Legacy gifts allow the Special Olympics Canada Foundation to fund important programs across the country and assist us in the training and support of a growing number of Special Olympics athletes and volunteer coaches.
Through your generosity, you have the potential to do something extraordinary for future generations of Canadians living with an intellectual disability.
A planned gift is a very personal decision and we encourage you to discuss it with your financial advisors.
The Special Olympics Canada Foundation will work with your advisors on a confidential basis, to ensure your family’s financial and philanthropic goals are met.
You also have the option to meet with our professional tax and planned giving advisors. They will work with you to ensure your estate planning objectives are realized with tax advantages.
There are many legacy alternatives available. One is right for you. Click on the options below to learn more:
- Gifts by Will
- Charitable Insurance
- Charitable Remainder Trust
- Charitable Gift Annuities
For a confidential discussion about revising your will, donation options, recognition opportunities or exploring various planned giving options please contact Nycki Etherington at 416.927-9050 ext 4388 or by e-mail at email@example.com
Gifts by Will
Bequests are the most common form of planned giving. When your estate is settled, the charitable gift stipulated in your will is forward to the Special Olympics Canada Foundation. Then, your estate is issued a charitable credit for the the full value of the bequest. (note that CRA “Gift by Will” rules need to be followed. The Special Olympics Canada Foundation has in place a panel of professional tax and planned giving advisors to assist and work with you and/or your own professional advisors to ensure that both the intentions of your gift and the most efficient tax advantages commensurate with your estate planning objectives are realized).
Tax regulations for charitable life insurance gifts sometimes make this type of planned gift more beneficial than a cash gift lent through your estate.
Charitable Remainder Trust
A charitable remainder trust can benefit you during your lifetime by providing income, with the capital that remains in the trust going to the Special Olympics Canada Foundation upon your death. At the time you set up the trust, you will receive a tax receipt for a portion of the capital used to set up the trust.
Charitable Gift Annuities
This planned gift enables you to support the Special Olympics Canada Foundation with a substantial gift and enjoy an excellent income for life.
A large portion of the income you receive is tax exempt and all donors qualify for a one time charitable donation receipt for a portion of the donation as well.
Your gift is invested ethically and responsibly by the Special Olympics Canada Foundation and you receive a fixed regular income based on your age and rates in effect when your annuity is arranged.
The income ends when you die and the portion remaining in the Annuity is given to the Special Olympics Canada Foundation.
Joint Gift Annuities can also be arranged.
Anna, a 75-year old widow has a $20,000 savings bond maturing. She wants to re-invest the money but needs retirement income.
Anna also wants to support Special Olympics Canada, so she decides to place $20,000 in a Charitable Gift Annuity.
Based on her age, she receives an annual income of $1,324.00 of which $1,145.69 is tax free. She also receives a one-time charitable tax receipt in the amount of $5,863.99.
She designated that, upon her death, the balance in the annuity goes to the Special Olympics Canada Foundation.