Securities, Life Insurance, or RRSPs
Publicly listed securities
Publicly listed securities are becoming increasingly popular as gifts. Federal incentives, introduced in early 2006, have made it very attractive to donate publicly listed securities that have appreciated in value. Canadians are not taxed on the capital gain when they donate securities to a charity. This compares to a tax on 50% percent of the capital gain if the securities are sold outright. If you own publicly traded securities or mutual funds that have increased in value, you may want to consider donating the securities directly to Compost Education Centre.Should you decide to make a gift of securities to Compost Education Centre, please contact your financial planner and/or attorney to facilitate the process.
A life insurance policy
A life insurance policy can offer another simple way to support the Compost Education Centre.
There are 3 options for donating Life Insurance to a charity:
- You could choose to make The Compost Education Centre the owner of an existing or new policy.
You will receive a charitable tax receipt for the policy’s cash surrender value and for any premiums you pay once ownership is transferred to the charity. Premiums can be paid either to the insurance company or directly to the charity.
- You can name the Compost Education Centre as a primary or co-beneficiary of your policy. This is a good option for donors whose family no longer needs life insurance for financial stability.
- You can name the Compost Education Cemtre as the contingent beneficiary of your policy. If primary beneficiaries predecease the donor, the Centre would receive the proceeds of the life insurance policy.
Retirement funds represent a major personal asset for most donors.Donors enrolled in an RRSP, and those who have already converted their RRSP to a RRIF, can make a charitable gift of all or a portion of any retirement funds remaining at death.Please consult with your financial advisor/attorney if you wish to donate securities, RRSP’s, or Life Insurance, and make your intentions known to your family.