Leaving a gift is easy and rewarding. There are many ways to do it, including by testamentary bequest, life insurance designation, or the creation of or contribution toward an endowment fund. We ask that you consult your financial advisor to determine the right planned giving option for you. We invite you to email us at email@example.com or call Denis Longchamps, Executive Director directly at 519-746-1882 x231 to discuss more.
Charitable Will Bequests
You can make a gift by will, referred to as a bequest, for a specific sum, or for a share or percentage of your estate. Leaving a bequest in your will allows you to make a charitable donation once your needs and those of your loved ones have been met. Providing a gift to the Canadian Clay & Glass Gallery in your will is also a great way to invest in the future of Canadian artists, make a lasting difference for years to come, and to potentially reduce the taxes owed by your estate. The designated amount can be directed toward the Gallery’s general needs or to a specific cause that matters to you.
For bequest purposes, our legal name is the “Canadian Clay & Glass Gallery” and our charitable registration number is 11883 0256 RR0001. A sample clause may read as follows:
To pay to the Canadian Clay & Glass Gallery (Canadian charitable registration number 11883 0256 RR0001) ___% of the residue of my estate [or the sum of $____________.] This gift is to be used for such purposes and designs as deemed appropriate by the Canadian Clay & Glass Gallery.”
Donate Life Insurance
Donating life insurance allows you to make a significant difference in an affordable way. Depending on how you donate your life insurance, you will enjoy tax benefits during your lifetime or on your estate.
There are three ways to donate life insurance:
- Donate an existing policy, and receive a charitable tax receipt for the net cash surrender value and for any premiums paid after the donation date;
- Donate a new policy, and receive a charitable tax receipt for any premiums paid after the donation date; or
- Assign the Gallery as the beneficiary of your existing individual or workplace insurance policy, and your estate will receive a charitable tax receipt.
Donate Stocks and Securities
Donating public stocks and securities provides donors with significant tax advantages. This includes receiving a charitable tax receipt for the fair market value of the donated security and eliminating taxable capital gains. Excess credit may be carried forward for up to five years if your donation exceeds the amount eligible for a tax credit in the year your donation is made and, if you leave shares, stocks, and securities to the Gallery through your will, your estate will receive the same tax benefits. Donations can also be made online by completing the transfer form here.
Donate to Our Endowment Fund
Donating to the Gallery’s endowment allows you to leave a permanent legacy for yourself, your family, or anyone you wish to honour. Funds donated to the endowment are permanently invested and generate income annually. This income is then used by the Gallery for a special project or purpose you have already discussed with us or will be invested in the growth of the Gallery and support of Canadian artists. To make a donation to our endowment fund, click here.
Donate Retirement Funds
Including the Gallery as a beneficiary of your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) is a flexible way to give to the Gallery. Your estate will be provided with a tax receipt for the value of the investment gifted and applied toward the final income tax return. By naming multiple beneficiaries in your plan, you can also ensure that loved ones are still cared for while donating to the gallery.
The Gallery welcomes gifts of works of art that can be added to the Gallery’s renowned permanent collection. The Gallery considers whether pieces should be acquired based on our collection-building priorities and guidelines. Among other things, we consider the work’s quality, cultural significance, condition, costs of acquisition, and its connection to our existing collection. When you donate an accepted work of art, you receive a tax receipt for the fair market value of the work based on a current appraisal.
This information is provided for the benefit of individuals interested in making a gift to the Gallery; however, the Gallery is not a source of legal, tax, or financial advice. The information set out above should not be relied upon as a substitute for professional advice. While every effort has been made to ensure that the information is accurate, it may not apply in all situations or in all provinces. We encourage you to consult your family, legal, financial, and tax advisors to determine the right planned giving option for you and invite you to email us at firstname.lastname@example.org or call Denis Longchamps, Executive Director directly at 519-746-1882 x231 to discuss more.