Plan Your Gift

If you have decided to make 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. Since there are many methods of establishing your gift, it is good to involve the Foundation in consultation with 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 Lutheran Foundation Canada 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’, transferring them directly to the Foundation’s brokerage account, using our Share Transfer Form.

Gifting Your RRSP/RRIF

Large retirement accounts grossly affect the amount of tax paid by your estate. 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 time 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. You can either name a charitable organization in the beneficiary clause, or transfer ownership of the policy to the charity. The first method provides a charitable receipt to your estate; the second method provides you with an annual receipt for the premiums you pay. 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 Lutheran Foundation Canada can accept it. An 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. For the Foundation 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 the Foundation, all gifts in kind must be able to be converted into cash. Contact Lutheran Foundation Canada to learn more.