Other Planned Gifts

Innovative ways to continue to support Indigenous youth.

Charitable Gift Annuity

A charitable gift annuity is an attractive way for individuals aged 70 and above to donate to Outside Looking In while receiving an income stream for life. It is an arrangement where you transfer funds to Outside Looking In for a commercial annuity to be purchased on your behalf with 75% of the funds, while donating 25% to support our work. The income stream from the annuity is determined by your age and the annuity you select.

 

Benefits include:

  • An increase in your current after-tax spendable income

  • A fixed and guaranteed income stream

  • No investment management required once the annuity is set up

  • A significant portion, if not all, of the income from a gift annuity is tax-free

  • A charitable tax receipt for the donation component

Charitable Remainder Trusts

A charitable remainder trust is a philanthropic tool where Outside Looking In is given a future monetary benefit, while you receive the immediate tax benefit in respect of the charitable contribution. You can establish an irrevocable trust to support Outside Looking In's work using cash, bonds, securities, real estate or other tangible assets.

 

Benefits Include:

  • You receive an immediate donation tax credit upon the creation of a charitable remainder trust.

  • The charitable donation for donation tax credit purposes is the net present value of the remainder interest in the trust.

  • Outside Looking In would issue a donation receipt for the fair market value of the residual interest at the time the property is transferred to the trust. This enables you to offset your income in the year of the transfer and/or any of the following 5 years.

Life Insurance Gifts

A gift of life insurance is a simple yet extremely impactful way to make a significant gift to Outside Looking In. You can:

  • Purchase a new life insurance policy and name Outside Looking In as the beneficiary and owner. Premium payments will be eligible for charitable donation receipts.

  • Donate an existing policy. Outside Looking In will have to assess the fair market value of an existing policy using an independent actuary. A charitable donation receipt will be issued for the assessed fair market value.

  • Name Outside Looking In as a beneficiary on your life insurance policy. Upon your death, the proceeds from the policy will be paid to Outside Looking In and your estate will receive a charitable tax receipt.

Residual Interest Gift

A residual interest gift is an arrangement where you irrevocably give real estate or personal property to Outside Looking In while retaining the right to use the property for life or for a term of years.

 

Benefits Include:

  • As a donor you retain the right to use the property with the ability to continue using it as before, with no impact on your lifestyle. If married you could retain use for your lifetime and also for the lifetime of your surviving spouse. Alternatively, use could be retained for a certain period of time.

  • When the property’s title passes to the organization (with your life or other interest registered on title), you receive an immediate donation receipt for the present value of the donated residual interest.

  • If the use of the property is retained by you only, or by you and your spouse, you must recognize only the portion of the capital gain allocable to the donated residual interest. There is no taxable capital gain when you give a residual interest in a principal residence.

  • The gift removes the donated property from your estate, resulting in lower probate and other estate-related fees in the future. Also, your wishes are less susceptible to challenge by heirs than if you had made a bequest.

Gift of Securities

Publicly traded securities include stocks, bonds and mutual funds containing stocks listed on approved stock exchanges. They make excellent charitable gifts. They are liquid and are usually easy to value. And, the tax incentives are very attractive.

 

Benefits Include:

 

  • You can choose to see the impact of your gift right away or decide to set it up as a legacy gift.

  • You receive an immediate donation receipt for the full fair market value of the donated securities.

  • You eliminate capital gains tax by donating your appreciated securities directly to Outside Looking In.

  • Many financial institutions will waive fees for charitable transactions.