Planned giving is another unique philanthropic tool that allows you to
ensure that our work will continue
into the future and fulfill your charitable objectives, while also
fulfilling your own financial objectives. You can plan for a future gift to Vajra Vidya Foundation to help young children and teens in Nepal. Planned gifts include bequests through your will, gifts that
provide income to you and others for life, gifts
of life insurance, and gifts of retirement
These gifts can be made in cash, stocks, bonds, personal
life insurance and real estate. Please contact your estate planning
attorney for more information.
There are many ways to help.
Making a bequest in your Will to Vajra Vidya Foundation provides an important legacy, insuring that education for Nepali children exists for generations to come. The bequest in your Will needn't be large to have a great impact. A small percentage of what’s left after providing for your loved ones could improve the education and living conditions for the students in Rinpoche's projects. This can prepare them to return their villages in the remote Himalayas to help preserve the culture and improve the lives of all.
You can see this example of how to word your will to include Vajra Vidya Foundation by downloading this PDF file.
2) Stock Transfer or Other Assets
When you give a
gift of stock, bonds or mutual fund units,
everyone benefits. It is amongst the least expensive ways you can help make a real difference in the lives of the forgotten children of the Himalayas.
As a result of the 2006 Federal Budget, you now get a full exemption from any capital gains tax when you donate securities directly to a charity. You will also receive a charitable tax credit for the full value of the donation. Vajra Vidya Foundation benefits
by the gift itself, by selling it without paying taxes on the gain. CanadaHelps which accepts gift of securities has easy instructions HERE.
For more information on how to donate, contact us at firstname.lastname@example.org
3) Life Insurance
Naming Vajra Vidya Foundation the owner
and irrevocable beneficiary of a paid-up or variable life insurance
can give you an immediate charitable deduction (for income
tax purposes) equal to the fair market value of the policy.
Premiums paid on a policy gifted to VVF are fully eligible for
charitable tax credits. The use of the tax receipt greatly
net cost of the policy for you, the donor. For just pennies a day, you can become a major benefactor.
4) Retirement Plans
You can name Vajra Vidya Foundation as beneficiary for any RRSP, RRIF, or other plan not used in your lifetime.
Your estate will save significant taxes when the assets pass to the Foundation.
Tax advantages of gifts of stock:
As of May 2, 2006, you are exempted from any capital gains tax on a charitable gift of publicly traded stocks or securities.
For example, you might wish to make a charitable gift of $10,000 by selling or donating stocks that cost you $4,000 to purchase, with a capital gain of $6,000. If you sell the stocks and donate the proceeds, you would claim a charitable tax credit for your donation but would also be assessed capital gains tax on 50% of the increase in value of the stocks.
By donating the stocks directly to Vajra Vidya Foundation, you get the charitable tax credit for the donation and you are exempted from any capital gains tax. The direct donation option in the example provided would result in a reduction in capital gains tax of up to $1,400, depending on your tax bracket. (Source: Department of Finance Canada, Budget 2006, Eliminating Capital Gains Tax on Donations to Charities (May 2, 2006)).
©Vajra Vidya Foundation Canada 2011