You Are Helping To End Homelessness
All your life you have worked to make a better world for your loved ones and the community. Have you considered a charitable gift in your will as a unique way to provide practical, long-term assistance to the most vulnerable people in our community?
Feel free to give Alan Rycroft or Kathy Stinson a call to discuss your ideas — we’d love to talk. You can also read below for some special gift ideas to consider…
Gifts of Stocks and Publicly Traded Funds
In Canada, there are very good tax benefits for direct gifts of publicly listed securities as no capital gains taxes apply to the donated securities. Cool Aid partners with the Victoria Foundation to process gifts of stocks and mutual funds.
Charitable Bequest in Your Will
Carl Young is helping end homelessness in our community because he left a gift in his will that Cool Aid will use to build new apartments.
If you own a home or other significant assets, you can look after your family and also leave a legacy gift that will benefit Victoria Cool Aid’s vulnerable clients for many years to come. A residual gift provides for the charity a gift after all other obligations in your will have been fulfilled. Some people consider 5% to 10% to charity as a guideline for a will that is primarily meant to benefit family members. You can also leave a fixed amount.
Beneficiary of RRSP, RRIF, TFSA, etc.
Many registered savings accounts, such as your Retirement Savings Plan, allow for a beneficiary to be named. Please consider making Victoria Cool Aid Society one of your standard beneficiaries.
Gift of Life Insurance
Designating the Victoria Cool Aid Society as a beneficiary of your life insurance policy can provide a substantial gift in the future for a relatively low cost each year. Signing over an old or unneeded life insurance policy to Cool Aid is another way of making a tax-deductible gift to help end homelessness.
Support Cool Aid Endowment Funds
Cool Aid Endowment Funds have been established at the Victoria Foundation and the Vancouver Foundation, for those wanting to make a gift that keeps on giving. The Endowments are professionally invested and the returns support Cool Aid programs flexibly and forever. Donations from the USA can receive a US tax receipt when given through the Friends of the Vancouver Foundation.
Other Valuable Assets
Assets in many forms such as cash, precious metals, artwork, jewelry, business assets, intellectual property, etc. can be left in your will, or given to the Victoria Cool Aid Society. Tax receipts can be issued for most such gifts. Feel free to call us to discuss your creative ideas.
Trusts and Annuities
Trusts and annuities can have significant tax benefits, providing an opportunity to set aside a gift of cash, securities or real estate for the Victoria Cool Aid Society, while you receive a guaranteed annual income during your lifetime. There are many different types of trusts and annuities and you will want to consult a professional advisor before making your decision.
It is a good idea to consult your partner and family about special gifts. As well, Cool Aid recommends you speak with your lawyer, financial advisor or accountant before making any large gift, to ensure that you or your estate is receiving the best possible tax benefit. Maximizing your tax benefits may allow you to make a larger gift, and leave more for your loved ones, than you thought possible.
Please feel free to call us to discuss your giving options and what you want your legacy to accomplish:
- Alan Rycroft, 250-414-4781 or arycroft@CoolAid.org
- Kathy Stinson, 250-414-4792 or kstinson@CoolAid.org
Victoria Cool Aid Society, 102-749 Pandora Avenue, Victoria BC, V8W 1N9