Options for Giving

There are a variety of ways that you can support Summer Street clients and programs. We invite you to review the options and if you have questions please don't hesitate to contact our Executive Director, Bob Bennett at bob@summerstreet.ca.

 

Cash Gifts

Cash gifts are often given on anniversaries, birthdays or as memorial gifts in the name of a loved one. These can be in the form of cash, a cheque or donated on-line via the Canada Helps website. CanadaHelps is easily accessed through this site or summerstreet.ca. All these gifts are tax deductible.

 

A Gift in Your Will

This is a provision in your will or estate plan that would allocate all or a part of it to Summer Street. Any amount provided for in a will qualifies as a tax deductible for the estate, which will reduce the amount of tax when the estate is settled. Bequests of this nature have long-term value to Summer Street and its clients.

We understand that making a gift in your will is a very personal and private decision. Please discuss the possibility of helping Summer Street with your family and legal and/or financial advisors.  You may find that leaving a gift in your will is a good option for you and your family.

 

A Gift of Life Insurance

This is an arrangement in which you designate a life insurance policy to Summer Street as the “owner” or “beneficiary” of the policy.

In the case of Summer Street as the owner, any future premiums you may opt to pay on the policy are tax deductible and the cash value of the gift is tax deductible at the time your estate is settled.

In the case of Summer Street as the policy beneficiary, Summer Street receives the value at the time the estate is settled and the estate benefits from reduced taxes, however the premiums you pay are not tax deductible.

 

A Gift of Securities

You can give shares as a gift and receive a tax receipt on their current value without incurring any capital gains tax on accumulated value during the time the shares were owned. If the shares are sold however and then given as a gift to Summer Street, there is a capital tax payment to be made on the accumulated value.

 

A Gift of Property

This is similar to a gift of securities with the tax credit based on the current value of the property. The property could be a cottage, a painting or some other type of property. Once again there may be a capital gains tax on the accumulated value of the property that will have to be paid.

 

In-Memorial Donations

We appreciate that making a donation in memory of a loved one is a private and personal decision.  If you would like to make an in-memorial donation to Summer Street please let us know. Your donation will be promptly acknowledged according to your wishes.

 

Other Options

There are a variety of other gifts that include annuities, trusts and strip bonds, all of which bring benefit to Summer Street while realizing a tax credit to you. Please don’t hesitate to contact us to discuss the option that suits you best.