New Stride would be pleased to provide support and guidance in the setup of any of the following gift types.
Life insurance
Gifts of Life Insurance can be made in three ways:
- An existing policy with cash value (i.e. a permanent policy) can be signed over to New Stride;
- A new policy (whole life) can be taken out by individuals or couples on their lives, or the life of a loved one, and gifted to New Stride;
- Make New Stride the beneficiary of a life policy (including a policy for your workplace).
If you surrender a policy to New Stride, you will receive a tax receipt for the cash surrender value. If you make New Stride owner of a policy, you will receive a tax receipt for the premiums that you pay.
RRSPs and RRIFs
You can make New Stride the beneficiary of any RRSPs or RRIFs that you have. Simply visit the institution holding these investments and ask them for a change of beneficiary form, and insert the New Stride Thoroughbred Adoption Society as your new beneficiary.
Charitable Remainder Trust
Charitable Remainder Trusts (CRT) are irrevocable gifts of capital. The income from the CRT capital is invested and the income paid to the donor for the rest of his/her life, and on his/her death the capital is paid to the Society. For donors who have sufficient capital and incur a heavy tax burden, CRTs are an especially attractive way of supporting New Stride, while receiving an immediate tax receipt for the discounted value of the donated capital. This receipt will typically offset any income tax payable for up to six years.
On the donor’s death, the capital is paid directly to New Stride and does not form part of the donor’s estate, thus saving significantly on probate and executor’s fees. Be aware that, because CRTs are formal legal documents, there are start-up professional costs, and annual trustee fees.
Gift of securities
With changes to the taxation of charitable gifts of securities, it is now even more tax-advantageous for you to make a gift of stock, and provides another way for you to save and protect Thoroughbreds in need.
Donations of publicly listed securities (i.e. shares, bonds or units of mutual fund trusts), transferred to New Stride, unlike gifts of cash, are fully exempt from capital gains tax. In addition, you will receive a charitable tax receipt for the full market value of the donated securities on the day that the shares are received.
To make a gift of securities, the easiest and most cost effective to do so, is transferring the gift directly to New Stride. Please contact us directly to conduct the transfer.