Major donations and planned donations
A planned donation, essential support for the advancement of research
The Major Donations and Planned Donations Program has several options that offer different financial benefits, and significantly reduce the tax impact on your income.
For more information, please contact France Grenier, director of Major Donations and Planned Donations : email@example.com
A major donation and a planned donation provide essential financial support for the advancement of research. In addition, it concretely supports research that significantly contributes to finding a cure and maintains hope for a cure. Ultimately, the planned gift improves the well-being of people with this disease.
The capital of the endowment fund can be built by a single donor or by a group of people who are committed to investing in research to beat cancer.
- The endowment fund is specifically made up of capital or the accumulation of periodic and capitalized sums which are invested over the long term and of which only the income generated by the accumulated capital is used to finance projects specifically dedicated to research on the cancer (certain conditions apply).
- Creating an endowment fund means perpetuating your philanthropic action while enjoying significant tax advantages.
Donation of shares
This type of donation is for anyone who owns securities, publicly traded stocks, mutual fund units and bonds.
No matter your age, income or net worth, your contribution allows you to save substantial taxes and meet your philanthropic goals.
- By directly assigning your securities to the Institute (the transfer can be done electronically), you pay no tax on the taxable portion of your capital gain. In addition, the Institute will issue you a tax receipt corresponding to 100% of the fair market value on the day of transfer to the Institute’s brokerage account.
Donation of a life insurance policy
Whether to reduce the immediate tax bill or to reduce the withholding tax for the estate, such a strategy allows the donor to do a substantial gift without having to dip into cash.
The benefits for the donor related to this type of donation are numerous. The main types of life insurance donations are:
- For an existing life insurance policy:
The Institut du cancer de Montréal may, under certain conditions, become the owner and beneficiary of the said policy and issue a receipt for tax purposes equivalent to the fair market value of the policy (valuation made by an independent actuary).
- Designation of the Institut du cancer de Montréal as beneficiary:
This strategy, in addition to being an affordable way to make a substantial donation, prevents you from drawing on your cash flow and enjoys a significant and immediate tax advantage by issuing a receipt for tax purposes as soon as possible. entry into force of the new designation. Several options are offered by the Institute for this increasingly common type of donation.
- Before canceling an existing life insurance policy:
A tax-efficient option in the event that you are thinking about no longer paying for a life insurance policy that you hold.
Every year, millions of dollars in life insurance policies are lost as a result of their cancellation. Under certain conditions, the Institute offers diversified alternatives while allowing you to meet your philanthropic goals.
Donation by a testamentary bequest
A gift by will is a simple, accessible and widespread way that can significantly reduce the tax payable by the estate.
This donation is for anyone regardless of their age and helps support research while preserving the heritage you plan to leave to your heirs. The most common testamentary bequests are:
- Particular legacy : a specific amount, a specific asset, a block of securities (stocks, bonds);
- Residual bequest : all or a percentage of what remains after the distribution of the estate;
- Universal bequest : the totality of the property, sometimes divided between several beneficiaries;
- The designation of a beneficiary of an RRSP, pension fund, life insurance policy or insured annuity.