LEAVE A LASTING LEGACY.
There are few better ways to show your dedication to helping alleviate local hunger than with a planned gift. Planned giving is a great way to make a significant and lasting impact and investment to address local hunger. It’s a gift that lasts beyond the donor’s lifetime, and can provide significant tax benefits.
Our planned giving program allows you to make a gift through life insurance, securities, or a bequest. Take a look at the different options below, and contact us to learn more.
The Gift of a Bequest
Perhaps one of the simplest ways to make a Planned Gift is through a bequest. Naming the Ottawa Food Bank as a beneficiary in your will allows you to make a larger gift than you thought possible in your lifetime. Additionally, a bequest provides charitable tax credits for your estate so that your loved ones can receive the inheritance you intended.
The Gift of Securities
As you may be aware, cashing in investments such as Shares and Mutual Funds may trigger capital gain tax. Canada Revenue Agency, however, has introduced a way for donors to offset this impact, and realize significant tax savings, by donating shares directly to a charity such as the Ottawa Food Bank. This, therefore, is a beneficial option to selling securities and donating the cash.
The procedure for donating the shares is as simple as transferring ownership of the securities from the donor’s account to the Ottawa Food Bank’s account. This takes only a few days, and the value of your gift is determined by the date on which the securities are actually transferred.
The Gift of Life Insurance
Making a Planned Gift through a life insurance policy allows you to give a larger gift than you thought possible, and provides you with significant tax credits. The Ottawa Food Bank can be made the beneficiary of a life insurance policy and the benefits of that policy go directly to the Ottawa Food Bank upon death. This will allow the proceeds to not pass through your estate, therefore circumventing probate. This entitles your estate to the tax benefit.
“In my volunteer role on the Board I’ve seen firsthand the impact that my donations are making to feed those served by the Ottawa Food Bank,” says Mohr. “The decision to make a planned gift in my will was an easy one, and one that will help families and children thrive in the future.”
"The decision to make a planned gift in my will was an easy one and one that will help families and children to thrive in the future." - Larry Mohr, Past President for the Ottawa Food Bank's Board of Directors