There are several ways to give through the North Thompson Community Foundation.
You can give:
- Cash or Stock Donations
- Bequests and Wills
- Life Insurance
Cash or Stock Donations
Most donors think of giving as a cash transaction and in many cases this is the best way to go. Your Foundation will accept gifts of cash, cheques or credit cards. You can mail a donation to the Foundation, arrange a meeting with a board member, or donate online through Canada Helps by click here or on the button at the bottom of this page.
Your Foundation also offers the option of making automated monthly contributions directly from your bank account.
It is also important to consider the benefits of giving a gift of stocks. Many people have shares in companies that they have been holding for many years. These stocks may have appreciated dramatically so if the donor was to sell them they would pay significant capital gains tax. An alternative is to donate the shares themselves directly to the Foundation. This is called making a donation “in kind”.
The benefit of a donation of shares “in kind” is three-fold:
- You get a tax receipt for the market value of the stocks
- You pay zero capital gains tax.
- The Foundation receives a much larger donation than if you had sold the shares, paid tax, and donated the balance.
Bequests and Wills
Many of our donors feel they can make the greatest impact with a gift in their will. Why would they do this? Every donor will have their own reasons, but the two most common reasons are:
- Legacy: A permanent fund bears your name, or that of someone you wish to remember. If you prefer, it can remain anonymous.
- Flexibility: You can direct the income from your fund to your favourite cause or advise the Board of Directors to distribute it as part of a grant to fund local charitable projects.
It’s important to talk to your lawyer or notary, but feel free to call the Foundation for assistance in developing your strategy on how to have the greatest impact in the community you love.
A charitable gift of life insurance makes good sense.
You can assign an existing policy to the Foundation and claim the cash value as a charitable donation for Income Tax purposes.
You may take out a new policy naming the Foundation as the beneficiary and owner, and claim the annual premiums as a charitable donation.
A life insurance gift does not deprive your family of other estate assets; rather, it separates your gift to the Foundation.
Ask your life insurance professional about a gift to the Foundation. The Foundation will also be happy to provide assistance.