Through its many local projects and initiatives, the Metchosin Foundation aims to advance environmental protection, stewardship, and education.
The Foundation is grateful for donations and bequests that further our work. You can donate here.
Five ways you can help are:
- Donation;
- In-kind gift;
- Legacy and/or bequest;
- Naming the Foundation as beneficiary of an RRSP or a life insurance policy;
- Charitable trust.
As the Foundation is a registered charity with the Canada Revenue Agency, donations are tax deductible
1. DONATION
Your financial support is gratefully appreciated. Your funds help to create legacies that last far into the future, in conservation and stewardship that will protect wild species and special places in perpetuity.
You can give a donation on behalf of yourself, you can give a donation on behalf of someone as a gift, and you can even direct your donation to a specific project.
Charitable donation receipts for tax deduction are issued by the Metchosin Foundation for all donations received by Interac or cheque for values over $20. Charitable status number: 81576 1556 RR0001.
2. In-Kind Gifts
The Foundation gratefully accepts gifts of property and securities.
If you are contemplating making an in-kind gift of property or securities, please contact the Metchosin Foundation directly, to ensure that arrangements can be made with sufficient lead time, thus ensuring optimum support for donor tax planning objectives.
3. Legacies and Bequests
- A general bequest for a specific sum of money. “I give to The Metchosin Foundation the sum of ($XX).”
- A specific gift of tangible assets such as stock, proceeds of an insurance policy, a RRIF or RRSP, property or possessions. “I give to The Metchosin Foundation (XXX shares of ABC stock).”
- A ‘residual’ bequest, designating all or a specific portion of what remains after all debts, taxes, expenses and other bequests have been paid. “I give (X%) of the residue of my estate to The Metchosin Foundation.”
- A contingent bequest. “In the event that my wife does not survive me, I give to The Metchosin Foundation the following (amount of cash, property or percentage of residual estate.”
- A ‘failed’ bequest. “In case any bequest made by this Will shall fail, the property so bequeathed is to go to The Metchosin Foundation.”
- A bequest to take effect after a lifetime beneficiary has passed away. “Upon the death of (my wife, brother, etc.) the remainder of my estate shall be paid to The Metchosin Foundation.”
- A beneficiary of the last resort. “In the event that there is no beneficiary alive at the time they are entitled to receive a share of my estate, then the shares of the estate that they would have been entitled to receive shall go to The Metchosin Foundation.”
In addition, when naming the Foundation as a beneficiary in a will, it is important for the will to state the full legal name and charitable registration number of the Foundation, which are as follows:
Legal Name: The Metchosin Foundation Charitable Registration Number: 81576 1556 RR00011
4. Beneficiaries of Life Insurance or RRSP
It is also possible for donors to designate the Foundation as a beneficiary of their life insurance policies, RRSPs or RRIFs.
In the case of life insurance, the donor still maintains control of the policy through his or her lifetime, but the Foundation collects proceeds from the policy upon the donor’s death.
Similarly, donors may manage their RRSPs and RRIFs in any way they wish while they are alive. The Foundation only collects any proceeds from the donor’s RRSP or RRIF upon the donor’s death.
5. Charitable Remainder Trust
Donors can also donate to the Foundation using a charitable remainder trust (or CRT). A CRT is a trust into which the donor can transfer property, while naming the Foundation as the trust’s beneficiary.
The donor then retains the beneficial title to the income interest in the property, and thus receives all of the income generated by the property during his or her lifetime, while the Foundation holds the beneficial title to the capital interest in the property. The CRT will hold the legal title to the property.
After the donor’s death, the donor’s income interest in the property will terminate, and the Foundation will continue to hold the capital interest.
As in other types of donations, the donor receives a tax credit for the value of the property upon placing the property in the CRT. This allows the donor to continue to receive income from property during his or her lifetime while also receiving an immediate tax credit for the donation of this property to charity.
A disadvantage to the CRT is the costs involved in creating and managing the trust. A CRT is more appropriate for property donations of substantial value in order to justify these costs. It is very important to consult with a lawyer in order to discuss the implications of placing property in such a trust.