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 PLANNED GIVING
Financial assistance is essential to support the programs and services offered by the
Calgary Public Library. Many people are unaware that by making a planned gift they can
continue to help and there may be tax benefits to these gifts!
The Calgary community is widely recognized for a long history of philanthropy and legacy
building. Leaving a planned gift to the Calgary Public Library Foundation brings this
principle into action increasing the charitable capacity of our community.
The purpose of a planned gift is to make a donation to the Calgary Public Library
Foundation through an individual’s financial and estate plans. It ensures the
long-term health and stability of the Calgary Public Library.
Choosing to make a gift from the heart brings meaning, dignity, and purpose to a
life well lived. Your gift to the Calgary Public Library Foundation is your
opportunity to participate in charitable and community work most meaningful
to you, in a way that allows the Calgary Public Library to be well supported
now and long after you have gone. Surprisingly, such a gift can also be a very
practical addition to a financial or estate plan when tax issues are taken into
consideration -- even for those who do not think they have tax issues.
Asking your trusted advisors about making a planned gift can be the first step
of a very joyful journey.
Frequently Asked Questions About Leaving A Planned Gift:
The Benefits of Planned Giving
Planned giving means simply what it says. It means that you…the donor can plan how you want to
fulfill your philanthropic objectives in a way that maximizes your estate planning or annual tax
benefits. And it means that the Calgary Public Library Foundation can plan for the short term and
future needs of your library in a way that maximizes the best return on your investment. There are
many ways to reduce your tax dollars today while at the same time benefiting your library.
Wills and Bequests
By careful planning, a bequest is a commitment beyond your lifetime to the principles you stand for
today. You may wish to leave a specified amount or percentage of your estate to the Foundation.
Or you may elect to make a residual bequest leaving the remainder of your estate only after you have
provided for your loved ones. Whatever you decide, it is essential that you clearly state your
intentions in your will.
Gift of Life Insurance
There are many ways to make a planned gift using life insurance. A life insurance policy is usually
purchased in order to provide for the financial security of the people you care about. The same would
apply to the Calgary Public Library Foundation. By naming the Calgary Public Library Foundation as the
beneficiary for a policy, you will ensure that the needs of your library will also be provided for,
long after you are gone.
You may wish to donate an existing policy that you no longer need by designating the Calgary Public
Library Foundation as the owner and beneficiary of the policy. In this case, the Foundation would
issue you a tax receipt for the cash surrender value.
Or you may wish to purchase a new policy, naming the Foundation as the sole owner and beneficiary.
You would pay the premiums and receive income tax receipts from the Foundation for the full amount
of the paid annual premiums.
Gift of Security
The least expensive way to make a planned gift is through the donation of appreciated, publicly listed
securities such as stocks, bonds and mutual fund units. In fact, you can save half the capital gains
when you donate them to a registered charity such as the Calgary Public Library Foundation. When you
add this capital gains tax reduction to the tax credit you receive for your donation, the total value
of your tax benefits can equal as much as 64 cents for every dollar worth of stock that you donate!
Charitable Gift Annuity
A Charitable Gift Annuity is an arrangement that allows you to make an immediate gift to the Calgary
Public Library Foundation and receive guaranteed income for life. And it’s one of the benefits of age…
the older you are, the higher the annual payments will be.
Through a Charitable Gift Annuity, you would transfer your property to the Foundation in exchange for
life payments. A lump sum payment would be made to the Calgary Public Library Foundation and you or
someone you designate, would receive a guaranteed payment for life. For people over 70 years of age,
Charitable Gift Annuities are an excellent alternative to GIC’s or bonds because they offer the same
income security but with improved cash flow.
Charitable Remainder Trusts
Charitable Remainder Trusts are powerful and effective planning tools for people over the age 65 who
have made, or who plan to make a charitable bequest. This type of planned gift includes assets such
as cash, securities, or real estate and it is transferred to a trustee who holds and manages it.
If and when the asset becomes income producing, you and/or your beneficiary will receive income from
the trust, either for life, or for a specified number of years. The remainder of the trust is then
distributed to the Calgary Public Library Foundation after the specified term, or after the death of
the last beneficiary.
Once you have transferred ownership of the property to the trustee, which may be a charitable
organization like the Calgary Public Library Foundation, the trust document is created.
Who Can Help Me Plan This Gift?
Work with your own professional advisor, such as a financial or estate planner, your lawyer,
accountant, trust officer or insurance agent, to design your planned gift to the Calgary Public
Library Foundation. A professional advisor can tell you about all the tax benefits of planned gifts
and help ensure you are getting the maximum tax and legal advantage allowed for your gift.
What your planned gift will mean to the Calgary Public Library Foundation
To the surprise of many, the Calgary Public Library receives less municipal funding per capita than
any other similar library in the country. Our Planned Giving Program reflects the need to ensure that
adequate financial resources are available now and in the future. When you make the decision to make
a planned gift, you will be enabling the Foundation to continue funding special programs and services
that are not covered by core funding that the Foundation receives from municipal and provincial
governments. Programs that address adult and childhood literacy, services that provide access to
information for residents with special needs and funding to support the growing needs of your library branches.
If you need help, or need information from the Calgary Public Library Foundation, call us and we
can tell you more about the opportunities that are available and how your gift will help us continue to do great work.
Let your family and loved ones know your intentions so they can support your charitable goals, and
work with a professional advisor to maximize the advantages to you and the Calgary Public Library
Foundation.
The Calgary Public Library Foundation
616 Macleod Trail SE
Calgary, Alberta, T2G 2M2
Phone: (403) 260-2631
Monday to Friday, 9:00 a.m. - 5:00 p.m.
Fax: (403) 234-8763
Email: DearLibrary@calgarypubliclibrary.com
Charitable Registration Number: 87292-3537-RR-0001
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