- The Canadian Heritage Arts Society is a not-for-profit society registered in British Columbia. It is registered as a charity with Canada Customs and Revenue Agency #131341356RR0001.
- Donors will receive a tax receipt for all cash donations.
- The Canadian Heritage Arts Society prides itself on helping young talented individuals fulfil their dream. To this end, the Board works diligently at raising funds from many sources to keep tuition at an affordable price.
- The College depends on the generosity of its alumni, parents and friends to help support a tradition of excellence in conservatory training unique in Canada.
- Donors can participate in many ways by selecting where their gift should be awarded.
DONOR BILL OF RIGHTS
Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To ensure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the non-profit organizations and causes they are asked to support, we declare that all donors have these rights:
1. To be informed of the organization’s mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.
2. To be informed of the identity of those serving on the organization’s governing board, and to expect the board to exercise prudent judgment in its stewardship responsibilities.
3. To have access to the organization’s most recent financial statements.
4. To be assured their gifts will be used for the purposes for which they were given.
5. To receive appropriate acknowledgement and recognition.
6. To be assured that information about their donation is handled with respect and with confidentiality to the extent provided by law.
7. To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature.
8. To be informed whether those seeking donations are volunteers, employees of the organization or hired solicitors.
9. To have the opportunity for their names to be deleted from mailing lists that an organization may intend to share.
10. To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers.
Make your wedding or next special occasion even more meaningful by not only fulfilling the dreams of Canadian youth to have a professional career in the performing arts but also supporting the development of arts and culture in every province and territory in this country as well as around the world. Consider a gift to the Canadian College of Performing Arts (CCPA) when you are planning a wedding, birthday, retirement or anniversary.
Make a memorial gift. A notification of your gift will be sent by mail. Please provide the name and address of the next of kin.
THIRD PARTY EVENTS
Turn any activity into a fundraising opportunity and let your imagination run wild. From bake sales to golf tournaments to dinner parties. – the possibilities are endless to raise funds for CCPA. Call us at 250-595-9970 to let us know what you are planning and how we can provide you with our brochures.
GIVE THE GIFT THAT WILL LIVE ON FOR YEARS TO COME
As you plan your estate you may want to consider giving to the College. Fortunately, there are a number of ways you can ensure that your generosity lives on, while at the same time securing the maximum possible tax benefits for your estate.
EASY & EFFECTIVE
The simplest option is to leave the College a bequest in your will. It could be a sum of money or a gift in kind such as art work, securities or real estate – and you can give the College the freedom to use it as they see fit or direct your gift towards a specific project. Whatever you choose, your estate will receive a charitable donation tax receipt. Depending on the size and nature of your gift, you could eliminate all of the income tax on your final tax return. – and possibly on the return for the immediately preceding year as well.
There are also other options that may make more sense, both for you and the College. Some of these could allow you to make the donation now – and benefit for some or all of the tax credits –without having to surrender control of the asset.
GIFTS OF LIFE INSURANCE
Donating a Life Insurance Policy
While You’re Alive: Giving Generously Now and Enjoying the Tax Credit When you donate your life insurance to the College you ensure that the College receives the precise sum you wish to donate – the value of the policy upon your death.
There are three ways to donate your policy during your lifetime:
- As your family grows more independent, you may not require as much life insurance. Instead of cancelling an existing policy you can donate it to the College. You’ll receive a charitable tax receipt for the year in which you make the donation, based on the current surrender value of the policy plus accumulated dividends, but minus any outstanding loans. You’ll also receive a charitable tax receipt annually for any premiums you keep paying.
- You can donate a paid-up policy that you no longer require. You’ll receive a charitable receipt for the surrender value, plus accumulated dividends, minus any outstanding loans.
- You can take out a new policy for the Canadian College of Performing Arts. Although the policy has no current surrender value, if it’s structured properly , you will be eligible to receive a charitable receipt annually for the premiums you pay.
Our Investment consultants can help you select the best option, given your personal circumstances and goals.
Made at the Time of Your Death: Tax Credits to Reduce the Ultimate Tax Liability. As tax laws stand now, you cannot claim any tax credits during your lifetime if you name the College as the beneficiary of your life insurance (as opposed to donating the policy) or of your RRSP or RRIF. There are two ways, however, to ensure that the proceeds of your registered plan or life insurance will go to the College and your estate will benefit from a tax credit. You can name your estate as the beneficiary of the plan and make a bequest to the College in your will or you can name the College directly as a beneficiary.
CHARITABLE REMAINDER TRUSTS
You’ve made judicious investments and you’re living off of the interest without the need to dip into your capital. It may make sense for you to donate your capital to the College now. A Charitable Remainder Trust allows you to transfer the value of securities or other investments to a trust and continue to live off the income they generate. This donation to a trust is irrevocable. The College has no access to the capital during your lifetime and all interest, dividends and realized capital gains are paid to you as a taxable income. This advantage of this type of gifts is that the investments do not form part of your estate and will not be subject to probate fees of claims by creditors. You know that the College will receive your gift in full and you will receive a charitable receipt for a portion of your donation based partly on your age at the time of the donation.
CHARITABLE LIFE ANNUITIES
Let Your Gift Keep Working For You
A Charitable Life Annuity allows you to make a charitable gift now and continue to receive a lifetime income from the assets you’ve donated for you or for you and your spouse. This annuity income is tax-free to you as long as the amount you expect to receive during your lifetime (based on actuarial estimates at the time of your donation) is less than the amount you’ve donated. A charity receipt may also be available depending on your life expectancy and your elected annuity income
The College accepts gifts-in-kind if they can be used in support of the mission of the school. In most cases, these gifts take the form of inventory given through businesses owned by our friends. A tax receipt may be available with proof of current market value