Other Planned Gifts

Other Planned Gifts

Charitable Gift Annuity

A charitable gift annuity is an attractive way for individuals aged 70 and above to donate to Outside Looking In while receiving an income stream for life. It is an arrangement where you transfer funds to Outside Looking In for a commercial annuity to be purchased on your behalf with 75% of the funds, while donating 25% to support our work. The income stream from the annuity is determined by your age and the annuity you select.

Benefits:

An increase in your current after-tax spendable income
A fixed and guaranteed income stream
No investment management required once the annuity is set up
A significant portion, if not all, of the income from a gift annuity is tax-free
A charitable tax receipt for the donation component

Charitable Remainder Trusts

A charitable remainder trust is a philanthropic tool where Outside Looking In is given a future monetary benefit, while you receive the immediate tax benefit in respect of the charitable contribution. You can establish an irrevocable trust to support Outside Looking In's work using cash, bonds, securities, real estate or other tangible assets.

Benefits:

Immediate donation tax credit upon the creation of a charitable remainder trust.
A charitable donation for donation tax credit purposes equal to the net present value of the remainder interest in the trust.
A donation receipt for the fair market value of the residual interest at the time the property is transferred to the trust allowing income in the year of the transfer and/or any of the following 5 years.

Life Insurance Gifts

A gift of life insurance is a simple yet extremely impactful way to make a significant gift to Outside Looking In.

Allows you to:

Purchase a new life insurance policy naming Outside Looking In as the beneficiary and owner. Premium payments will be eligible for charitable donation receipts.
Donate an existing policy. Outside Looking In will have to assess the fair market value of an existing policy using an independent actuary. A charitable donation receipt will be issued for the assessed fair market value.
Name Outside Looking In as a beneficiary on your life insurance policy. Upon your death, the proceeds from the policy will be paid to Outside Looking In and your estate will receive a charitable tax receipt.

Residual Interest Gift

A residual interest gift is an arrangement where you irrevocably give real estate or personal property to Outside Looking In while retaining the right to use the property for life or for a term of years.

Benefits:

Retain the right to use the property with the ability to continue using it as before, with no impact on your lifestyle. If married you could retain use for your lifetime and also for the lifetime of your surviving spouse. Alternatively, use could be retained for a certain period of time.
Donation receipt based on current value. When the property’s title passes to the organization (with your life or other interest registered on title), you receive an immediate donation receipt for the present value of the donated residual interest.
Lowers capital gain burden. If the use of the property is retained by you only, or by you and your spouse, you must recognize only the portion of the capital gain allocable to the donated residual interest. There is no taxable capital gain when you give a residual interest in a principal residence.
Lowers probate and other estate-related fees. The gift removes the donated property from your estate, reducing fees and makes your wishes less susceptible to challenge by heirs than if you had made a bequest.

Gift of Securities

Publicly traded securities include stocks, bonds and mutual funds containing stocks listed on approved stock exchanges. They make excellent charitable gifts because they are liquid and are usually easy to value with favourable tax incentives.

Benefits:

See the impact of your gift right away (unless set up as a legacy gift).
Immediate donation receipt for the full fair market value of the donated securities.
Eliminates capital gains tax by donating your appreciated securities directly to Outside Looking In.
Many financial institutions will waive fees for charitable transactions.