Legacy Gifts

Legacy gifts allow you to make a future donation to Calgary’s homeless animals without affecting your current financial circumstances. Regardless of the size of your planned gift you can be sure that your gift will continue to make a lasting and vital impact on the animals we care for. Giving options may even substantially reduce your taxes.

Your legacy will help us operate the only shelter in the city for dogs, cats, rabbits, birds, rodents and other domestic animals. Vital programs and services, such as investigations and inspections; humane education; veterinary care; violence prevention; lost and found and adoption, will be maintained and expanded thanks to your generosity.

Bequests
You can leave the Calgary Humane Society a gift (bequest) in your will either as a specific amount or as a portion of your assets. You may wish to designate your funds to a program of personal interest or as a non-designated donation to the area of greatest need. Your estate will benefit from tax advantages on the portion left to charity.

Life Insurance
Life insurance allows you to make a major donation at a modest cost. A policy, which names the Calgary Humane Society as both beneficiary and owner may be purchased or amended. You then receive a tax receipt for the cash surrender value of the policy and accumulated dividends and interest. Further payments will also entitle you to a tax receipt.

Gifts of Stock or Securities
The approved Federal Budget presented by the Conservative Government in May 2006 eliminated the capital gains tax on donations of stock and listed securities (company shares, bonds, mutual funds and employee stock options) to registered charities such as the Calgary Humane Society.

In other words, donors will not pay any tax on the gain and a tax receipt will be provided for the full value of the donation.

Before the changes to the budget, capital gains tax was levied at approximately 25% of the gain on securities that were donated directly to a registered charity. With the elimination of capital gains tax on this type of donation, the incentive to donate listed securities becomes significant.

Example 1:
The prospect donor purchased 1000 shares of ABC company at $25 each and the shares are now valued at $50 each. The total value of the investment has increased from $25,000 to $50,000, resulting in a capital gain of $25,000. If the prospect donor decides to sell the shares, he or she will pay tax on 50% of the capital gain, and, assuming a 39% marginal tax rate, the donor will pay approximately $4,875 in taxes.

If the prospect donor donates the shares to the Calgary Humane Society, he or she will not pay any tax on the increased value of the shares and will receive a tax receipt for the full value of the donation, $50,000 in this example. The donation tax credit will result in approximately $20,875 in tax savings assuming a 29% federal tax credit and 12.75% provincial tax credit.

Example 2:
The prospect donor wants to sell his or her securities. With the new changes to the Federal Budget it is possible to eliminate the cost of the capital gain taxes by donating a portion of the securities to CHS.

The prospect donor owns shares worth $100,000. The donor had paid $50,000 for these shares, therefore the capital gain is $50,000.

The donor can sell $80,000 worth of the securities and pay approximately $7,800 in capital gain tax. To offset the tax, the donor can donate $20,000 to CHS and get a 41.75% tax credit, or $8,350!

Disclaimer:
The above comments are not intended to be, nor should they be construed as, income tax advice to any potential donor. Donors are encouraged to seek professional tax advice in order to ascertain the precise income tax implications of any contemplated donation.

Annuities
Using an annuity, you receive life time payments (or for a specified period of time) from the Calgary Humane Society in return for a lump-sum donation. Some or all of the income from the annuity that you receive may be tax-free.

Charitable Remainder Trusts
With this instrument, your assets are transferred to a trustee who manages the assets for your benefit during your lifetime. After death, the remaining principal is available to the Calgary Humane Society. A tax receipt will be issued for the present value of the assets placed in trust.

We recommend that you consult with your legal or financial advisor to confirm which planned giving option will most benefit your taxes or estate. When designating a gift please use our legal name: Calgary Humane Society for Prevention of Cruelty to Animals and include our address: 4455 110 Avenue SE, Calgary, AB T2C 2T7.

For more information about how you can create a lasting legacy for Calgary’s animals, please e-mail Jose Guillen or call 723-6001.