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Gift Options

No matter your circumstance, there are gift options for you to discuss with your professional advisors. Generally, gifts are divided into those that you make in your lifetime and those that will be made after your death, such as a bequest.

Gifts You Can Make Now

  • Gifts of Cash

    Outright gifts of cash are welcomed by all organizations. These are the simplest and most common form of gift, and are greatly appreciated. You will see your gift put to work immediately!

  • Commemorative Gifts

    People who wish to honour other people or commemorate life’s milestones often make donations in lieu of gifts or flowers.

  • Gifts of Securities

    Publicly traded securities include stocks, bonds and mutual funds containing stocks listed on approved stock exchanges. They make excellent charitable gifts.

  • Gifts of Life Insurance

    There are two types of gifts of life insurance: 1) The ownership of the life insurance policy is irrevocably transferred to the Organization, or 2) The organization is named as registered beneficiary to receive proceeds of the policy, but is not the owner.

  • Gifts of Tangible Personal Property
    Tangible property includes art works, books, household furnishings, automobiles, equipment and collections.
  • Gifts of Land & Covenants

    A gift of real estate or certain rights to the land (covenants, easements, servitudes) that are not eligible for ecological gift status or that do not have ecological values may also be valuable to an organization.

  • Ecological Gifts

    Owners of ecologically sensitive private land have the option of making a certified ecological gift (ecogift) to a designated charitable organization and receiving significant tax savings.

  • Gifts of Retirement Funds

    If not needed for retirement purposes, a donation of all or part of your RRSP or RRIF to an organization can be done now or upon death.

  • Split Receipt Gifts

    Split receipting allows for a partial sale and partial gift of property.

  • Gifts of Corporate Shares

    Family businesses constitute a high percentage of Canadian business and account for the majority of new jobs. The entrepreneurs who started these businesses are often community-minded.

Estate & Deferred Gifts

  • Charitable Bequests

    A charitable bequest is a gift made in your will.

  • Gifts of Life Insurance Proceeds

    By retaining ownership of your life insurance policy and naming an organization as the beneficiary of personal or group life insurance, you can create a significant legacy gift.

  • Charitable Gift Annuities

    A charitable gift annuity is an arrangement under which a donor transfers a lump sum to a charity in exchange for fixed, guaranteed payments for the life of the donor and/or another person, or, alternatively, for a term of years.  All or a substantial portion of the annuity payments will be tax-free.

  • Gifts of Residual Interest

    A residual interest gift is an arrangement where a donor irrevocably gives real estate or personal property to a charity while retaining the right to use the property for life or for a term of years.

  • Charitable Remainder Trusts

    A Charitable Remainder Trust (CRT) is a planned gift where a donor irrevocably makes a gift to a charity or charities through a trust agreement. The donor contributes cash, securities, real estate or other investments like term deposits or certificates of deposit to the trust and receives an immediate donation receipt for the present value of the donated remainder interest.

Corporations

  • Gifts by Corporations

    Corporations receive deductions for charitable gifts rather than tax credits. Otherwise, the same tax rules regarding donations apply to both corporations and individuals.

Other Planned Gifts

  • Creation of Private Foundations

    Typically, a private foundation is a foundation which receives most of its funds from a single source, and which makes grants to registered charities.

  • Creation of Endowments

    An endowment is an investment fund set aside for the long-term support of a charity.

Important note

Planned gifts can provide beneficial results for a donor but, in order to ensure that all relevant issues have been considered and addressed and that all Income Tax Act, Canada provisions and regulations are met, prospective donors should seek qualified legal and accounting advice.

Give Green Canada acknowledges and thanks Lorna Somers and Frank Minton for pre-approving the use of their book Planned Giving for Canadians as the basis for the information provided about different types of gifts.