Planned Donation
Your donation is precious.
To make the dream cherished by Charles (“When I grow up, I will be cured!”) a reality for children all across Québec, the Fondation needs support today so that it can better plan its future.
In this regard, the Fondation Charles-Bruneau places great importance on planned donations, which allow it to chart its development by providing resources in the medium and long term.
What is a planned donation?
A planned donation is a kind of charitable donation that is an integral part of sound financial and estate planning. It consists of giving, while alive or after death, a part of the assets accumulated during the course of your lifetime, based on your personal, family or financial situation.
This type of donation is not reserved solely for the wealthy or people with no children. It represents a concrete gesture that anyone can make to support a cause they hold dear over the long term.
The Foundation’s Planned Giving Policy
A word from Pierre Bruneau
“When my son Charles was diagnosed in 1979, children had a 35 percent chance of overcoming cancer. Today, thanks to investments in research, that hope for a cure has risen to 80 percent. Even now, after serving as a spokesperson for the Fondation for so many years, I continue to believe that one day, all children with cancer will suceed in making the dream cherished by Charles, ‘When I grow up, I will be cured,’ a reality. It’s vital that we continue to support research and thus improve the day-to-day lives of children with cancer. A planned donation is an ideal way to make a meaningful gesture. It’s important, for me, to ensure continuity for this cause that I hold dear. Knowing that people are prepared to support the Fondation in the long term lets me look to the future of these children, victimized by cancer, with a great deal of serenity. Thank you!”
Why make a planned donation to the Fondation Charles-Bruneau?
- To give hope to children with cancer by supporting them in a sustained manner;
- To support a cause you hold dear in a more significant manner;
- To allow your heirs, based on the type of donation selected, to benefit from certain tax advantages related to estates;
- To benefit from significant tax advantages yourself;
- To deepen your values of mutual assistance, solidarity and sharing;
How to make a donation?
A planned donation is a carefully considered gesture. Speak to various professionals – a personal insurance broker, financial advisor and planner, notary, accountant, tax expert or lawyer – to ensure that you have all the information you need to make an informed decision, based on your situation. The Fondation can assist you through this process by referring you to qualified professionals.
For further information, please contact us at 514 256-0404.
Immediate Donations
Cash donations
This donation category includes amounts in cash, cheques, credit cards and pre-authorized contributions, usually monthly.
How to create an endowment fund
You can create an endowment fund that allows the Foundation to ensure its sustainability. The funds must be kept for at least 10 years and must have a minimum value of $5,000.
The fund may be given a name of your choosing and thus pay tribute to a person or persons you hold dear. You can also determine the purposes for which the fund revenues will be used. In other words, the Foundation can be authorized to use only the interest or part of the capital for its management purposes or any other specific project.
You can also determine the amount to be withdrawn every year, until the total donation amount is spent.
Donations in kind (donation of property or securities)
To be recognized as a donation in kind, the donation must be comprised of a tangible asset (e.g., shares, bonds, segregated fund contracts, real property and other tangible capital assets, certified cultural property, capital goods, or company inventory) and not a service. This type of donation allows the donor to transfer an asset in a simple manner, without having to liquidate or sell it.
Capital gains from property assets other than the principal residence are taxed at a rate of 50%. The calculation of the donation amount is based on the market value of the property at the time of donation. Costs and expenses incurred to transfer property, including assessment and inspection fees, fees to issue certificates of location, and notary fees, are defrayed by the donor.
Donation of registered plans
This type of donation allows the person whose assets are in large part frozen in registered plans to make a major donation. While living or after death, the donor may donate part or all of his or her retirement savings (RRSP or RRIF) to the Fondation Charles-Bruneau without paying taxes and while preserving, at all times, the right to revoke his or her decision and designate a new beneficiary.
Deferred Gifts
Bequests
Once the well-being of your family and loved ones is ensured, you may choose to make a significant donation to the Fondation Charles-Bruneau by drafting a will. In the event of major life changes, you may modify your will at any time based on your situation.
A bequest remains one of the simplest and most accessible ways to plan a donation. Numerous options are available to you:
- Specific bequest (a specific amount or determined asset);
- A residual bequest (all or part of what remains after the payment of debts and specific bequests);
- A universal legacy (all assets, sometimes divided among several beneficiaries);
All these means entitle the donor to an official receipt, which may be applied to the donor’s final income tax return. The tax advantages stemming from a bequest may significantly reduce estate taxes.
Donation of a product in a life insurance contract
There are various ways to plan a donation through life insurance. The terms and conditions of a donation in the form of life insurance depend on your objectives, age and family situation:
- Assignment of an existing policy: If you no longer need the protection offered under your life insurance policy, you may transfer its ownership to the Fondation Charles-Bruneau while continuing to pay the premiums, where applicable;
- Purchase of a new policy: If you wish to make a major donation, but your current resources are modest, you may purchase a life insurance policy and then assign it to the Fondation Charles-Bruneau. In this case, it is always preferable to spread out the premiums over a limited time period, for example three, five, seven or 10 years. Each premium paid entitles you to a charitable tax receipt equivalent to the amount of that premium.
The Fondation may be a beneficiary, in whole or in part, of a life insurance policy.
Charitable annuity
A charitable life annuity consists of a donation in cash or other assets to a charity in exchange for a guaranteed income supplement for life or for a determined period. Given that the Fondation Charles-Bruneau is not authorized to issue an annuity, the donor, with help from the Fondation, can purchase an annuity from a life insurance company and designate the donor as the primary beneficiary of the annuity. Thus, the insurance company pays the donor an annuity until the end of his or her life. Upon the donor’s death, the remainder is paid to the organization as the secondary beneficiary.
Donation through a charitable remainder trust
A charitable remainder trust is a gift of residual interest. The donor (the “trustor”) assigns an asset to a trustee, who holds and manages it. The net revenue from the asset is paid to the donor or a designated beneficiary, or to both. When the trust ceases (either upon the death of the beneficiary or beneficiaries, or at the end of a predetermined period), the remaining funds are remitted to the Fondation Charles-Bruneau. If the trust is irrevocable, the donor is entitled to receive a charitable receipt equivalent to the current value of the residual interest as of the termination date of the trust.
