Thank you for your consideration in supporting Community Living Parry Sound. Your donation will ensure that people with developmental disabilities can live in their community under conditions that encourage personal growth and promote participation as valued and contributing citizens.
Charity – the joy of giving
Charitable giving supports the worthy causes you care about. Ideally, your gift should help your charity while minimizing your taxes and other estate fees and preserving your legacy. Here’s how you can make the most of your charitable giving.
Name a charity as your beneficiary This is your simplest option: In your will, simply leave a bequest of money or a gift in kind (such as securities or artwork) to a recognized charity. Your estate will receive a charitable donation receipt that could reduce the income tax on your final return and perhaps the immediately preceding return as well.
Establish a Donor Advised Fund You will receive an immediate tax receipt for all contributions made to the fund while retaining the right to advise as to which charities are to receive your fund’s income.
Establish a Charitable Remainder Trust This irrevocable trust holds assets such as cash and mutual funds. The interest and dividends are paid to you as taxable income. At the time of your death, the trust assets – known as the “remainder” – go to your designated charity. When you establish the trust, you will receive a donation receipt for the ‘remainder interest’ of the trust.
Donate a life insurance policy while you live You will enjoy certain tax credits and your charity will receive the total death benefit under the policy.
Donate publicly funded stocks or securities You will get a tax receipt for their full value and will not pay tax on the capital gains of the donated securities.
Establish a Charitable Life Annuity Set up the annuity for yourself, or for you and your spouse, and receive a lifetime income from the assets. Much of the annuity cash flow is tax-free and you will get a charitable receipt for a portion of the donations based on the amount of annuity income you receive and your life expectancy.
Establish a Private Foundation When you make a substantial donation, establishing a foundation allows your name or family’s name to be permanently associated with the cause you’ve chosen.
To be sure you give and get the most from your charitable giving plan, talk to your legal and professional advisors
This column, written and published by Investors Group Financial Services Inc. (in Québec – a Financial Services Firm), and Investors Group Securities Inc. (in Québec, a firm in Financial Planning) presents general information only and is not a solicitation to buy or sell any investments. Contact your own advisor for specific advice about your circumstances. For more information on this topic please contact your Investors Group Consultant.
As a registered charity with the Canada Revenue Agency, your charitable donations are tax deductible. You can click here to calculate your tax credit based on the donation amount, and learn more about charitable donations tax credits.
How to Donate
Make donations online via PayPal. Simply have your credit card information ready to create a PayPal account or use your existing account to make a donation. PayPal is a trusted and secure payment application that will keep your personal information safe and secure from any threats.
You can donate to CLPS by mail via a personal or business cheque. Click Here for a donation form which can be printed and mailed into CLPS.
Stop by in person to CLPS, 38 Joseph Street, Parry Sound, and speak to our Receptionist.