The Foundation is a registered charity with Revenue Canada. Official tax receipts are issued to donors. (#88872-8664-RR0001)
The Foundation is a non-political, non-governmental charitable institution governed by a board of directors who serve voluntarily to represent their community.
The focus of the Foundation is to fund programs of Peace Arch Community Services which would not exist without local community support - important programs which go beyond the limits of government funding.
Endowment Fund Management
The goal of the Foundation is to hold its capital in perpetuity, safeguard it, increase its value as prudent investment will permit, distribute income to the benefit of designated programs of Peace Arch Community Services and to seek the advice and recommendations of citizens on changing areas of need in our community.
What You Can Do To Help
For citizens who hope that their lives and accomplishments will be remembered for something of permanent value and lasting significance, a donation to the Peace Arch Community Services Foundation is a way to contribute to the future of our community.
Your contribution, large or small, is important. Donations can be made annually or periodically as well as by bequest. Your gift can live on to give encouragement and hope to future generations struggling to raise families with challenges we can only imagine.
Benefits of Giving to the Foundation
Your gift will enable earned income to be provided to Peace Arch Community Services year after year, reflecting your interest in your community. Your gift will provide the means for Peace Arch Community Services to develop creative responses to local needs, thereby strengthening our community.
Although wills and bequests are a major source of funding for building an endowment and can offer donors important tax credits, many people are discovering that there are numerous other forms of planned giving that allow donors to enjoy the satisfaction of combining a deferred gift with immediate tax benefits.
There are many creative ways to make a charitable gift. To learn which is most appropriate for you we recommend that you seek professional advice from your tax advisor The Foundation welcomes inquiries from potential donors.
An Outright Gift of Money
An Outright Gift of Money is one of the most popular ways of making a gift at any time and receipts are issued for income tax purposes.
A Charitable Bequest
A Charitable Bequest can be as simple as a sentence or two in a new will or a codicil added to your present will. Sample wording is available from the Foundation. The most common types of bequests are:
- Specific Legacy - this is a gift of a specified dollar amount.
- Residual Bequest - this is a gift of a portion of the remainder of your estate after other bequests have been paid.
- Contingent Bequest - this is a gift of a share of your estate in the event of the prior death of other named beneficiaries.
- Remainder Gift - this is a gift which would be received by the Foundation after the lifetime of named beneficiaries receiving income from a trust established in your will.
- Gift of Appreciated Property - recent changes to the Income Tax Act increase available tax credits to 100% of income and provide important new tax benefits for gifts of appreciated property made in the last two years of life. Ask your tax advisor.
A Gift of Life Insurance
A Gift of Life Insurance is an appealing option for donors who wish to lever a small immediate cost into a large future gift. You may give a death benefit under an existing policy to the Foundation by naming the Foundation as the beneficiary. Or, to receive a current tax benefit, you may transfer policy ownership to the Foundation this may entitle you to a tax receipt for the policy's cash value and for every premium you subsequently pay. Planned gifts can often be combined with wealth replacement life insurance, allowing a donor to use tax savings to purchase a new life insurance policy benefiting his or her heirs.
A Charitable Gift Annuity
A Charitable Gift Annuity can be funded by assets or cash and can provide older donors with substantially tax free, guaranteed lifetime payments and possible tax receipt for portions of the contribution.
A Gift in Memory
A gift in memory of a friend or relative is a lasting memorial tribute.
An Interest Free Loan
An interest free loan can assist the Foundation in building an endowment with the principal repayable on demand or at a time stipulated by the donor.
Why Everyone Needs a Will
Without a will, the law may require a court appointed administrator to distribute your property in a way which may or may not be what you would have wanted. A will is therefore an essential document which allows you to:
- Direct how your property will be distributed
- Make arrangements for the special needs of persons you care about
- Leave specific instructions about the guardianship of minor children
- Appoint the person or persons of your choice to serve as executor of your estate
- Make charitable gifts or other financial arrangements for tax savings
WHEN TO REVIEW YOUR WILL
When you make a will, it will be based on your current circumstances. As time passes, anticipated and unexpected changes may make your will obsolete, contrary to your wishes or even invalid. These are some of the events and other considerations which should prompt you to review your will:
- Marriage
- Birth or adoption
- Divorce
- Death of a spouse or other relative
- Inheritance
- Guardianship
- Children's need for education
- Children reach adulthood
- Purchase or sale of real estate
- Purchase or sale of a business
- Change in asset valuation
- Retirement
- Change in spouse's will
- Move to another province
- Change in tax laws
- Named executor no longer able to serve
- Desire to make charitable bequest
Many changes may be made relatively simply and inexpensively by adding a codicil to your will. This is an amending document which changes or deletes an existing provision or adds an entirely new one. Charitable bequests are frequently made by codicil.
Planned giving may be of important value to you in maximizing tax and estate planning benefits and improving your financial and retirement planning. Among the various planned giving arrangements there may be some which can assist you in realizing your financial goals. We encourage you to ask your solicitor or other tax advisor about planned giving. Should you wish to include Peace Arch Community Services Foundation in your charitable giving, we would gratefully welcome the opportunity to respond to your confidential inquiries.
Need more information? Peace Arch Community Services Foundation is a Registered Charity under the Income Tax Act of Canada, Registration Number 88872 8664 RR0001
