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A planned gift is a charitable donation arranged during a donor’s lifetime but not available to Serve! until some time in the future. A planned gift is made from one’s assets, commonly by way of: - a bequest in a will
- life insurance
- annuity or retirement plan
- real estate - qualifying securities
- or other non-cash assets
In making a planned gift, you can take pleasure and pride in knowing you will have a meaningful influence on generations of Serve! youth. Your gift will help to strengthen Serve!’s endowment fund, which provides individual support and bursaries, funds for curriculum enrichment and more. Your gift will ensure that Serve! can meet the demands of an ever-changing world.
What are the Financial Benefits?
Bequests and many other types of planned gifts can provide meaningful tax benefits to the donor. A planned gift to Serve! may significantly reduce, by means of a tax credit, the income tax payable by the donor or the donor’s estate. It may eliminate or reduce the capital gains that arise when capital property is donated. We highly recommend that you consult the appropriate tax and legal professionals to discuss giving options that best suit your personal financial situation.
How do I make a Planned Gift?
There are many types of planned gifts that can be designated to Serve!
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Specific request – a specific amount of money or specific assets, such as qualifying securities, real estate or personal property is designated in one’s will |
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Residual Bequest – A designated percentage of what remains in the estate after all other bequests and expenses have been made |
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Contingent Bequest – A bequest is given only in the event of the death of other heirs named in a will |
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Annuity/Retirement Plan – Serve! is designated as the beneficiary of the remainder of an annuity or retirement plan |
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Insurance Policy – Serve! is designated as the beneficiary or owner and beneficiary, in whole, or in part, of an insurance policy |
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Other – Other planned gift opportunities such as charitable gift annuities and gifts of residual interest can make a significant positive impact on a donor’s financial situation in later years and to one’s estate at death. |
Should I designate my Planned Gift?
An unrestricted gift to the General Endowment Fund enables Serve! to better prepare for the unpredictable and constantly changing needs of today’s youth. Named Endowment funds can be established with gifts of $25,000 or more. Please discuss your intention and interests with a representative of Serve!
Some donors prefer to earmark their contribution for a specific purpose. The inclusion of the following words will ensure that your wishes will be respected should circumstances relating to the use of your planned gift change in the future. “If Serve! judges the designated use of this planned gift no longer practical, then the Board of Directors shall use the bequest for the general purposes of Serve!, giving consideration where possible to the spirit and intent of the gift.”
Bequests through a Will
Your will is one of the most important documents you will ever prepare. It is more than a legal document, it is the opportunity to demonstrate your concern for loved ones and special friends in a meaningful and lasting way. Your will is an instrument of life. It allows your interests and desires to be carried out even when you’re gone. Whether you are writing a new will or updating an old one, it is easy to include Serve!
We strongly urge you to seek legal advice when preparing your will. A will needs to be technically and legally correct to ensure that your wishes are accurately carried out. You can easily change your existing will at any time, simply by adding a “codicil”, for minor changes or additions. For instance, if you already have a will and you would like to include a gift to Serve!, you could attach a codicil. Ask your attorney to include one of the following statements in your will, “I give, devise and bequeath to Serve!, Charitable no. 14090 4855 RR0001, (i) X percent of my estate, or (ii) the sum of $X, to be used by the said organization to further their goals and objectives.”
A Gift of Life Insurance
Giving a new or existing life insurance policy in Canada to Serve!, may be the biggest gift you are ever able to make to youth in need. You will receive a tax receipt for the value of your transferred policy and for your subsequent yearly premium payments (if any) and reduce your income tax while making a significant gift to Serve!
Donating a New Policy
Donors may choose to purchase a new policy designating Serve! as owner and beneficiary. You may pay the premiums directly to the insurance company or you may donate the funds to Serve!, who in turn will make the premium payments. Both methods qualify as a charitable gift and Serve! will send you an annual tax receipt for the full amount of the premiums funded by you. This receipt will entitle you to a tax credit, thus reducing the amount of income tax you owe.
Donating an Existing Policy
You can easily assign a paid up life insurance policy if it has outlived the risks against which it once provided protection, naming Serve! as the registered beneficiary. As personal circumstances change, life insurance policies that were once important may no longer be needed. Perhaps your children have grown up and are on their own, or the mortgage is paid.
By absolutely assigning your policy to Serve! as an irrevocable gift, you receive significant tax savings immediately. You will receive a tax receipt for the cash surrender value of the policy less outstanding policy loans at the time of the gift (if any) and further tax receipts for any additional premiums funded by you and for any accumulated dividends and interest that are assigned pursuant to the policy.
Instructions for Donation of Securities to Serve!
Serve! Securities Account No. is available upon request, please contact Alison Caird at Serve! Organizational Official Name: Serve Canada Youth Service OrganizationRegistered Charity No. 14090 4855 RR0001
How the donation can be made is dependent on what form it is in, either 1) Street/Nominee form, or 2) Physcial Certificate form.
1) Street/Nominee form
- Initiate from your brokerage firm a transfer out to Serve!’s ScotiaDirect Regular Account
- Serve!’s account number is: 557-99254
- Once confirmation of transfer has been received by Serve!, a Tax Receipt will be issued
- Tax Receipts will be issued at the value of previous day’s close
2) Physical Certificate form
- Write a Letter of Direction that includes Serve!’s account and registered charity numbers (sample attached)
- Sign and date the letter
- Have your signature witnessed/verified at a local Scotiabank branch authority, if being sent by registered mail or couriered
- Send by registered mail and/or drop off your Letter of Direction to:
ScotiaMcLeod Direct Investing
Attention: Operations Department
Scotia Plaza
40 King Street West, 5th Floor
Toronto, Ontario
M5H 1H1
 Download Letter of Direction (sample)
3) Questions
Can be directed to ScotiaMcLeod Direct Investing at: (800) 263.3430, or Mark Wilson, Serve! Interim Treasurer at: (416) 359-4447 Gifts of Property
Any property with a cash value determinable at the time of transfer can be gifted to Serve! In return, your charitable gift can be used to reduce your taxes now. An irrevocable transfer of property in the form of qualifying securities, real estate or personal possessions such as jewellery or works of art enable you to receive a tax receipt for the full value of your gift.
Again, we highly recommend that you consult the appropriate tax and legal professionals to discuss giving options that best suit your personal financial situation.
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Donors & Sponsorship 
