Cash Donation of any amount are the most common form of donating at our foundation.
Gifts of real estate or personal property may be accepted by the foundation depending on certain factors such as its ready marketability and the carrying costs of the land. Fair market valuations for such gifts must be established to meet the satisfactory qualifications of the Canada Revenue Agency.
A gift of publicly traded securities, such as stocks, bonds or mutual funds, can save you a considerable amount in capital gains taxes. If your securities have increased in value since you purchased them, 50% of the gain is taxable. Since 2006, however, you will not have to pay any capital gains tax on the donation of securities to a charity, such as the Foundation. Discuss this idea with your financial advisor who should have the necessary forms.
A donation to the Foundation through your Will is an alternative option to make a charitable contribution as your legacy. We recommend that you speak with your lawyer about preparing a donation of this kind.
A Charitable Remainder Trusts is an arrangement in which you irrevocably transfer assets (cash, securities, property) to a trustee during your lifetime. You keep the right to the income from the trust either for your lifetime or for a specified number of years. After that time, the assets are transferred to the Foundation. We recommend that you speak to your lawyer to discuss this option.
Give money (or x% of the residue of my estate) to the North Shore Community Foundation through the PO Box at 37104 Lonsdale, North Vancouver, BC, V7N 4M0.
After passing, any funds in your RRIFs or RRSPs will be taxed if there is no named beneficiary. Naming the North Shore Community Foundation as your beneficiary will provide a charitable donation receipt to offset the tax.