Retirement Plans, Cash, and Additional Options
Retirement funds represent a major personal asset for most donors. Donors enrolled in a Registered Retirement Savings Plan (RRSP), or who have already converted their RRSP to a Registered Retirement Income Fund (RRIF), can make a charitable gift of all or a portion of any retirement funds remaining at death.
Gifts of Cash
Cash is the simplest and most common form of gift. It can be put to immediate use by the charity and results in a charitable donation receipt for the donor. Gifts of cash - whether by cheque, money order, credit card, or currency are the most familiar way to contribute to a charity.
Glenbow Museum may accept two types of irrevocable charitable trust arrangements:
- A remainder trust that pays the donor income from the assets (real estate, securities, cash) for life or for a number of years, and then distributes the principal to Glenbow Museum.
- A donor contributing a residual trust donates an asset (personal residence, work of art, investment property) today, but retains the use of it during his lifetime.
Both remainder and residual trusts are eligible for charitable tax receipts. Glenbow Museum encourages donors to consult a lawyer or financial advisor before establishing a trust. Glenbow Museum retains the right to decline a gift not involving professional consul.
Charitable Gift Annuities
A gift annuity is an irrevocable transfer of money or other assets to Glenbow Museum. A portion of the principal is used to purchase an annuity from an insurance company. The cost of the annuity is based on the donor's age and income requirements. The remainder of the principal is considered an outright gift used for the purpose specified by the donor. The annuity pays the donor a guaranteed income for a specific time.
Gifts of Real Estate
Gifts of real estate may include a house, condominium, vacation home, apartment building, commercial building, farm, or land.
For more information on giving to Glenbow, please contact:
President & C.E.O, Glenbow
All inquiries are confidential and without obligation.
The purpose of this web page is to provide information of a general nature only. Advice from your own legal and financial counsel should be sought when considering any gift arrangement.