Planning a legacy gift
Legacy or planned giving is one of the most thoughtful and effective ways to support Camosun College. It gives you:
- Satisfaction - knowing you're giving back to one of your favourite organizations
- Peace of mind - ensuring your lifetime financial matters are resolved as you wish
- Convenience - knowing your investments and giving choices are all taken care of
Options
Lifetime Gifts
- Cash – donate cash any time in honour or memory of a loved one
- Life Insurance - name Camosun as the owner of a life insurance policy and receive a formal tax receipt for the annual premium payments, or name the College as a beneficiary and your estate will receive a tax receipt for the amount of insurance proceeds
- Securities - donate shares, publicly traded stocks, bonds, mutual funds, futures and GICs reducing your capital gains
Deferred Gifts
- Bequests - remember Camosun in your will with a bequest of cash, securities, real estate, life insurance or other assets
- RRSPs & RRIFs - donate unused portions of your RRSPs or RRIFs and receive a charitable donation receipt for the amount of the RRSP or RRIF, offsetting any taxes owed
- Annuities - create a charitable gift annuity and you will receive guaranteed annuity payments throughout your lifetime. The portion of the gift not required for the purchase of the annuity is retained by the Foundation and give you an immediate tax benefit
- Endowments - create an endowment in your name or in memory of a loved one, that provides ongoing investment income for student financial assistance or college operations
- Trusts - establish a charitable remainder trust that retains income interest for your life and/or your beneficiaries giving you an immediate tax benefit. When the trust is terminated, the remaining assets go to the Foundation
- Residual Interest – transfer the residual interest in your residence and retain the right to use the property for life, giving you an immediate tax benefit
Benefits of planned giving
- a meaningful legacy to Camosun College and its students
- immediate tax relief
- reduction of estate taxes
- charitable annuities and trusts can provide lifetime income for you, and if you wish, another beneficiary
- lifetime recognition through the Camosun College Foundation
How to begin
Estate planning and tax laws are complex. We recommend you obtain professional advice from your lawyer, chartered accountant or investment advisor to ensure your financial situation is carefully reviewed and your planned gift is tailored to maximize your tax savings while still meeting your philanthropic wishes.
All inquiries and planned gifts are strictly confidential. For a personal consultation on your planned giving opportunities, please contact:
Sandra Bitz
Advancement Manager
250–370–4237
bitzs@camosun.bc.ca
Jo-Anne Silverman
Advancement Manager
250–370–4234
silverman@camosun.bc.ca
