Plan Your Gift

If you have decided to leave a charitable gift to support the Lord’s work, you have already accomplished a great first step. As Christians, we understand the importance of stewardship and sharing our blessings with others. The planning part will help you make use of important gift structures, legal and tax strategies to maximize your gift, support worthy causes, and increase the size of your gift compared to normal cash giving. Since there are many methods of establishing your planned gift, it is good to involve LFC and your other professional advisors.

Gifts of Cash

Cash is one of the simplest ways of establishing a charitable gift. You can give directly to the ministry of your choice, or you can give through LFC and have us distribute your gift immediately or over time. You will receive an immediate tax receipt for the full value of your gift.

Donating Your Securities

Publicly traded securities that have appreciated in value are a tax efficient method of establishing your charitable gift. Eliminate capital gains tax by donating your shares or mutual fund units ‘in kind’ directly to LFC.

Sharing Your RRSP/RRIF

Retirement accounts are the most heavily taxed assets you own. Naming a charity as the beneficiary of your RRSP or RRIF is a great way to eliminate the tax on these assets.

Leaving a Gift in Your Will

Creating a gift in your will is a simple and effective way of leaving a legacy, while at the same preserving your assets for your use in your lifetime. Typically, a gift in your will can be substantially larger than any gift during your lifetime.

Gifts of Life Insurance

Life insurance is a wonderful way to establish your charitable gift. Depending on how you do this can, it give you tax benefits either in your lifetime or through your estate. Gifts of insurance will go to a charity quicker than gifts through an estate.

Gifts of Farmland or Real Estate

In the right circumstances, a donation of land or property can create a substantial charitable gift with significant tax benefits. You can give the property outright, place it in trust to retain the use of it for life, or gift it through your will.

Gifts in Kind

In certain circumstances, gifts ‘in kind’ like jewellery, personal collections, vehicles, and equipment may be acceptable as a charitable gift. It is important to understand that any gift in kind must have a fair market value assigned to it before LFC can accept it. A FMV is normally the highest price, expressed in dollars, that the asset would bring in an open and unrestricted market less any advantage the donor receives for making the gift. In order for LFC to issue a tax receipt for any gift in kind, we may require the assistance of an independent professional appraiser. Unless the gift is specifically needed by LFC, all gifts in kind must be able to be converted into cash. Contact LFC to learn more.