Ways to Give Ways to Give Donate Now to USMC My undergraduate experience with USMC has empowered me in unimaginable ways through the support of gracious donors like you. Thank you for your willingness to provide young people like me with a chance. — Maya Ramchandani 1T6 Your gifts will advance exciting initiatives that will benefit students across campus. There are many ways to give—and every gift makes a difference! Charitable Registration Number: BN 11927 9321 RR 0001 How to Give Give Online Donate online by credit card by using our secure online giving page here. Give by Mail To donate by cheque, please print a copy of this gift form, fill in the details requested, and include it with your cheque, payable to the University of St Michael’s College. Mailing address: University of St Michael’s CollegeOffice of Advancement81 St. Mary Street Toronto, ON M5S 1J4Canada Give by Phone To make a donation by telephone, please call Ken Schnell, Advancement Manager, Annual Campaign at (416) 926-7281 or (866) 238-3339. Give Monthly Monthly Giving is easy. Just tell us whether you would prefer to use your credit card or your chequing account, and we’ll take care of the rest. Giving on a monthly basis is also: Flexible. You can increase, decrease, pause or stop your monthly support at any time. Convenient. You will receive a single, consolidated tax receipt for all of your donations from the previous year. Useful. Monthly giving provides a great way to manage your cash flow. Best of all, by becoming a monthly donor, you will have the satisfaction of knowing that you are providing a steady stream of funding to USMC, allowing St. Mike’s to plan to plan ahead, seize unexpected opportunities, and maximize financial resources. Monthly donors are recognized as part of the St. Michael’s Double Blue Society for their continuing commitment to the University. To become a Monthly Giving donor, please go to the U of T donation page and select the option for monthly credit card or contact Ken Schnell, Advancement Manager, Annual Campaign at (416) 926-7281, (866) 238-3339 or by email at firstname.lastname@example.org. Join the Faculty and Staff Campaign Every day, USMC faculty and staff give their time and energy to help our students reach their full potential. Every year, many faculty and staff go above and beyond by making a personal donation. You may make a one-time gift by cheque or credit card or an ongoing donation through convenient payroll deduction. You can direct your support to your own faculty, division or program—or to any area that is meaningful to you. To set up your gift, make a gift online and select “Payroll Deduction,” or contact Ken Schnell, Advancement Manager, Annual Campaign at (416) 926-7281, (866) 238-3339 or by email at email@example.com. Donate from the United States St. Mike’s alumni and their families (spouses, children, grandchildren, parents, and siblings) may donate directly to the University of St. Michael’s College and, under the Canada-United States Income Tax Convention, use the University of St. Michael’s College charitable receipt for their U.S. income tax returns. American citizens (or residents) who are not alumni or related to alumni of the University of St. Michael’s College, as well as corporations, foundations, estates and trusts requiring a U.S. tax receipt can contribute to the University through The Associates of the University of Toronto Inc., a not-for-profit organization recognized under the U.S. Internal Revenue Code, Section 501(c)(3). For more information on giving to St. Michael’s through the University of Toronto Associates, please call toll free 1-800-699-1736 or e-mail firstname.lastname@example.org. Ways to Give Annual Fund Gifts – Supporting Areas of Greatest Need Annual gifts made by alumni and friends, parents, faculty, and staff support USMC’s most pressing needs and promising opportunities. Donations to the annual fund enrich St. Mike’s distinctive graduate and undergraduate programs; support vital student services, enabling us to attract the best students regardless of need; enhance student residences and teaching facilities; and ensure the John M. Kelly Library is equipped to meet the demands of the 21st century. You can choose to designate your gift to our area of greatest need or specify the area of your choice to support. Donate now via our secure online giving page or contact Ken Schnell, Advancement Manager, Annual Campaign at (416) 926-7281 or (866) 238-3339 or email@example.com. Memorial and Tribute Gifts Making a gift in honour or in memory of a friend and family member is a wonderful way to celebrate someone special in your life and support a project in their name. We will notify the honouree or their family of your generous gesture. To donate in honour or in memory of a special person, contact Ken Schnell, Advancement Manager, Annual Campaign at 416-926-7281 or 1-866-238-3339, or by email at firstname.lastname@example.org. Gifts of Stocks and Securities Donating publicly traded stocks and securities is a tax-smart way to support USMC. You will receive a charitable tax receipt for the fair market value of the donated security and you will not pay tax on any capital gain. You can choose to support the University’s greatest needs, or you may designate your gift to a University priority in line with your interests. Eligible gifts of stocks and securities include: shares debt obligations or rights listed on a designated stock exchange a share of the capital stock of a mutual fund corporation a unit of a mutual fund trust an interest in a related segregated fund trust a prescribed debt obligation Gifts of stocks and securities have a number of benefits: The capital gain inclusion rate is zero when eligible stock or securities are donated directly to USMC. If you sell the shares and donate the proceeds, you will be required to pay capital gains tax. (See example below.) The value of your charitable tax receipt will be based on the market closing price on the day that USMC receives your stock or securities in its brokerage account. Donors making a gift of shares acquired through an employee stock option plan of a publicly traded company benefit from the favourable treatment of a zero capital gain inclusion rate. To be eligible for this benefit, you must donate these shares in the same calendar year and within 30 days of their acquisition. Example: Jeff decided to support U of T with a gift of $100,000. When reviewing whether he should sell his shares in a publicly-listed corporation and then donate the cash proceeds or donate the shares directly, Jeff learned that he would have a greater net tax benefit by donating the shares directly to U of T. The chart below assumes a tax rate of 50 per cent. SELL SHARES & DONATE CASH DONATE SHARES DIRECTLY Fair Market Value $100,000 $100,000 Cost Basis $20,000 $20,000 Capital Gain $80,000 $80,000 Taxable Gain $40,000 $0 Tax Credit (at 50%) $50,000 $50,000 Tax on Gain (at 50%) $20,000 $0 To make a gift of stock or securities, please make use of our Gift of Securities form, which is available as a PDF here. For more information, please contact Klim Khomenko, Senior Development Manager at 416-926-7279 or email@example.com. Will Bequests Confirming a bequest in your will as part of your estate planning provides you with an opportunity to make a special gift to the University of St. Michael’s College once your needs and those of your loved ones have been met. Benefits of making a bequest include the following: You have the use of the asset during your life. A bequest is a tax-effective way of supporting USMC as it reduces taxes owed by your estate. A bequest is revocable and can be modified if your financial circumstances change. When planning your bequest you may choose to: designate a residual amount—for example, a share or a percentage of your estate; designate a specific dollar amount or item. Sample bequest wording: "To pay the University of St. Michael's College the sum of $________ [or ___% of the residue of my estate]. It is my wish that this gift be used for the purposes and designs deemed appropriate by the President of the University of St. Michael's College or their designate." For more information about making a bequest to the University of St. Michael’s College (or if you wish to direct your gift to a specific area or for a specific purpose), please contact Klim Khomenko, Senior Development Manager, for a confidential conversation at 416-926-7279 or firstname.lastname@example.org. Matching Gifts Many companies in North America will match charitable contributions made by their employees, spouses, or retired employees. Ask your Human Resources department if your employer matches employee donations. If so, obtain a matching gift form and include the completed form when you send in your gift, and we’ll take care of the rest. That’s all it takes to double the good you do! Gifts in Kind A wide range of non-cash donations such as books, real estate, artwork, special equipment, and other tangible personal property are commonly referred to as “gifts in kind.” These gifts may enhance an academic department or a USMC collection. Gifts in kind can be made during your lifetime, or through your estate by including instructions in your will. You receive a charitable tax receipt for the appraised, fair market value determined on the day the gift is made. When the donation is made, the University will either add the donated item(s) to its collections or it will liquidate the asset, depending on a mutually agreed-upon course of action. The following types of property require special consideration and consultation with the University to ensure that they support its academic priorities: real estate certified cultural property personal book collections For more information please contact Ken Schnell, Advancement Manager, Annual Campaigns, Development, at 416-926-7281 or email@example.com. Other Legacy Gifts Legacy gifts, such as the Will Bequest listed above, are charitable donations that can be set up during your lifetime but won't become available to the University until sometime in the future. These future gifts can come in many forms and many of them provide tax benefits now. Note: This information provided is general in nature, does not constitute legal or financial advice, and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek professional legal, estate planning and/or financial advice before deciding upon your course of action. To discuss any of the following giving options, please contact Klim Khomenko, Senior Development Manager at 416-926-7279 or firstname.lastname@example.org. If you have already arranged to leave a planned gift to the University of St. Michael’s College, we would like to recognize your generosity. Please complete the Heritage Society form so we can ensure that we are fulfilling your wishes. (The form is available as a standard PDF here, and as a fillable PDF here.) This form also confirms your membership in the Heritage Donor Societies at St. Michael’s and at the University of Toronto; members receive special invitations to exclusive Heritage Society programming. Of course, all requests for anonymity are respected. Gifts of Life Insurance A gift of life insurance is an affordable way to make a real difference. A modest annual premium, paid over time, can result in a significant future legacy. There are three ways to donate life insurance: Donate an existing policy: receive a charitable tax receipt for the net cash surrender value and any premiums paid after the donation date. Donate a new policy: receive a charitable tax receipt for any premiums paid after the donation date. Assign USMC as the beneficiary of your individual or workplace insurance policy: your estate receives a charitable tax receipt. Benefits of a gift of life insurance include the following: Affordable annual premiums convert to a large gift to the University. You receive a charitable tax receipt based on the way the insurance was gifted. Gifts of life insurance are not included in probate. Charitable Remainder Trusts A charitable remainder trust allows you to arrange your legacy gift now and receive an immediate charitable tax receipt, while enjoying the interest income for life. You may designate the proceeds of the charitable remainder trust to USMC’s greatest needs, or to a University priority that meets your interests. To establish a charitable remainder trust: You irrevocably transfer assets (a sum of money, securities, personal or real property) into a trust to be managed by a trustee, such as a financial institution, yourself, a lawyer or other individual. A trust document names you or others as the beneficiary of the interest income and names USMC as the remainder beneficiary. Benefits of a charitable remainder trust include the following: You receive a charitable tax receipt for the net present value of the assets in the trust. You receive lifetime income from the donated asset. These gifts provide privacy as they are not part of your will and are not included in probate. If all or the majority of your estate is intended for charity, then a charitable remainder trust is a way to ensure you maximize the use of your charitable tax receipts. Charitable Gift Annuities Charitable gift annuities provide both immediate support to the University of St. Michael’s College and a secure income stream for your lifetime. Depending upon your age, this income may be 100 per cent tax-free. A portion of the total contribution is used to purchase the annuity from a licensed insurance company, while the balance is retained by USMC as an immediate donation, for which you receive a charitable tax receipt. The gift portion can support the University’s greatest needs, or you can designate it to a University priority that is in line with your interests. Benefits of a charitable gift annuity include the following: You receive a guaranteed income for life. Annuity rates are typically much higher than the return on guaranteed income investments. Depending on your age, a substantial portion or all of the annuity payment is tax-free. You receive a charitable tax receipt for the gift portion. Example — a charitable gift annuity for an 80-year-old: A transfer of $75,000 creates annual payments of $3,951, guaranteed for life, while $25,000 becomes the gift portion to USMC and the amount of your charitable tax receipt. Planned Gifts of RRIFs & RRSPs The University of St. Michael’s College can be named as a direct beneficiary of Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs). RRSPs and RRIFS are a smart way to save for retirement and a tax-smart way to help ensure the best academic resources are available for students at USMC. Benefits of planned gifts of RRSPs and RRIFs include the following: Remaining funds in most RRSPs/RRIFs become fully taxable as income in the year of death, usually at the highest tax rate. Naming the University as the direct beneficiary of such plans generates a charitable tax receipt which will offset this tax. These types of gifts provide privacy because they are not part of your will, and there is no cost in creating them. The balance of your retirement fund flows outside your estate, and therefore it is not included in probate. Please note that RRSP and RRIF assets cannot be transferred directly to a registered charity during your lifetime and be eligible for a charitable tax receipt. However, if you find that you do not need the required annual withdrawal from your RRIF, consider donating this amount to USMC to offset your taxes. Gifts of Residual Interest With a gift of residual interest, you can donate your personal property to the University of St. Michael’s College now and continue to use it for the rest of your life. You also receive an immediate tax benefit. These donations can include assets such as real estate. Benefits of a planned gift of residual interest include the following: You continue to use the property for life. You receive a charitable tax receipt for the net present value of the property when the gift is made. These gifts are not included in probate and provide privacy, as they are not part of your will. If all or the majority of your estate is intended for charity, then a gift of residual interest is a way to ensure you maximize the use of your charitable tax receipts. At the end of the term of the agreement, typically upon death, the University will either liquidate the property or add it to its assets, depending on your agreed-upon wishes.