Your Legacy
The life you’ve built says a lot about you: Your values. The impact you’ve made. Your dreams for the future. A legacy gift can impower the next generation of change-makers – without affecting your present lifestyle.
There are a number of ways you can give to Covenant Bay Bible Camp and make a lasting impact.
Gift in Will
Make Covenant Bay Bible Camp Society a beneficiary in your Will and know that your legacy will live on for generations. All it takes is a simple clause in your Will. In addition, a tax receipt for the full amount of your donation will be issued and may offset capital gains or other taxes payable to lessen the financial cost on your estate.
Securities
A gift of securities to Covenant Bay Bible Camp Society is one of the most financially sound ways to support our programs. When you donate stocks, mutual funds or other types of marketable securities to a charity, you pay no capital gains tax. You’ll also receive a tax receipt for the full amount of the gift.
For electronic transfer, please contact your broker and fill out a Securities Transfer Form.
Life Insurance
Gifts of life insurance are a great way to make a substantial donation for the relatively low cost of the premium payments. You can donate a policy you already own, make Covenant Bay Bible Camp Society the beneficiary of a joint policy held with your spouse, or buy a new policy to donate.
Retirement Funds
Retirement funds are likely among the most heavily taxed assets you own. Naming Covenant Bay Bible Camp Society as a beneficiary can be an effective way of creating a tax-smart estate plan. By naming Covenant Bay Bible Camp Society as a beneficiary, you retain ownership of the funds, receive a tax receipt for the full amount donated, avoid probate fees, and reduce your overall estate taxes. You can have a tremendous impact when you donate to Covenant Bay Bible Camp Society programs that provide a safe and fun environment for children, youth and families to hear the gospel message and be transformed.
Endowment Funds
You can create an endowment fund by donating substantial gifts of cash or assets. Endowment funds may be pooled, and individual endowments may require a minimum contribution. When you create an endowment, your donation is invested for a minimum of 10 years, and the income is used to support Covenant Bay Bible Camp Society programs. You may direct your gift to a specific campaign such as a capital project, or you may allow us to use the funds where most needed. Either way, you’ll make a lasting impact for children, youth and families for generations to come.
Benefits of planned giving
Choosing to leave a gift in your Will has significant benefits:
Tax Relief
Depending on the type of asset, leaving a gift in your Will to Covenant Bay Bible Camp Society can significantly reduce estate taxes.
Flexibility
Your gift can be for any specific amount, percentage or residue of your estate.
Peace of mind
You can make adjustments to your Will at any time.
Cost-effective
There are no extra out-of-pocket costs. Your current income won’t be affected.
Note: This information is not intended to provide any financial, legal or tax-related advice. You are encouraged to seek independent professional advice from a qualified accountant, lawyer, or financial advisor to ensure proper planning and donation administration.
Leaving a gift in your Will isn’t complicated when you follow these steps
- Call, email or chat with us!We’ll guide you in the right direction. Call 1.800.714.3280, email plannedgiving@worldvision.ca or chat with us using Live Chat.
- Talk to your loved onesThis is an important discussion. Let them know your wishes and reassure them that you’re not choosing between family and World Vision Canada.
- Speak to your professional advisors A call to the experts will get you started down the right path, with knowledgeable advice.
- Update your Will Decide if you want to leave a percentage or a specific amount of your estate to World Vision Canada, and update your Will with the recommended wording from your professional advisor.
- Let us know your decision You’re under no obligation, of course, but letting us know that you’ve chosen to leave a gift to World Vision Canada in your Will allows us to plan how to use those additional funds most effectively.