Charitable Gift Annuity
Increase your income, save tax dollars and make a charitable gift, too! It may sound too good to be true, but all three can be accomplished with the TWU Charitable Gift Annuity. The Gift Annuity is a financial agreement in which you make an irrevocable donation to Trinity Western University, and in return you receive a fixed income for life.
BENEFITS TO YOU
- Much of the income from the gift annuity is tax free & payments are guaranteed;
- You receive a charitable tax deduction for a portion of the annuity;
- Joint gift annuity payments continue for both you and your spouse's lifetime;
- A gift annuity is not part of your estate, thereby avoids probate costs and federal taxes.
Charitable Remainder Trust
The Charitable Remainder Trust is an agreement which works well with gifts of highly appreciated assets. By transferring the asset to Trinity Western for a Charitable Remainder Trust, you:
- Avoid capital gains tax;
- Receive a tax deduction based on the present value of the asset;
- Choose the return and length of time you wish to receive income from the trust.
- Have no investment responsibilities and can designate how you wish the gift to be used at maturity.
Gift in kind
Do you have equipment or other materials that you think the University could use? Do you have a valuable collection of books, art, or other artifacts, or vehicle? Gifts of value will be accepted by the University, and a tax receipt will be issued for the independently appraised value of the gift.
For people starting policies—or those who’ve had them for years—making TWU the owner and beneficiary is a profitable option. Your policy keeps increasing, and you automatically receive a charitable receipt for the cash value as well as for the premiums you pay. If you'd like to hold on to a portion of the policy for your family or other beneficiaries, you can designate any percentage of the policy towards TWU, and receive a deduction for that percentage. These planned gifts don’t require any extra cash from you and increase your tax deductions.
Leave a legacy. Gifts honouring family and friends can be made at any time, for any occasion. A tree, a park-bench, a scholarship or a building- the possibilities are endless-and tax-effective.
A memorial scholarship at Trinity Western ensures your loved one will be remembered for generations to come--and helps make it possible for deserving students to receive a quality TWU education. As a scholarship patron, you'll have the opportunity to meet the student whose life you've impacted at our annual Legacy Reception & Brunch.
Memorial gifts include, but are not limited to, the Walk-of-Faith (engraved bricks), park benches, rose bushes, clocks, and other special collections. Recently, Trinity Western has added a memorial bench opportunity to their host of memorials. On any given day, students can be seen reflecting, conversing, and studying while sitting on new, beautifully landscaped benches that grace the Trinity Western University campus. These benches are being strategically placed around the campus, giving refuge and times of reflection for our students, while at the same time bringing the memory of a loved one to life.
For people who have much of their finances tied up in investments, securities are an ideal way to make a donation. You’ll receive a tax receipt for the market value at the time TWU receives the shares, defined by Revenue Canada as the closing price on the date the gift is made. A gift of securities has great tax benefits—especially if the shares have appreciated significantly.
Spending of funds is confined to programs and projects approved by the University. Each restricted contribution designated towards such an approved program or project will be used as designated with the understanding that when the need for such a program or project has been met, or cannot be completed for any reason determined by the University, the remaining restricted contributions will be used where needed most as determined by the University.
FOR MORE INFORMATION ON ANY OF THESE GIVING OPTIONS, CALL US AT 604.513.2033 OR EMAIL INGA WARNOCK, EXECUTIVE DIRECTOR OF INVESTMENT & STEWARDSHIP AT WARNOCK@TWU.CA