Gift
Planning
Many people very generously make an annual charitable
donation to non-profit organizations. Planned Giving is simply another way of making a gift. A bequest in your will or a life insurance policy naming Home-Grown Food Network as your beneficiary is an example of Planned Giving. A planned gift is a very individual decision that considers your giving objectives, while maximizing the tax advantages and
estate planning benefits of the gift. Your gift may be outright and immediate,
or a future gift arranged now but not received by Home-Grown Food Network until
a future date.
Many friends and supporters of Home-Grown Food Network are
discovering their planned gift can make a huge difference in the lives of the
people in our community. This may be a way that let's you give a gift larger
than you ever imagined.
You can create your major and
planned gifts in many ways.
Find out more about:
Home-Grown Food Network's role is to assist you and your
advisor to achieve your giving objectives in the most effective way based on
your personal priorities. We welcome your comments, questions, suggestions and contributions, both in kind and monetary, and would be pleased to
answer your questions.
For more information on Planned Giving or a personal
consultation please contact Home-Grown Food Network's Manager of Major and
Planned Gifts, Peter Naughton:
phone: 760-362-2828
fax: 954-606-8735
email: peter@home-grown.org
An immediate cash gift is the simplest and most common gift.
The tax credits from the donation receipt are used to offset tax otherwise
payable at higher tax rates. An immediate cash gift maximizes the present value
of the tax savings.
Gifts of Securities
When you sell publicly-listed securities, including shares,
bonds, and mutual funds, that have increased in value, 50% of the capital gain
is taxable. If instead you gift the securities by transferring ownership to
Home-Grown Food Network, only 25% of the capital gain is taxable. In addition,
you receive a donation receipt for the full value of the securities. The tax
credit from the donation receipt will exceed the reduced tax on the capital
gain and can be used to reduce tax payable on your other income.
Gifts of Property
These could be an outright gift of a capital property (for
example real estate) or a gift of a residual interest. Both types of gift have
unique tax advantages. As an example you may decide to transfer your residence
to Home-Grown Food Network now, but continue to use it during your lifetime.
You would receive a donation receipt for the value in today's dollars of the
property to be received by Home-Grown Food Network at the end of your
lifetime back
Donor Advised Funds
You enter into an agreement with Home-Grown Food Network
concerning your fund. Your substantial irrevocable gift, usually cash or
securities, provides the funding and you receive a donation receipt. Income
from the fund is distributed on annual basis, while the principal can be
distributed after ten years. A donor advised fund allows continued donor
involvement in the distribution of their gift. back
Will Bequests
Your Will bequest to Home-Grown Food Network can create a lasting legacy to perpetuate your tradition of annual gifts to support your community. Gifts of a specific cash amount or asset or a percentage of the remaining estate are popular bequest choices. Your estate receives a donation receipt for the value of your gift, providing a tax credit
to reduce tax otherwise payable on your final tax return. Please contact us to
receive sample Will Clauses to be used for discussion purposes with your lawyer
in preparation of your Will. back
Gifts of Life Insurance
Life insurance is a way to make a significant future gift at
an affordable current cost with out reducing your estate available to family
and friends. Making Home-Grown Food Network the owner and beneficiary of an
existing or new policy entitles you to a current donation receipt on the cash
surrender value (if any), and further receipts on payment of subsequent
premiums.
An alternative is to simply name Home-Grown Food Network as
beneficiary. Instead of current donation receipts your estate receives a
donation receipt when the policy proceeds are received. back
Gifts of Retirement Plans
Transform tax liabilities into a charitable gift by simply
naming Home-Grown Food Network of the Lower Mainland as the beneficiary of your
RRSP or RRIF plan. At the end of your lifetime the proceeds are received by
Home-Grown Food Network and a donation receipt is issued to your estate. The
RRSP or RRIF tax liability due on your final tax return is entirely offset by
the tax credit from the donation receipt. Similar treatment is afforded to a
Registered Pension Plan - RPP. back
Charitable Remainder Trusts
Assets are transferred into an irrevocable trust and you
appoint a trustee to manage the assets. Under the terms of the trust you
continue to enjoy the income for your lifetime or a specific duration. On
termination of the trust Home-Grown Food Network would receive the remaining
assets.
In addition, you receive an immediate tax credit as a result
of a donation receipt issued on set-up of the trust. The donation receipt
represents the present value of Home-Grown Food Network's interest in the trust
to be received at a future time.
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Charitable Gift Annuities
A Charitable gift annuity is an arrangement where you make a
contribution to Home-Grown Food Network and in exchange receive a guaranteed
lifetime annuity income. Home-Grown Food Network retains the balance of the
contribution not required to purchase the annuity. If you start this annuity
between age 75 - 90, you can expect fully tax- free income, and partially
tax-free for ages 65 - 74. Perhaps the annuitant could be an aged parent who
needs financial support.
In addition, where your annuity income is fully tax free, you
will receive a donation receipt, in the amount of your contribution minus your
expected lifetime annuity income. back
Gifts to the Endowment Fund
Your gifts to the Endowment Fund will continue to generate
revenue forever. Home-Grown Food Network’s Endowment Fund, invests your gift,
protecting the principal while producing an annual income. This income
partially offsets Home-Grown Food Network's annual fundraising costs - ensuring
95 cents of every donor's charitable dollar goes directly to vital services in
the community. Many donors make donations to the Endowment Fund as part of
their annual gift, or direct a Will bequest to the Fund. Home-Grown Food
Network can assist you in establishing your own named endowment fund. back
You truly make a difference today
and tomorrow!
For further information please contact:
Peter Naughton, Manager, Major and Planned Gifts
phone 760-362-2828
fax: 954-606-8735
email: peter@home-grown.org
The
information on this site is not intended as legal, tax or investment advice.
For such advice, please consult an attorney, tax professional or investment
professional.
