Gift Type |
Acceptable Assets |
Suitable For |
Benefit to Donor |
Benefit to the U of L |
Notes for Donor/Advisor |
Cash |
|
|
- Charitable receipt
- Satisfaction of seeing funds used
|
|
|
Securities |
- Publicly traded securities
- Stocks
- Bonds
- Mutual funds
|
- Donors who are invested in the market and can afford to give up the principal and earnings on their investment
|
- Avoidance of tax on capital gain
- Tax receipt for fair market value
- Satisfaction of seeing funds used
|
|
- The U of L has forms to facilitate transactions
|
Bequest |
- Cash
- Securities
- Real estate
- Other Property
|
- Anyone
- Especially those people with independent family or few heirs
|
- Satisfaction of knowing that a difference will be made in the future
- Membership in the Fiat Lux Legacy Society
|
|
- Please consult with the U of L, especially if gifts of property or real estate are part of the bequest
- Certain types of gifts may need the U of L's approval
- Prior discussion facilitates successful processes
|
Life Insurance — U of L Named as Owner and Beneficiary |
- Whole life or term policy
|
- Donors 30 to 60 years old
- Those who have an older policy they no longer need
- Donors who want to make larger gifts, but may have modest resources
|
- Tax receipt for cash value and future premium payments
- Turn pennies into dollars through leveraged gifts
- Membership in the Fiat Lux Legacy Society
|
- Immediate access to cash
- Death benefit if policy is retained
|
- Please consult with the U of L prior to ensure smooth process for receipting or other issues
|
Life Insurance — U of L Named as Beneficiary — Not Owner |
- Whole life or term policy
|
- Donors who may have charitable intent, but have personal/family needs that may change
|
- Estate receives tax receipt
- Membership in the Fiat Lux Legacy Society
|
- Death benefit provided beneficiary is not changed during lifetime
|
- Please consult with the U of L prior to ensure smooth process for receipting or other issues
|
Real estate |
|
- Donors who may have charitable intent, but have personal/family needs that may change
|
- Estate receives tax receipt
- Membership in the Fiat Lux Legacy Society
|
- Death benefit provided beneficiary is not changed during lifetime
|
- Please consult with the U of L prior to ensure smooth process for receipting or other issues
|
Certified Cultural Property (Cultural Review Board) |
- Art
- Artifacts
- Historical Structures
|
- Donors who desire to preserve their valuable items for future generations
|
- Tax receipt based on certified appraisal
- 100 per cent contribution limit
- No tax on capital gain
|
- Immediately added to art collection or archives
|
- Please consult with the U of L, as certain types of gifts may need the U of L's approval before acceptance
|
Other Gift-In-Kind |
- Any tangible property that can be readily accepted and used for the U of L's purposes
|
- Donors with property they no longer need
|
- Tax receipt based on appraisal
- Satisfaction of seeing gift at work
|
- Can be retained or sold for immediate use
|
- Please consult with the U of L, as certain types of gifts may need the U of L's approval before acceptance
|
Interest-Free Loan |
|
- Donors who have an adequate income, but want to retain principal for possible use in the future
|
- Principal revocable at anytime (often predetermined)
- Interest on loan is non-taxable to the donor
|
- Capital for building or investment without interest costs
|
- Please consult with the U of L prior to discuss relevant needs
|
Charitable Gift Annuity (Re-insured) |
|
- Donors over the age of 65 who need or want secure income for life or a term
|
- Income often may be tax free
- Tax receipt for portion of gift
- Membership in the Fiat Lux Legacy Society
|
- Irrevocable gift (portion available after buying annuity)
|
- Please consult with the U of L for gathering quotes and providing receipts
|
Gift of Residual Interest |
- Principle residence
- Other property
- Real estate
- Art
|
- Donors over the age of 70 who might otherwise give the gift through bequest
|
- Tax receipt for present value of residual interest
- Donor continues to use property for life or a term
- Possible tax avoidance on gain
- Not subject to probate
- Membership in the Fiat Lux Legacy Society
|
- Irrevocable future gift of property
- Not subject to probate
|
- Please consult with the U of L for receipting and other issues
|
Charitable Remainder Trust |
- Cash
- Securities
- Real estate
|
- Donors over the age of 70 who want to make a future gift
- Donors who want a tax receipt now
- Donors who want investment income
|
- Immediate tax receipt for present value of remainder interest
- Avoidance of tax on portion or all of capital gains (depending on circumstance)
- Membership in the Fiat Lux Legacy Society
|
- Irrevocable future gift of principal remaining
|
- Complex gift with special tax and legal considerations
- Consult with the U of L, as well as legal and tax advisors
|
Registered Retirement Savings Plan (RRSP) / Registered Retired Income Funds (RRIF) |
|
- Donors with RRSP or RRIF
- Donors with independent children or no children
- Especially suited to a surviving spouse
|
- Satisfaction of knowing that a difference will be made in the future
- Membership in the Fiat Lux Legacy Society
- Can directly designate the U of L as a beneficiary
- Not subject to probate
- Estate receives tax receipt
|
- Can receive a potential substantial gift in the future
|
- Donors can leave other lesser taxed assets to their heirs
|