Planned Giving
Arranging a planned gift to CPAR is a great way to create you or your family’s lasting legacy to building healthy communities in Africa. A planned gift is a gift to CPAR now or in the future that fits with your long-term financial planning and that affirms your long-term commitment to change in Africa.
You have several options to choose from depending on your own unique goals and financial situation. Please contact Dwight Peters, Director of Development at 1-800-263-2727 or (416) 369-0865 ext. 28 or dpeters@cpar.ca today if you have any questions or would like more information.
Endowment Funds
Life insurance
Retirement funds
Leave a gift in your will
Gifts of Securities
Endowment funds
An endowment fund is a permanent fund that generates income that would be used to support CPAR projects or a country that interests you. Your donation establishes a capital fund which is invested in CPAR’s long-term investment pool to earn interest. Each year, the interest would be used to fund the project or sector of your choice. The capital, which remains unspent, generates interest and provides funds to continue to work in partnership with CPAR to overcome poverty in perpetuity.
An endowment fund can take the form of a large one-time gift to CPAR, or it can be cumulative gifts that add up to the dollar amount of the Endowment Fund that you commit to. You may establish an Endowment Fund in your name, your family’s name or in memory of a loved one. A minimum threshold of $10,000 is required to set up an Endowment Fund with CPAR. As stated above, this could a one-time donation or it could be a series of donations according to a schedule mutually agreed to by you and by CPAR. You can decide to let the Endowment Fund grow beyond the size first committed to. You will receive a tax receipt from CPAR for every gift you make. We would be delighted to talk to you about ongoing projects that you would like to support and how your gift could help.
Life insurance
There are several ways you can make a gift of life insurance to CPAR:
- Transfer an existing policy to CPAR and receive a charitable tax receipt for the net cash value of the policy.
- Apply for a new insurance policy, with CPAR as the owner of the policy, and receive a tax receipt each year for the premiums you pay
- Make CPAR the beneficiary of a life insurance policy. This option does not allow you an immediate tax benefit, but your estate will receive a charitable tax receipt for the death benefits paid to CPAR from the policy.
Talk to your lawyer and/or your financial planner if you wish to make a gift of insurance to CPAR.
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Retirement funds
Name CPAR as a beneficiary of your retirement funds such as RRSP’s or RRIF’s and your estate will receive a tax receipt to ease the tax burden on your heirs.
If you are currently enrolled in a Registered Retirement Savings Fund (RRSP) or if you have already converted your RRSP to a Registered Retirement Income Fund (RRIF), you can make a charitable gift of any retirement funds that remain after your death. The benefits to you are that you retain use of the funds during your lifetime and the remainder is transferred to CPAR upon your death. A tax receipt for the full value of the gift to CPAR will offset taxes owed by your estate and any excess donation credits can be carried back to the previous year.
Talk to your financial planner if you wish to make a gift of Retirement Savings to CPAR.
Leave a gift in your will (Bequests)
Leaving a gift in your will to CPAR is one of the most meaningful gifts you can make. You can create a permanent legacy to build healthy communities in Africa when you include CPAR as a beneficiary of your estate. A bequest in your will can offer you a way to make a significant charitable gift that you might not be able to make during your lifetime.
A properly drawn, up-to-date will is your best assurance that your estate will be handled exactly as you wish, designate a guardian for your children, and assign an executor. It can also offer guidance and peace of mind to your family and facilitate the prompt settlement of your estate and the distribution of the assets you have gathered during your lifetime according to your wishes. A will can minimize taxes on your estate and ensure that charitable commitments you have made are honoured.
We suggest that you discuss your planned giving intentions with family members and others close to you. We encourage you to consult your lawyer to discuss the preparation and periodic revisions to a valid will. A financial advisor can advise you on how you can limit your estate’s tax liability.
A gift to a charity such as CPAR is easy to arrange. A gift to CPAR in your will provides a tax benefit to ease the tax burden on your heirs. To leave a gift in your will to CPAR, you do not have to rewrite your existing will. Simply ask your lawyer to add a codicil (appendix) designating “Canadian Physicians for Aid and Relief” (our legal name) as a beneficiary as follows:
(Sample only)
"I give to Canadian Physicians for Aid and Relief (CPAR) currently of 1425 Bloor St W, Toronto, Ontario, M6P 3L6, the sum of $______ to be used at the discretion of the organization."
There are several ways to leave a gift in your will including:
- A percentage of your estate, or a specific dollar amount
- A percentage of the remainder of your estate after other needs are met (also called a residual bequest)
- A share of your estate after your other beneficiaries have passed on (called a contingent request).
- Gifts of specific mutual funds, shares, term deposits, bonds, life insurance or property
- Life Insurance – gift of an existing or new policy
- Gifts of RRSPs and RRIFs
We encourage you to contact a lawyer or financial advisor when planning your will to help you ensure that the wording is according to your wishes.
Gifts of Securities
Leaving a gift of securities is a convenient and financially beneficial way for many donors to show their support for building healthy communities in Africa.
In May 2, 2006, the capital gains tax on donations of publicly listed securities and stocks to registered charities such as CPAR was eliminated in Canada. Publicly listed securities include publically traded stocks, bonds and mutual funds. As a result, when you donate one of these items to CPAR, you will realize two benefits:
- Exemption from Capital Gains Tax: 50% of a capital gain from the sale of stock is taxable. When a stock is donated to a registered charity, the full capital gain is exempt and no tax is owed. The exemption can be applied to income tax returns up to five years after the gift has been made, as with any charitable contribution.
- Tax Receipt: Donations of publically traded securities qualify for a charitable tax receipt for the full contribution amount. The income tax receipt value will be for the closing trading price on the day CPAR receives delivery of the security
To make making a gift of securities to CPAR, just follow these steps:
- Contact CPAR to discuss your plans prior to the actual transfer of shares. Your contact person is Dwight Peters, Director of Development, 1-800-263-2727 or 416-369-0865 ext. 28, dpeters@cpar.ca
- We will inform you of our brokerage account details to facilitate the transfer of the shares.
- Complete the CPAR Share Transfer Form and fax it to CPAR at 416-369-0294 to the attention of Dwight Peters.
- Instruct your broker to transfer the shares to the CPAR account.
- You will be issued with a tax receipt two to three weeks after closing date of the sale of the shares. The value of the tax receipt will be the value of the stocks at the closing price on the day CPAR receives delivery of the security.