Giving
Options and Gift Planning
For clients considering making a charitable gift, it’s useful to know that the ways they can donate are virtually limitless. Donors can give as much or as little as they want.
Here is a list of the most common types of gifts accepted by the Community Foundation of Ottawa. For detailed information on each type of gift, please click on the following links. Brief descriptions are below.
Making a gift of cash is a simple way to make a donation to a Community Foundation fund. This type of gift can include cheques, money orders, and online credit card payments, which can also be set up as pre-authorized regular contributions. These gifts qualify for maximum charitable benefit under federal law.
Donating appreciated securities to the Community Foundation allows you to eliminate capital gains tax and receive an immediate tax receipt for the market value of the securities. To donate securities, please complete this online form describing the securities you wish to donate.
Over the years, the Foundation has accepted many bequests. Bequests can be in the form of a specific amount or the residue of an estate. The Foundation can provide suggested wording for a will which should be reviewed with a professional advisor. Donors of bequest can receive a substantial reduction in federal gift and estate taxes.
The Community Foundation may be designated as the beneficiary of a life insurance policy. A tax receipt will be issued upon receipt of the proceeds of the policy at the time of death.
The Foundation may also be assigned ownership of a life insurance policy during a donor’s lifetime. A tax receipt will be issued for the cash surrender value of a policy at the time of donation. The payment of annual premiums is also a gift that generates an official receipt for income tax purposes.
An individual can donate all or a portion of an RRSP or RRIF during their lifetime with no tax consequences. The Foundation may also be made a beneficiary of the RRSP or RRIF, which the Foundation will receive upon an individual’s death.
For more information on these or any other giving options, please contact Bibi Patel 613-236-1616 x 226.
Gift Planning Matrix
This useful chart gives a summary view by type of gift, outlining the features and benefits of each.
