Types of Charitable Giving

Other than donations of straight cash there are several other ways you can donate. Many of these ways will assist you in saving taxes and organizing your estate.

Securities

For people who have much of their finances tied up in investments, securities are an ideal way to make a donation. You’ll receive a tax receipt for the market value of the shares. A gift of securities has great tax benefits, especially if the shares have appreciated significantly.

When you donate shares you do not have to pay capital gains tax. Also, your donation effectively decreases your taxable income for the year.

Donating shares is an excellent alternative to donations of cash. Visit www.donateshares.com for more information on this excellent gifting strategy.

Bequests

The most common of all Charitable Gifts is a bequest. A bequest allows you use of all of your donated assets during your lifetime and leaves a portion of them to charity at your death. You can give a specific asset or amount, or a percentage of your estate.

This requires an up to date will and some legal advice. You may also designate how you want the gift used by us—such as sponsorship, equipment, and so on. We are very appreciated of bequested gifts and it’s a great way to leave a legacy.

Gift in kind

Do you have equipment or other materials that you think we could use? Do you have extra quality sports equipment, building materials, or a vehicle?

Gifts of value will be accepted by us, and a tax receipt will be issued for the independently appraised value of the gift. If we can use the equipment we will, if not we will sell it and use the proceeds for stuff we do need!

Life Insurance

For people starting policies, or those who’ve had them for years, making us the owner and beneficiary is a profitable option. Your policy keeps increasing, and you automatically receive a charitable receipt for the cash value as well as for the premiums you pay.

If you’d like to hold on to a portion of the policy for your family or other beneficiaries, you can designate any percentage of the policy towards us, and receive a deduction for that percentage.

These planned gifts don’t require any extra cash from you and increase your tax deductions. This type of legacy gift would require a conversation with whomever is helping you manage your estate.

Airmiles and Club Points

Did you know that you can setup a way to donate your Club Z, HBC, and even Airmiles points to S.E.N.S.? Most club points programs can be set up so that anyone can donate there “points” to their favourite charity.

Endowment Fund

An endowment fund is a perpetual gift. Any cash donated to our endowment will be invested and anything earned off those investments will be donated to S.E.N.S.

This endowment can be setup in the name of the donor or in remembrance of an individual. Just visit www.cfno.org to learn more about the endowment concept. The Community Foundation of the North Okanagan exists to run endowments for charities just like ours. There is a minimum $5,000 investment to donate to the endowment fund.