The Faculty of Education receives gifts each year, often established in a donors will. These funds establish lasting and significant legacy gifts for the future.
The following is a list of some of the more popular methods of giving estate gifts. I would be pleased to meet with you to discuss some of these options, or, if you prefer, you can set up a confidential meeting with our professional gift planning team.
Bequests and Wills
You can choose to leave some or all of your estate to the Faculty of Education. This could include cash, investments, property, real estate or other assets of your estate. By indicating your wish to donate in your will, you can make a substantial future gift that will not affect your current lifestyle.
A bequest is often referred to as the "Ultimate Gift" because it is a gift of cash or property that an individual makes in their will, and usually takes one of the following two forms:
- An unrestricted bequest allows the Faculty of Education to use the donor's gift where it is felt to be needed most.
- A restricted bequest is a gift with a specific purpose. The donor may specify the gift be used for a particular area of interest (i.e., named scholarships, named bursaries, endowments, or research). Restricted gifts may be endowed in perpetuity or may be directed to serve a one-time purpose.
Gifts in Kind
Do you have a valuable collection of books or memorabilia? Are you able to donate equipment or other supplies that the Faculty of Education could use? If so, you can make a Gifts-in-Kind donation. Gifts-in-Kind are eligible for the same tax benefits and recognition as other gifts; however, the gift must undergo an assessment procedure at which time a tax receipt will be issued.
You may give a gift of real property. Real property includes residential and commercial real estate, developed and undeveloped land, and farmland. Such gifts may be used to either enhance current programs or alternatively may be converted to cash proceeds to be used for purposes designated by the donor. Gifts of Real Property can be made either through the Donor's Estate or during their lifetime.
Residual Interest Trust
This type of gift occurs when an individual irrevocably gifts a piece of property to a charity, usually real estate or art work, but retains the right to use that asset for the rest of the donor's life or for a specified period of time. Fair Market Value of the property is determined at the time of the gift.
Insurance policies enable you to make a significant, lasting gift to the Faculty of Education, with a minimal outlay of current savings or income. Making the Faculty of Education the beneficiary OR the beneficiary and owner of an insurance policy will provide different benefits to the donor.
By making the Faculty of Education the beneficiary of a policy, your estate will be issued a charitable gift receipt provided the policy is included in your Will. The proceeds from life insurance policies may be directed to the Faculty of Education project or fund you have personally selected.
By taking out a new life insurance policy with the Faculty of Education designated as the beneficiary and owner, you will receive a charitable gift receipt for the policy premiums you pay each year. By indicating your wish to donate in your will, you can make a substantial future gift that will not affect your current lifestyle.
For more information, please contact the Gift Planning Team:
Phone: (780) 492-0332
Toll Free: 1-888-799-9899
Thank you for your generosity