How You Can Help » Planned Giving
You can help ensure that the children of abuse will always be provided with the "extras" that they so deserve. At the same time you can benefit by seeing your taxes significantly lowered.
You can arrange a legacy for the Kawartha-Haliburton Children's Foundation by gifting stock, an insurance policy or annuity, or by naming the Foundation as a beneficiary in your will or trust.
Your legacy will help create an endowment fund for the children to ensure that they will always receive the support, encouragement and opportunities to build their self-esteem and help them to achieve their goals in life.
The Foundation would not be able to provide these opportunities to the children without the help of our generous donors from the community.
It is recommended that donors consult with their own lawyers prior to making a planned gift or updating their will.
The following is a brief overview of planned giving. If you would like to find out more information please call the Foundation office at 1-800-661-2843 ext. 228 and we will arrange for one of our knowledgeable volunteers or staff to assist you.
Gifts by will and bequests
- A bequest permits you to make a long-term commitment to the Foundation without affecting your present lifestyle
- A bequest is a tax-effective gift in that your estate may claim charitable donations to the Foundation in the year of death equal to 100% of your net income and unused donations can be carried back to the previous tax year at the same higher rate.
Charitable gift annuities advantages
- You will receive a charitable tax receipt
- An annuity is safe and secure
- It is a good alternative to GIC's or bonds as you get the same income guaranteed but with better cash flow and lower taxes on your income
- An annuity allows you to see your gift working for the children of abuse while you are still alive
Donation of stocks
If you donate stocks to a charity you can take a tax deduction. The amount of the deduction depends on how long you have held the stock, and how much it has grown, or declined, in value, over that period.
If you have held the stock for less than a year, the stock is ordinary income property so it is taxed at ordinary income rates. The amount you can deduct then, depends on whether or not the stock has increased in value during the period you have owned it, or declined.
If the stock has increased in value during the time you have held it, you can deduct the basis of the stock. The basis is what you paid for the stock plus any commissions and fees that you paid to purchase that stock.
If the stock has declined in value, during the time you have held it, you can only deduct its fair market value on the day you make the donation. Fair market value is what a willing buyer would pay a willing seller, both having reasonable knowledge of the relevant facts and neither having to buy or sell.
If you have held the stock for more than a year
If the stock is considered long-term capital gains property (stock that has been held for more that one year), the charitable contribution is the fair market value on the date of the donation - as long as your contribution deduction does not exceed 30% of your adjusted gross income.