donations to ensure maximum benefit to charities, and a tax advantage for you?
  • Are you constantly writing individual cheques to charities? Is establishing a public or private foundation a better avenue for you?

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Introduction

You may possess a profound sense of social responsibility or your passions may run to what some may consider rather eccentric. Regardless of your penchant, with wealth comes great potential to effect change.

Whether it’s a strong devotion to environmental issues, a commitment to health care, an affinity for sports, passion for the arts, or loyalty to your alma mater, your capacity to significantly and positively affect people’s lives is truly a position of influence.

Your Generosity, Compassion and Kindness

Sharing your good fortune through an endowment for agricultural scholarships, bequeathing your family’s art collection for all to enjoy, funding new local eldercare facilities, or preserving that little country chapel where your grandparents were wed – all pay homage to the privileges or recognize the fundamentals that contributed to your success today.

Directing Your Assets Toward a Better Tomorrow

Many equate a donation with a simple and straightforward one-time gift of money …and often it is.

Charities, however, are open to receiving donations in a variety of forms – some of which may, in the long run, be more or less advantageous to your beneficiary of choice and to your own estate planning.

Naturally, charities accept immediate cash donations. They also welcome:

  • Securities (such as stocks or mutual funds)
  • Gifts-in-kind (such as real estate assets, vehicles or art collections)
  • Testamentary bequests (a defined amount or set up as a charitable trust)
  • Life insurance policies (with the charity named as beneficiary)
  • Gift annuities (Inquire about the charity’s planned giving options).

Structuring Lasting Contributions

For those interested in creating a source of charitable funding that will extend beyond your lifetime, utilizing an endowment fund (Public Foundation) or establishing a Private Foundation, may better align with your intentions.

Structuring an arrangement for sustained giving necessitates a legal framework, trustees, your wishes, clear distribution rules in keeping with tax requirements, and a solid portfolio management strategy that will guarantee perpetual funding. Although more complex than a direct donation, you can be secure in the knowledge that once all is in place, your charitable cause will benefit from your enduring support.

To Keep in Mind

Whatever you choice – be it a one-time donation or a sustained stream of charitable funding – each has its own merits with all the inherent investment, legal, estate and other fiscal implications to weigh.

Designing your personalized philanthropy plan will require experts with this specialty. It is also key to keep in mind when planning donations that estate tax laws differ from Province to Province. There may also be additional local tax ramifications for assets held abroad. It is crucial to ensure your philanthropic intentions are accurately reflected in your overall financial plan – with provisions that maximize the positive impact for the beneficiary and benefactor alike.

We are always at your service for any additional information you may require.

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