Support Queen’s with a gift today that could change the world tomorrow.
Cash
When gifting cash to Queen’s, you will receive a donation receipt for the full amount of your gift.
You can choose to designate your gift to an area of special importance to you, or make your gift to the Queen's Annual Fund and allow the university to choose the area of greatest need.
Your gift can be made in several ways:
- On the web through our secure online server
- by calling 1-800-267-7837
- If you would like to make your gift by mail, please send a cheque payable to Queen's University to: Queen's University, Gift Services, Old Medical Building, 99 University Avenue, Kingston, Ont., K7L 3N6
For more information contact our Alumni Customer Service Team at 1-800-267-7837 (toll-free in Canada and the U.S.) or 613-533-2060 locally.
Pledges
You can support Queen’s through a pledge gift over a period up to and including 5 years. Payments can be made in monthly, quarterly, semi-annual or annual installments.
Please email Laura Leeman, Coordinator, Pledge Management, (613-533-6000 ext. 75884) for if you have any questions.
As with Cash gifts, you can set up your pledge:
- On the web through our secure online server
- If you would like to make your gift by mail, please send a cheque payable to Queen's University to:
- If you would like to make your gift by mail, please send a cheque payable to Queen's University to: Queen's University, Gift Services, Old Medical Building, 99 University Avenue, Kingston, Ont., K7L 3N6
Expendable Funds
Created by donors for a specific purpose of their choosing, expendable funds require a commitment to provide annual support for a minimum of five years. These gifts are not invested and do not generate annual investment income.
Visit Endowed Funds to learn more about setting up an endowed gift.
For more information contact our Alumni Customer Service Team at 1-800-267-7837 (toll-free in Canada and the U.S.) or 613-533-2060 locally.
Property Real and Collectable
If you give property now or through your estate, you receive a tax receipt for the fair market value once it has transferred to Queen’s.
Real Estate
There are significant tax advantages for making a major contribution such as real estate to support Queen’s University. You can convert land and other real property into an income stream rather than it being a drain on resources.
Ways to make a gift of real estate:
- Outright gift made immediately. This maximizes the income tax charitable deduction and removes the property from your taxable estate.
- Simple bequest of real estate to Queen's University in your Will.
Property or Goods (Gifts in Kind)
Gifts of art, collections, and other tangible property can be an effective way to provide meaningful support for the University. Depending on the asset given, the structure of your gift, and the purpose of your gift, there are various tax and financial benefits.
For more information email our Alumni Customer Service Team or call 1-800-267-7837 (toll-free in Canada and the U.S.) or 613-533-2060 locally
Stocks and Securities
A gift of publicly traded securities is both simple and tax-effective. You and your broker can electronically transfer these types of gifts electronically into the Queen’s account by using our Gift of Publicly Traded Securities Form.
Download Gift of Publicly Traded Securities Form
Please contact our Gift Services Office at 1-800-267-7837 (toll-free in Canada and the US) or 613-533-2060 with questions or assistance in completing the securities form. You receive greater tax benefit through a gift of securities than you would if you sold the securities and donated the cash proceeds to charity.
Gifts eligible for this preferred tax treatment can include any of the following securities:
- Prescribed bonds
- Units of mutual funds
- Shares, warrants, bills and futures that are listed on the stock exchanges prescribed by Canada Revenue Agency
Benefits of Gifting Securities
- Eliminates the capital gains tax owing on the shares.
- Official tax receipt issued for the fair market value of the gift, based on the closing price of the shares on the day the gift is received.
- Choose how your gift is used, e.g., student aid, a particular academic program, or the area of greatest need.
Transferring Securities Electronically
Please contact our Gift Services Office at 1-800-267-7837 (toll-free in Canada and the US) or 613-533-2060 to request our Gift of Securities Form.
An Illustration- Gifting Publicly Traded Securities
|
|
Sell Shares & Donate Cash |
Donate Shares Directly to Queen’s |
|---|---|---|
|
Fair Market Value of Asset |
$40,000 |
$40,000 |
|
Cost Basis |
$20,000 |
$20,000 |
|
Capital Gain |
$20,000 |
$20,000 |
|
Taxable Capital Gain |
$10,000 |
$0 |
|
Charitable Tax Credit |
$18,564 |
$18,564 |
|
Tax due on Capital Gain |
$4,641 |
$0 |
|
After Tax Cost of Gift |
$26,077 |
$21,436 |
|
Net Benefit to the Donor |
$4,641 |
The after tax cost to you is about 54 cents on the dollar. Example assumes a 46.41% tax rate.*
*This information is current to September 30, 2014. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Readers are cautioned to consult their own professional advisors to determine the applicability of information and opinions in this newsletter in any particular circumstances.
Gifts of Life Insurance
A gift of life insurance offers the opportunity to secure a lasting legacy at a fraction of the final value of the gift.
Options for Gifting Life Insurance
Transfer the ownership of an existing or new policy to Queen’s University. You will receive a tax receipt for the fair market value of the policy and for premiums paid after the date of transfer.
Name Queen’s University as beneficiary of your policy. Your estate will receive a tax receipt for the full amount of the proceeds received by Queen’s University.
Benefits of Gifting Life Insurance
- A gift of life insurance allows you to arrange a substantial future gift to Queen's at a relatively low cost.
- Valuable current or future tax benefits are available depending on the structure of your gift.
- Satisfaction of making a meaningful gift to Queen’s that is important to you – e.g., student aid, a particular program, research initiative, or area of greatest need.
- Depending on the size of the gift, you can establish an endowed fund and name it in honour of someone close to you or secure your personal legacy.
Ideas to Maximize the Benefits of Life Insurance
Wealth Replacement: Use life insurance to replace donated wealth to take care of family or other causes in your community. This can be done during your lifetime, or through your Will.
RRSPs/RRIFs and taxes: Name Queen’s as the beneficiary of your RRSP/RRIF (or alternate beneficiary after your spouse) with the full value transferring to Queen’s upon your passing and set up a life insurance policy with proceeds equal to the value of your RRSP/RRIF to benefit your children. This helps you provide an inheritance for your children, create a lasting legacy for Queen’s and minimize taxes paid by your estate.
Insured Annuity: Purchase an annuity and then use the income generated from the annuity to pay for life insurance premiums. The insurance death benefit can be directed to your heirs tax-free.
Tax Deductions: If Queen’s is the beneficiary of your life insurance policy, your estate will be entitled to a charitable tax credit, which can be used to help offset tax liabilities in your estate (i.e. capital gain tax owing on a family cottage).
Please email our Gift Planning Team with your questions or for further information. We strongly encourage you to consult with your lawyer, accountant, or other financial advisor before finalizing your planned gift.
