Planned Giving

Charitable giving can combine a sense of personal satisfaction with significant financial benefits through tax credits or, for businesses, tax deductions.  Through planned giving you can support the Women & Children’s Shelter of Barrie. Your gift will leave an enduring legacy that will improve the lives of women and children in the community.

The following information provides an overview of some charitable giving options available to Canadian donors. This is a general guide and does not address the many issues that can apply to individual situations. We suggest you consult with your legal and tax advisors to clarify the tax implications of planned giving and to structure the gift to ensure it meets your goals before finalizing a significant charitable gift.

Please call and speak with the Community Development Coordinator at 705-728-6300 ext 229 if you would like to leave a planned gift to the Women & Children’s Shelter.

Bequests

A charitable bequest is a gift in your Will that the Women & Children’s Shelter of Barrie receives after your death. Remembering someone in your will is a very personal and meaningful gift.  Consult with Women & Children’s Shelter of Barrie before establishing your bequest to ensure your wishes can be carried out as directed in your Will.

RRSP or RRIF

Insurance is one of the most flexible planned giving options available.  You can make the Women & Children’s Shelter a beneficiary of your insurance policy or retirement fund.  All or a portion of an RRSP and RRIF can be designated directly to the Women & Children’s Shelter of Barrie for payment following your death.  Assets can be transferred directly to the agency, providing savings on probate and other estate fees.  It is also possible to make the RRIF or RRSP payable to your estate and to gift all or a portion to Women & Children’s Shelter of Barrie as a bequest.

Life Insurance

By using life insurance, you can make a significant gift to the Women & Children’s Shelter of Barrie with a minimal outlay of current savings or income.  There are many ways that life insurance can be used to structure charitable gifts, but here are the two most popular:

You can donate a new or existing policy by transferring ownership to the Women & Children’s Shelter of Barrie.  Upon transfer, the agency will issue a charitable tax receipt for the cash surrender value.  In addition, you will receive a charitable tax receipt for any premium payments you make following the transfer if the policy is not yet fully paid for. This gift is irrevocable and creates tax benefits for you during your lifetime.  Therefore, your estate will not receive a charitable tax receipt when the policy proceeds are paid to the Women & Children’s Shelter after your death.

Alternatively, you can designate the Women & Children’s Shelter of Barrie as the beneficiary of a policy without transferring ownership of the policy. On your death, the agency will receive the policy proceeds and your estate will receive a charitable tax receipt.  In this situation, your premium payments are not eligible for a charitable tax receipt. The policy proceeds will go directly to the Women & Children’s Shelter of Barrie and will not be subject to probate and other estate fees.  The beneficiary designation is revocable and can be changed at any time.

Stocks or Securities

Gifts of public shares or mutual funds are a tax effective way of giving if the securities have a capital gain and they are transferred directly to the Women & Children’s Shelter of Barrie. Donating your stocks or securities can decrease your annual taxable income. The donor receives a charitable tax receipt for the full market value of the gifted securities, but for tax purposes none of the capital gain is included in the donor’s income.

Tribute or Memorial

When we lose someone we love we often want to honour their lives and their importance to us through a tribute or memorial in their name.  Make a gift to the Women & Children’s Shelter in memory of a loved one or friend.

Gifts of Tangible Personal Property

Donors can make contributions to the Women & Children’s Shelter of Barrie through gifts of personal property.  An independent appraisal by a qualified appraiser is required for gifts valued over $1,000.  These gifts may be subject to special rules under the Income Tax Act.  It is important to consult with the Women & Children’s Shelter of Barrie as well as your legal and tax advisors to assist you in making an appropriate gift.

Other Special Gifts

There are other types of gifts, such as real estate and private company shares and debt, all of which have special legal and tax considerations.  It is important to consult with the Women & Children’s Shelter of Barrie as well as your legal and tax advisors to assist you in making an appropriate gift.

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