Types of Gifts
In addition to gifts of cash (cash, credit card, cheque), the Community Foundation of Whistler is also able to accept gifts in the form of publicly listed securities, life insurance, proceeds from retirement plan accumulations, real estate, or tangible personal property (such as artwork).
Gifts of Securities
Publicly traded securities are listed and regularly traded on a public stock exchange. This is the most common form of non-cash gifts and currently receives increased tax benefits. The value of the gift will be the market value on the exchange as determined at the time the gift is received. Download our information document on Making Gifts of Securities.
By giving eligible appreciated stocks to the Community Foundation of Whistler, you can avoid capital gains taxes that would otherwise arise from the sale of the stock.
Gifts of Other Appreciated Property
All other gifts of appreciated property may only be accepted after consultation with the Foundation. The ready marketability of the property and the carrying costs are among the factors in determining the acceptance of the gift.
Gifts of Life Insurance
The assignment of ownership of an existing life insurance policy will be accepted by the foundation. A tax receipt will be issued for the cash surrender value of the value at the time of donation. The payment of annual premiums is also a gift that generates an official receipt for income tax purposes.
Many people who would like to make a substantial gift to charity cannot afford to part with assets during their lifetimes. Drawing up a will and directing a portion of one's estate to charity is a common type of future gift.
Retirement Fund Accumulations
Retirement funds constitute one of the major assets of most people. From time to time and subject to current legislation, the foundation may benefit from leftover retirement funds where there is an advantage in having the charitable tax credit offset the tax on distribution of an RRSP or RRIF.
Other types of less common gifts may also be considered.
We encourage donor to discuss the proposed gift with independent legal and/or tax advisors of the donor's choice so as to ensure the donor receives a full and accurate explanation of all aspects of the proposed charitable gift.