Giving Options
Designate your legacy gift to meet a personal philanthropic interest such as scholarships, bursaries, academic programs, research, or athletics. Many donors will explore ways to begin their giving now and see its impacts, while also arranging a gift by will. For example, creating a scholarship during their lifetime and arranging a bequest to grow their scholarship fund in the future.
An unrestricted gift helps St. Thomas plan for the future and meet the most immediate needs and priorities of the University at the time of the gift's realization.
Typical Planned Gifts
Bequests in a Will
Arranging a gift in your will is the simplest legacy gift to implement. You can give a specific sum of money, property, or a percentage or all the residue of your estate. A bequest may be right for you if you would like to make a gift to St. Thomas you could not otherwise make or to avoid unnecessary taxes on your estate
Sample Will Clause (unrestricted bequest):
I give and bequeath to St. ÐÇ¿Õ´«Ã½ (Canadian charitable registration number: 108043282RR0001) ___% of the residue of my estate [OR the sum of $____________]. This gift is to be used for such purposes as deemed appropriate by St. Thomas
If circumstance makes the specified use of this bequest no longer viable, St. ÐÇ¿Õ´«Ã½ is hereby authorized to make changes in its use keeping as far as possible with the spirit and general intent of the bequest.
Sharing with the University an up-to-date copy of your will or the relevant will clauses helps ensure the future use of your gift reflects your interests and preferences and realizes the impact you want on future generations. Contact giving@stu.ca or call 506-452-0645 to discuss further.
Stocks and other securities
Your gift can be in the form of shares, bonds, or mutual funds. Donations of stock will be receipted for the fully appreciated value of the shares on the date they are received. A gift of stock may be right for you if you would like to reduce or eliminate capital gains taxes on well-performing investments. For details on the tax advantages, visit the Government of Canada website.
Life insurance gifts
Donating life insurance to St. Thomas transforms affordable premium payments into a substantial future donation. Donors can often make a larger gift than they ever thought possible.
Options:
- Name St. ÐÇ¿Õ´«Ã½ as the beneficiary on your policy and the payments are considered a donation in the year of death, qualifying for a tax credit that can offset the income tax liability on your estate.
- Name St. ÐÇ¿Õ´«Ã½ as the owner of an existing or new life insurance policy and you receive an official tax receipt for any cash value present at the time the donation is made on a paid-up policy. This provides an immediate tax benefit while you are living.
A life insurance policy may be right for you if:
You are eligible for low premiums
You prefer to pay monthly premiums resulting in a large gift several years from now
You already own a policy and can make St. Thomas a beneficiary and have other estate plans to support your family
Retirement Plans (RRSPs & RRIFs)
St. ÐÇ¿Õ´«Ã½ can be named as a direct beneficiary of your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF). This can generate a charitable tax receipt to offset taxes that become due in the year of death, when remaining funds in most RRSPs/RRIFs become fully taxable as income.
Make an immediate and future impact:
If you find you do not need the required annual withdrawal from your RRIF, you can donate this annual amount to have an immediate impact on students and offset taxes.
Next steps
Estate planning is a deeply personal decision. Our University is honoured you are considering this type of future investment. To learn more about leaving a legacy gift that will help ensure success for our future students, please contact ÐÇ¿Õ´«Ã½ Advanceement at 506-452-0645 or email alumni@stu.ca
Sharing details of your legacy intention with the University helps ensure the future use of your gift reflects your interests and preferences. Our development officers will assist you as you consider your legacy and the impact you want to have on future generations.
Recognizing our Planned Donors – Chancellors Club
The Chancellors Club recognizes and celebrates the visionary philanthropy displayed by friends and alumni who have confirmed that St. Thomas is part of their estate plans. Members receive special communications and invitations to select donor gatherings.