- Gifts of cash, securities and in-kind gifts
- Life insurance
- Bequests
- Charitable gift annuities
- Charitable trusts
Capital gains tax has been eliminated for charitable and foundation donations
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Gifts of Cash, Securities and In-Kind Gifts
Cash gifts may be made outright or pledged over a number of years and can be claimed as a tax credit.
Gifts of securities, bonds or real estate may be made to the Foundation and a tax receipt will be issued for an amount up to the fair market value of the gift at the time of the donation. For gifts of appreciated securities, the capital gains tax has been completely eliminated so you enjoy considerable tax savings.
Life insurance
Gifts of life insurance allow you to provide for a larger legacy tomorrow by making a manageable commitment today. You may establish a fund with a life insurance policy for as little as two hundred dollars per year by assigning an existing policy to the Foundation or by purchasing a new policy, naming the Foundation as the beneficiary. Either method offers substantial tax benefits and all premiums are tax deductible.
When the proceeds of the policy are transferred to a fund at the Foundation, you have created a legacy which can be directed to support your favourite charity, field of interest or to perpetuate your gift to the Federation Annual Campaign.
The Foundation also participates in the Charity Life Direct Insurance Program, a unique program that enables donors to provide for a legacy with a manageable annual commitment for a prescribed length of time. You can choose between a three and a five year commitment for annual premium payments. The contract is fully paid-up once these payments have been made.
Coverage may be purchased for amounts between $15,000 and $50,000 and your acceptance is guaranteed with no medical exam required.
The Charity Life Direct Insurance Program provides a simple, guaranteed way for you to create a legacy with the Jewish Community Foundation. You can subscribe online today or submit a request to receive a brochure with additional information.
Bequests
A bequest – such as a sum of money, a percentage of your estate or a designated property – bestows a deferred gift through your will to an endowment and can provide valuable tax saving to your estate.
Charitable Gift Annuities
If you wish to create a legacy with an endowment during your lifetime but still have income needs, an annuity may be of interest to you. These gifts will provide you with guaranteed lifetime income (much of which can be tax free) and, depending on the type of annuity chosen, will result in a significant present or deferred gift to establish an endowment. These gifts can yield substantial tax benefits throughout your lifetime and are most beneficial for those aged 70 and older.
Charitable Trusts
A Charitable trust is a living trust which you establish by contributing your assets, which then pays you an income during your lifetime. Upon your death, the “remainder” (i.e. the capital) will pass directly to the Foundation to be directed to your endowment fund. The advantage is that you enjoy tax savings during your lifetime compared to a bequest which benefits your estate after your death.
For more information on this and other methods of giving, please call Marcie Flom, Associate Executive Director, Financial Resource Development 604.257.5100 or mflom@jewishvancouver.com
