Planned Gifts Continue the Tradition of Caring
Planned Giving is one of the most powerful philanthropic tools
available to you today. It's also one of the most popular. More and
more people are coming to realize the impact that this sort of
legacy has on the university community - its students, its
teachers, its researchers, its graduates. The benefits are
immediate and far-reaching.
Planned giving is, in essence, deciding in advance what happens
to your estate. It puts you in control. Whether it's cash,
securities, life insurance, real estate or gifts in kind, a
well-planned gift ensures your legacy makes a statement about the
things that are important to you.
A planned gift to the School of Nursing at Memorial University
is, of course, a tremendous benefit to the school, helping our
students, teachers and researchers stay well educated and
competitive. It can also deliver significant advantages to you and
your heirs. These include:
There are as many reasons to give as there are givers. But
whether your reasons are altruistic or simply tax-related, the
benefits of planned giving are powerful ones.
- Satisfaction - Knowing that you are giving back to your school
may hold special significance for you.
- Control - Reducing the risk that your wishes will be hindered
by circumstances beyond your control.
- Peace of mind - Ensuring that family and financial matters are
- Convenience - Putting your investment in the hands of
professional managers, so you don't have to worry about ongoing
- Security - Finalizing your charitable choices now instead of
later - or never. Too many people postpone or never realize
- Financial - Lowering your current taxes and/or lowering the
taxes your estate will be required to pay.
Ways of giving
Everyone benefits from the power of a planned gift - you, your
family and your university. Of course, we want to ensure that each
of these groups receives the maximum benefit possible. Which is why
Memorial University offers a wide range of planned giving
arrangements. Which way of giving best suits your goals?
The easiest way for you to assist Memorial is through your will.
The university can accept and provide charitable receipts for both
cash bequests and gifts in kind. We can also assist with drafting
- Life Insurance Policy
A powerful gift with big benefits. Small annual installments can
mean a substantial gift for the university, plus your estate is not
affected and the gift is not diminished due to taxes, probate or
administration fees. Choose to donate with an existing policy or a
- Charitable Remainder Trust (CRT)
A CRT is an irrevocable trust that provides income for two sets of
beneficiaries: you and the university. You receive income for a
specified period (or for life) from the trust. The university
receives the principal of the trust once that period ends.
- Gifts in Kind
The university is also able to accept donations of real property
such as stocks, bonds, artwork, houses, land, books and other
assets. Gifts in kind may be made as outright gifts, through a will
or in trust.
A high potential option - both for the amount you can give and the
tax benefits you receive. You simply provide in your will for the
same amount to be bequeathed to the university.
- Real Estate
Perhaps not the traditional way of giving, but a very effective one
nonetheless. Land or buildings, commercial or private, make
excellent charitable gifts. The property can either be used by the
university or sold, with the proceeds used for purposes designated
by the donor.
Areas of need
Now is the time to consider how your planned gift can make a
difference. Memorial University - your university - is at a very
exciting and innovative stage in its history. And there are many
ways you can play a role in its future.
- Scholarships and Awards - reward achievement.
Establish a scholarship endowment in your name or in the name of
the person you wish to memorialize. A gift of $22,000, depending on
interest rates, could provide an annual scholarship of $1000 in
- Fellowships - promote excellence. Recognize
the continued pursuit of innovation by funding the work of
full-time graduate students with high academic standing.
- Research - support possibility. Create an
endowment to help fund the ideas and advancements that are
unfolding every day in School of Nursing's labs and archives.
Support an area that means something to you like research that will
combat disease or improve the quality of life for patients.
- Equipment - ensure quality. Your bequest can
go a long way towards the replacement and upgrading of School of
Nursing equipment needed for research and teaching.
- Library - increase resources. Designate funds
to support particular portions of a library's collection (e.g.,
Clinical Practice or Nursing Archives) or for the discretionary use
of the university librarian.
- Discretionary - fulfill a need. Allow your
gift to be directed to an area of essential and immediate need for
which little or no funds are available.
- Facilities - build, improve and expand.
Bequests are always welcome for major renovations to the School of
Nursing classrooms and labs, as well as the construction of new
What you need to know
Taxes in Canada
Bequests are tax creditable and are not subject to estate taxes
or succession duties except in the province of Quebec. Revenue
Canada regards such gifts by will as having been made in the
taxation year of the person's death. The taxable income of your
estate can therefore be reduced by the amount of your bequest to
the extent of the maximum allowable deduction for the current
Taxes in the U.S.
Donors in the United States should know that tax laws in that
country stipulate that they must be alumni or relatives of alumni
to receive tax benefits. Other contributors who wish to receive
similar credit may designate their bequest to the Friends of
Memorial University of Newfoundland in Washington, D.C.
All bequests should be given free from restrictions based on
national or ethnic origin, colour, religion, sex, age or mental or
How Funds are Handled
Endowment and bequest funds held by the university are pooled
for investment purposes. The investments are professionally managed
and are supervised by the Finance Committee of the Board of
Regents. All pooled funds share in both capital growth and annual
income from earned interest.
For more information, contact:
School of Nursing
Memorial University of Newfoundland
St. John's, NL
Canada A1C 5S7
tel. (709) 777-8977
fax. (709) 777-7044
*All donations to Memorial University are tax deductible