Mennonite
Central
Committee

Gift Planning — Canada

Learn how you can make a lasting contribution to those in need.

 

Giving options

• Gift through a Will 
• Gift of Public Securities
• Gift of RRSPs and RRIFs
• Gift of Life Insurance
• Charitable Remainder Trust
• MCC Global Compassion Fund

 

Suggested types of property to give

 

 

 

Gift through a Will

By supporting MCC through your will, you can help people around the world immediately or, if directed to MCC's Global Compassion Fund, for generations to come.

It is crucial for you to plan for the future with a will that directs how you wish to have your estate  handled. Wills are not just for wealthy people. Everyone, without exception, should make a will.

A bequest (a gift of cash or property made in a will) is a common way that donors choose to make a significant gift to MCC. Gifts of property, while usually acceptable, will normally be converted into cash unless otherwise directed by the Board of Directors of the provincial MCC office or MCC Canada.

There are different kinds of bequests but the most common is a General Bequest where MCC receives a specified amount of a gift, usually cash, to be used where it is most needed. It is best to specify a percentage of your estate because your estate will most likely grow over time.

Benefits

• A bequest is usually a significant gift, often more than you were able to donate to MCC during your lifetime.
• The gift can be put to use immediately by MCC.
• Your estate is entitled to a tax credit for the final income tax return and you protect your heirs by reducing estate tax liability.

 

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Gifts of Public Securities

If you own publicly traded securities outside an RRSP or RRIF that have increased in value, you could owe taxes when you sell them. A tax change in the 2006 federal budget means you no longer have to pay tax on capital gains when you donate publicly traded securities (shares, mutual fund units, bonds) to charity. You must donate the securities (in kind) for the tax exemption, not the proceeds from the sale of the securities.

Benefits

• MCC is able to convert your securities into cash and issue a receipt for the full, fair market value.
• Neither you nor MCC are taxed on any capital gains.
• Your gift can be put to use immediately by MCC.

 

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Gift of RRSPs and RRIFs

Millions of Canadians carefully build financial nest eggs for their retirement years. Many donors choose to give their RRSPs and RRIFS to charities like MCC at their death. This can be done by designating MCC as the beneficiary of the RRSP or RRIF.

Benefits

• MCC receives a significant gift to continue its work.
• These gifted assets don't have to pass through the estate to be eligible to receive the tax receipt in the year of death.

 

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Gift of Life Insurance

As your circumstances change, existing life insurance policies that once provided important protection may no longer be needed. If one or more of your policies no longer fits your personal financial needs you may want to consider donating the policy to charity.

Benefits

• MCC receives a significant gift that you may not have been able to make any other way.

There are more ways of giving a gift of life insurance. Contact MCC, Mennonite Foundation Canada, Mennonite Brethren Stewardship Services or your financial advisor for more information.

 

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Charitable Remainder Trust

With a Charitable Remainder Trust you can make a major gift now and continue to enjoy the income from it for the rest of your life. Through the use of a trust funded with cash, securities or real estate, MCC receives whatever remains in the trust after your death.

If you prefer, the trust agreement can be written to cover the life of your spouse as well, or for a specific period of years

Benefits

• MCC receives a future gift to further its work.
• You are entitled to a tax credit the year the gift is made.
• You receive net income for life or a term of  years

 

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The Global Compassion Fund

MCC's Global Compassion Fund is an endowment fund held and administered by Mennonite Foundation of Canada. The principal of the gift is invested and only the earnings are spent. It is a way of ensuring that your commitment to God's compassion lives on.

Benefits

• MCC’s Global Compassion Fund is able to pool gifts from many donors to create a large fund to help the poor and suffering around the world.
• MCC only uses the earnings from the fund and preserves the principal capital so that financial resources are self-perpetuating.
• All gifts to an endowment are eligible for a charitable tax credit receipt at the time that the gift is received.

 

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