They’ve Finally Found A Hero….You.

When you include a gift to the SPCA St. John’s in your estate plans, you are helping thousands of animals in desperate need of shelter, care and compassion. In addition to providing animal sheltering, rehabilitation and adoption services, your legacy will help us work with communities on the Avalon Peninsula to promote responsible pet ownership and encourage spaying and neutering.

It is caring people like you who keep our shelter open and helping us create kinder communities.

There are many ways to make a legacy gift to the SPCA St. John’s, look at the options below for more information.

Bequest

A bequest is simple to arrange and will not alter your current lifestyle in any way. There are several options available to suite your needs.

Residual Bequest Language:

A residual bequest comes to us after your estate expenses and specific bequests are paid:

I give and devise to The Society for the Prevention of Cruelty to Animals (Newfoundland and Labrador)] located in St. John’s, in the Province of Newfoundland and Labrador, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund, bursary or program).

Specific Bequest Language:

Naming the SPCA St. John’s as a beneficiary of a specific amount from your estate is easy:

I give and devise to The Society for the Prevention of Cruelty to Animals (Newfoundland and Labrador)], located in St. John’s, in the Province of Newfoundland and Labrador, the sum of $___________ to be used for its general support to be used for its general support (or for the support of a specific fund, bursary or program).

Contingent Bequest Language:

The SPCA St. John’s can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:

If (insert name) is not living at the time of my demise, I give and devise to The Society for the Prevention of Cruelty to Animals (Newfoundland and Labrador)], located in St. John’s, in the Province of Newfoundland and Labrador, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund, bursary or program).

Retirement Plan Giving

Making a charitable gift from your retirement plan is simple.  Request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify the SPCA St. John’s. We can also assist you with the proper language for your beneficiary designation to the SPCA St. John’s.

You may name the SPCA St. John’s as a beneficiary of your RRSP or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.

Retirement Plan Beneficiary Language:

Should my death occur before I receive the benefits of my Registered Retirement Saving Plans I declare that the SPCA St. John’s, located in St. John’s, in the Province of Newfoundland and Labrador, is my designated beneficiary of any RRSPs, RRIFs or similar plans within the meaning of the Income Tax Savings Plan Act.

Or:

Should my death occur before I receive the benefits of my Registered Retirement Saving Plans I declare that my __________, if living at the time of my death, is my designated beneficiary of any RRSPs, RRIFs or similar plans within the meaning of the Income Tax Savings Plan Act.  If, however, my __________ is not then living, and if I have not otherwise named beneficiaries in my RRSPs, the proceeds of my plans are to be paid to my Trustee and distributed to The Society for the Prevention of Cruelty to Animals (Newfoundland and Labrador)] located in St. John’s, in the Province of Newfoundland and Labrador, for its general support (or for the support of a specific fund or program).

Life Insurance

When it comes to making gifts to the SPCA St. John’s through life insurance there are several options with different benefits to you. Check with your lawyer or estate planner to find out which one works for your needs.

  • Designate the SPCA St. John’s as the beneficiary of a life insurance policy: The most straightforward approach to life insurance gifts.  You are the owner of the policy and you designate the SPCA St. John’s as the beneficiary. In this scenario, you would maintain control of the policy, but the SPCA St. John’s collects the insurance proceeds upon your death. The death benefit qualifies as a tax credit on your final income tax return. If you have an existing life insurance contract, you can simply change the beneficiary to your charity of choice.
  • Name your estate as the beneficiary: This scenario is similar to the first scenario in that you are the owner of the policy. However, instead of naming the SPCA St. John’s as the beneficiary, you name your estate as beneficiary and simply leave instructions in your will that the proceeds of the life insurance policy will be paid to the SPCA St. John’s.  
  • Transfer ownership of the policy: In this scenario, if a life insurance contract is set up so that the SPCA St. John’s is the owner of the life insurance policy, the premiums you pay on the policy are eligible for a tax receipt.

If you have an existing life insurance policy with cash values, you can transfer ownership to the SPCA St. John’s and name them as beneficiary.

Charitable Gift Annuity

A Charitable Gift-Plus Annuity allows you to make a gift to support the SPCA St. John’s while at the same time receiving a guaranteed predetermined income for life. Income from a charitable gift annuity can have tax advantages.

It may be an ideal choice if you are concerned about the amount of tax that you are currently paying on your interest-bearing investments. Contact your financial advisor to inquire. Annuities are high quality, guaranteed investments that provide regular payments to you and/or their spouse.

Gifts of Securities

Donating securities to the SPCA St. John’s allows you to eliminate capital gains tax on publicly traded securities. Capitals gains are the increase in the value of your securities over the price you paid at purchase.

When you sell your shares for cash, you’re responsible for the tax due on the gain, even if you plan to donate the proceeds from the sale. If you pay the tax out of those proceeds, there’s less money left to donate. Your charity receives a smaller donation and you have a smaller donation to claim for your charitable tax credit at the end of the year.

But when you donate your securities directly to the SPCA St. John’s, those capital gains aren’t subject to tax. This means the SPCA St. John’s can receive a larger gift, and you’ll benefit from a tax receipt for the full value of your eligible securities or mutual funds.

 

Jennifer Cummings

Development Coordinator

[email protected]

709-682-7963