OTHER DONATION OPTIONS
Depending on the type of donation chosen, each option comes with different benefits to the donor and NIGEL. Here is a list of the options and benefits:
Cash Gifts
This can be arranged to any existing fund or programme at NIGEL, or it may be used to establish a named endowment. It can be made through a lump sum or through convenient monthly donations.
We can also arrange ongoing monthly donations via credit card or automatic bank withdrawals. Bi-weekly payroll deductions are also an option. Donors can choose to have their tax receipts mailed to them monthly or annually.
Gifts-In-Kind
Valuable collections such as works of art, rare books, paintings or antiques can be subject to estate taxes. By donating such objects now, you can reduce your taxable estate and reduce your taxable income the year the gift is made. The amount of the charitable donation receipt issued is based on the fair market value of the property on the date of the gift.
Life Insurance
A new or existing life insurance policy donation provides the opportunity to make a substantial contribution for the future, with a monthly or annual payment today. It may be seperate from your estate and not subject to estate or trust costs. Premium payments or cash surrender values of such policies earn charitable tax credits, which saves tax dollars.
Life insurance can also be used as a form of wealth replacement for family or business. This enables making a gift from the estate without diminishing the legacy to other personal interests.
Major Gifts
High impact major gifts, usually serve to fund larger key initiatives that have immediate needs. These meaningful gifts for which donors are remembered are used to fund new buildings, acquire key equipment, assist residents, or support key projects.
Another focus for major gifts involves the creation of permanent endowment funds, held in perpetuity. Major gifts are invested in NIGEL's endowment fund whereby annual interest generated by the fund is used to support projects or causes in which donors believe in.
Donors of major gifts can have an enormous impact on the development of the Facility in areas of personal interest to them. In addition to having the satisfaction of giving back, they also leave a legacy of new opportunities for future generations.
NIGEL recommends you seek professional legal, estate planning and financial advice before making any major giving donations.
Matching Gifts
If you work for a matching gift company, you may be eligible to double or even triple the value of your gift to NIGEL. Check with your firm's Human Resources Department to find out if they will match your gift.
Planned Giving
For many people and organizations that feel they have benefited from being a part of the community, planned giving is one way in which they can provide support to NIGEL that continues after they've passed on.
Charitable gift planning provides a significant future donation without investing large sums of money. Gift planning also optimizes significant tax savings and estate planning, enabling larger gifts that donors may not have thought possible.
NIGEL recommends you seek professional legal, estate planning and financial advice before making any planned giving donations.
Public Traded Securities
A gift of publicly traded securities transfers ownership of stocks or bonds to NIGEL. This type of gift provides significant tax advantages as only 25% of the capital gain (half the regular inclusion rate) will be included in your income. The charitable tax receipt will not only offset the capital gain tax payable, but other income as well. Similar tax advantages exist for gifts of stocks received through stock options.
RRSPs & RRIFs
You can donate the proceeds from your registered retirement savings plan (RRSP) or registered retirement income fund (RRIF). The charitable tax credit may offset the tax otherwise payable upon distribution.
Real Estate
A gift of real estate will result in a donation receipt for the fair market value of any property. The most attractive aspect of this donation is that you can give a gift of land today, while retaining a residual or lifetime interest. This allows you to enjoy the use of your property for as long as you live and receive a tax receipt for your donation.
Residual Interest
A residual interest gift enables you to make a gift of property, such as real estate or artwork, and retain the use of that property during your lifetime. You would be entitled to a donation receipt for the present value of the residual interest given to NIGEL.
Strip Bonds
A strip bond enables you to make a larger gift on a discounted basis now. You will receive a donation receipt for the market value of the bond at the time it is given. NIGEL benefits from receiving either the market value of the strip bond now or the redemption value later. A strip bond is an alternative to a gift of life insurance where securing a policy is not desired or possible.
Wills & Bequests
A will can be used to make a charitable bequest that may specify a sum of money, an asset, or a portion of your estate to be donated to NIGEL. Charitable tax receipts issued to your estate can then offset taxes on your income in the year of your death and in the previous tax year. Types of bequests include:
- Residual: A gift of all or a percentage of what remains of the estate after paying other bequests and expenses.
- Specific: A gift of a specific amount of money or of a particular property.
- Contingent: A gift that takes place only if the donor is not survived by stated beneficiaries or if the other stated conditions are not met.
Naming Opportunities
Depending on the level of donation, an array of naming opportunities exist for donors who wish their name, or the name of a loved one, to be permanently recognized at NIGEL. Donors may include individuals, businesses, community groups, service clubs, professional/fraternal associations, foundations and other supporters.
Naming opportunities are available at many levels and may include:
- Endowments
- Resident Rooms
- Key NIGEL activity rooms
- Buildings
- Programmes
- Event sponsorship
Get Involved!
We're looking for individuals to organize third party fundraising activities and initiatives with Victoria's many community groups and businesses.
