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PLANNED GIFTS

A thoughtful method of charitable giving that enables you to design your gift in a way that satisfies your philanthropic objectives and at the same time maximizes tax and other financial and personal benefits. In most instances, a Planned Gifts will allow you to make a larger gift than you thought possible.

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Planned Gifts you can make to the Ottawa Senators Foundation or our charity of choice Roger Neilson House are:

A Bequest in Your Will

A charitable bequest is a gift made by Will. A bequest is one of the simplest ways to make a gift to the Ottawa Senators Foundation or our charity of choice Roger Neilson House and often at a level not possible during one’s lifetime.

Benefits to Donor

Making a will is not only a sensible thing to do — no matter what your age, no matter how big or small your estate — it is also the loving thing to do. Here’s why:

  • A Will enables you to distribute your money and property as you choose.
  • As a donor, you can be assured that your family and loved ones are provided for and be content with the knowledge that you are also supporting the Ottawa Senators Foundation or our charity of choice Roger Neilson House.
  • A bequest in your Will to the Ottawa Senators Foundation or our charity of choice Roger Neilson House can significantly reduce taxes payable upon death.
  • A Will comes into affect upon death, therefore, you retain the right to alter your gift throughout your lifetime
Tax Advantages

A bequest to the Ottawa Senators Foundation or our charity of choice Roger Neilson House will provide a tax benefit to your estate. Your estate will receive a charitable donation receipt for the full value of the bequest. That receipt will reduce the tax payable by the estate. If the total bequest cannot be used for tax purposes on your final tax return, the excess may be carried back to the previous tax year creating a reduction in taxes previously paid. The donation claim limits is 100% of net income in each of those years.

Types of Bequests

A bequest is one of the most common ways that individuals choose to give to a charity such as the Ottawa Senators Foundation or Roger Neilson House and usually takes one of the following forms:

  • An undesignated bequest allows the Ottawa Senators Foundation to use your gift where the greatest need exists.
  • A designated bequest is a gift with a specific purpose. You may, for instance, specify that your gift be used for a particular area of support like educational bursaries, health & wellness, or recreational opportunities.
How to Make a Bequest

Wills can be complex documents and should be drafted with the assistance of legal counsel. In addition, donors and their advisors are encouraged to involve the experienced staff of the Ottawa Senators Foundation or our charity of choice Roger Neilson House in this process. The wording of a bequest, if not crafted properly, can become difficult to administer. To ensure correct and timeless wording that best honours your true intention, we would be delighted to help you and your advisor fine-tune the relevant clause in your Will.

The proper legal name for making a gift to us is Ottawa Senators Foundation.

The proper legal name for making a gift to our charity of choice is Roger Neilson House.

For more information please contact us.

Life Insurance

Life Insurance is an easy and accessible means of supporting the Ottawa Senators Foundation or Roger Neilson House.

By making a gift of life insurance, you ensure that the Foundation will receive the death benefit of the policy. You can donate an existing policy, a new policy or even name the Foundation as a contingent beneficiary of a new policy.

The arrangement you choose will depend on your objectives, the needs of those close to you, and your age. In addition, your gift will generate significant tax savings which you can benefit from right away or defer to reduce the taxes payable by your estate.

Benefits to Donor

For the nominal cost of the insurance premiums, you can make a significant donation to the Sens Foundation or Roger Neilson House.

The gift is flexible. You can structure the policy so that you only pay premiums for a limited time, select the number of payments, or even make a single payment to set up and prepay the policy.

You can choose when you receive the tax benefits. By designating the Ottawa Senators Foundation or Roger Neilson House a beneficiary of a new or existing policy, upon your death your estate will receive a charitable donation receipt for the value of the death benefit. If you would like immediate tax benefits, you can transfer ownership of a new or existing policy to the Ottawa Senators Foundation or Roger Neilson House. You will receive a charitable donation receipt for the cash surrender value and each year you will receive a charitable donation receipt in the amount of the premiums paid.

  • Life insurance is not subject to probate fees or delays in settlement.
  • Life insurance is not a matter of public record.
  • Unlike a Will, a gift of life insurance cannot be contested.

For more information on the many ways to make a gift to the Ottawa Senators Foundation, please contact us.

Establish a Trust

If you have cash or an asset (stocks, bonds or real estate) that you have considered leaving to the Ottawa Senators Foundation or Roger Neilson House in your Will but would like the tax benefit now, then a charitable remainder trust may be for you.

A charitable remainder trust pays you and/or your beneficiary an income for life from the principle of your invested asset.

A charitable remainder trust generates a donation receipt when you make the gift. You will receive a receipt for the present value of the remainder interest of the trust.

A charitable remainder trust can be either inter vivos (established during your lifetime to provide an income stream to you and/or your named beneficiaries) or testamentary (established through your Will to provide an income stream to a spouse or another beneficiary/ies after your death).

How does a Charitable Remainder Trust work

You transfer the income-producing property to a trustee of your choice, who holds and manages it. The trustee will then pay you and/or the named beneficiaries an annual income. At the same time the Foundation will issue a donation receipt for the present value of the remainder interest. When the trust terminates (either upon your death or the death of the named beneficiaries, or after a term of years), the remainder of the trust will be distributed to the Ottawa Senators Foundation or Roger Neilson House.

Benefits to Donor
  • You or your beneficiaries receive a lifetime income from the assets you donate to the Ottawa Senators Foundation or Roger Neilson House.
  • You receive immediate tax benefits to off-set your current income.
  • Gifts of appreciated property can be structured to avoid capital gains tax.
  • This type of trust is not included in the value of your estate, thus avoiding probate fees.
  • Unlike a bequest, this type of gift cannot be challenged in court.
  • You help us help kids.

*NOTE: this type of gift is irrevocable (you cannot change the terms of the gift or trust).

Wealth Replacement

Ensure your family that their inheritance has not been disturbed. You may wish to replace the value of the gift (asset) you have transferred to a charitable remainder trust with a life insurance policy in the same amount and name your family as beneficiaries. This is called wealth replacement because your family will receive an amount equal to the value of the gift (asset) you transferred to the trust, but in tax-free dollars.

The proper legal name for making a gift to us is Ottawa Senators Foundation or Roger Neilson House.

For more information on the many ways to make a gift to the Ottawa Senators Foundation, please contact us.

Residual Interest

You may gift property, such as your residence or artwork, but retain the right to use your property throughout your lifetime. This is called a gift of residual interest.

Benefits to Donor

A residual interest gift will allow you to make a significant donation to your favourite charity without losing the use of your property.

  • This is a great way to make a large donation.
  • You continue to enjoy the use of your property during your life.
  • This type of gift is not subject to probate and therefore is less likely to be challenged.
  • You can receive a charitable donation receipt today for a gift that will go to charity someday in the future.
How does it work?

You will be required to legally transfer ownership of your property to the Ottawa Senators Foundation or Roger Neilson House.

  • You will retain the use of the property during your lifetime.
  • The Foundation will give you a charitable donation receipt for the present value of the residual interest.
  • The proper legal name for making a gift to us is Ottawa Senators Foundation / Fondation Senateurs.

For more information on the many ways to make a gift to the Ottawa Senators Foundation, please contact us.

Securities

Since 1997, federal incentives have made it very attractive to donate publicly listed securities that have appreciated in value.

As part of the most recent Federal budget Canadians will no longer be taxed on the capital gain accrued on gifts of publicly traded securities when the securities are donated to a registered charity such as the Ottawa Senators Foundation or our charity of choice Roger Neilson House.

Benefits to Donor
Sell Stock and Give Cash of $100k Give Stock of $100K
Fair Market Value $100,000 $100,000
Cost Basis $20,000 $20,000
Capital Gain $80,000 $80,000
Taxable Gain 50% = $40,000 0%
Tax payable on Gain $15,600 $0
@ 39% ($40,000 x 39%) $0
Donation Receipt $100, 000 $100, 000
Tax Credit x 40% ($100,000 x 40%) $40,000 $40,000
Tax Savings $40,000
-$15,000 $40,000
=$24,400
Options for making a Gift of Securities

Electronic transfer of securities from donor’s brokerage account to Sens Foundation’s or Roger’s House brokerage account. This is perhaps the easiest way to make a gift of securities. There is no need to transfer the actual certificates. You, the donor, simply instruct your broker to make an electronic transfer through a letter of authorization. You will receive a charitable donation receipt for the fair market value.

 

Donor endorses the securities certificates to the Sens Foundation or our charity of choice Roger’s House. The donor then delivers the endorsed certificates via hand delivery, registered mail or courier. The certificates and the share transfer agreement form must be mailed separately. The fair market value is determined on the date the certificates are received by the Foundation, and a charitable donation receipt issued.

 

Note: Ask your broker to waive brokerage fees in the name of charity.

 

The proper legal name for making a gift to us is Sens Foundation.

 

The proper legal name for making a gift to our charity of choice is Roger’s House.

 

For more information on the many ways to make a gift to the Sens Foundation, please contact us.

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