A gift from your estate will strengthen the long-term financial security of Shalom Village and will ensure it can continue to provide the best care and services for residents well into the future.
Legacy gifts can also offer your estate substantial tax benefits while allowing you to make a larger gift to Shalom Village Charitable Foundation than you could on an annual basis. There are several ways you can make a legacy gift, and you could do it now or in the future. The option(s) you choose depends on your unique circumstances and financial objectives.
A bequest is a gift made through your will. It can be stated as a specific amount, a percentage of your estate, or the residue after other bequests, debts and taxes have been paid out of your estate.
Sample bequest wording:
“I give to the Shalom Village Charitable Foundation the sum of $_________ (OR: an amount equal to _____% of my estate) to be used for its general purposes.”
If a bequest gift is designated for a specific purpose, it is in the best interests of the Shalom Village Charitable Foundation that you include a clause releasing the funds for other purposes at the discretion of the Board of Directors of the Foundation should it no longer be possible to direct the funds per the original intent.
You can make a larger gift to Shalom Village Charitable Foundation than you might think possible through a gift of life insurance.
- Designate the Foundation as the owner and beneficiary of a policy and claim a tax credit now for the premiums, or
- Designate the Foundation as the beneficiary and retain ownership, allowing your estate to realize the benefits.
The insurance benefit is paid directly to the Foundation and is separate from your estate, so there are no administrative or probate fees and the gift has no effect on your estate’s assets.
CHARITABLE GIFT ANNUITY
A charitable gift annuity allows you to make a significant gift while at the same time receiving a guaranteed, pre-determined annuity payment. Simply put, Shalom Village Charitable Foundation will use a portion of your contribution to purchase an annuity and use the balance to support our programs and services.
You will receive a tax receipt for the amount retained by the Foundation and a guaranteed stream of income from the balance for you and your surviving partner, either for life or a specified number of years. Ask your financial advisor if this option is right for you.
CHARITABLE REMAINDER TRUSTS
You can create a trust to support the Foundation and receive interest for life, or a set term of years. You are entitled to a donation receipt at the time that the trust is established, and the Foundation will receive the balance remaining in the trust upon your death. A trust can be funded with cash, securities or other investments and will provide tax relief today and create a legacy for tomorrow. Ask your financial advisor for additional information.
RIFFS AND RSPS
RRSPs and RRIFs are taxed as income when an individual dies which can result in the loss of nearly half of the funds to taxation. You can simply designate Shalom Village Charitable Foundation on the beneficiary selection form of your RRSP or RRIF (depending on the financial institution) or you can make a gift in your Will that equals the proceeds of your retirement plan. Your estate will receive a charitable tax credit which can, depending on the circumstances, reduce or eliminate taxes owed by your estate.
Our Possibilities Funds
When you make a donation to Shalom Village you can choose to direct your gift to one or more streams, or one of our Possibilities Funds. This allows you to support the projects and services that reflect your own philanthropic goals.
The projects supported by the Shalom Village Charitable Foundation fall under the following Possibilities Funds:
The Resident Possibilities Fund supports services and programs that directly benefit our residents, such as palliative care, music, art and drama, fitness programs, alternative therapies, and Jewish Life at Shalom Village.
The Staff Possibilities Fund helps us furnish our team with the tools they need to provide the best possible care to our residents. This includes staff education, bursaries and staff appreciation.
A.T. H.O.M.E. Possibilities
The A.T. H.O.M.E. Possibilities Fund includes the physical things that make our house a home, including comfortable furniture and decor, gardens, technology, specialized medical equipment, and vehicles.
When we receive funds that are non-directed or unrestricted, we add them to our Possibilities Wish List Fund, which allows us to address our most pressing needs.
We hope that by providing these guidelines that we can help you better plan your charitable giving.
For more information, please contact Kathleen Thomas at 905-528-5103 ext. 264 or email@example.com.
Thank you for helping us honour our Fathers and our Mothers A.T. H.O.M.E. at Shalom.
Support an Event
In 2014, the Hustle raised over $45,000 to support health and wellness programs and The Club Fitness Centre! The 2013 Annual Ladies Auxiliary Tea raised over $56,000 to support our A.T. H.O.M.E. Possibilities Fund and the redevelopment of the Salon and Spa!
Sponsorship is a great way to connect with the community and support a great cause that directly benefits our wisest community members. This is also a fantastic way to demonstrate your organization’s altruism and highlight its commitment to bettering communities through dedicated support.
Sponsorship is available for all Shalom Village events and there are many levels to choose from to suit your budget and philanthropic goals.
To make a difference in the lives of the elderly in our community through sponsoring one of Shalom Village’s annual events, please contact Kathleen at 905-529-1613 ext. 264 or firstname.lastname@example.org.
Whether it is a new computer or a piece of art, in-kind gifts can have a positive impact on the lives of our residents. We also gratefully accept in-kind gifts for our events (e.g., food for the Hustle or raffle items for our Tea), and consider items for our synagogue, as well as new or gently used items for resident care.
In-kind gifts are recognized by Shalom Village at their appraised value (approved appraisal provided by donor), and tax receipts are issued.
In-kind gifts can also include:
- New merchandise
- Sentimental, pre-owned items such as jewellery, musical instruments, and religious items
- Real estate
Unfortunately, Shalom Village cannot accept all previously owned items. Please call us before bringing items in. We are happy to work with you to find suitable in-kind gift!
To discuss a donation, please contact Kathleen at 905-529-1613 ext. 264 or email@example.com.