Plan a gift for the future

Planned giving through strategies such as bequests in your will, life insurance, annuities, gifts of property or securities, and trusts allow you to create a lasting legacy at IMRIC. Planned gifts may allow you to make a significant contribution to the Institute, with the added potential advantages of tax savings.

You have many options for planned gifts, including:

  • Give through life insurance — In many cases, giving through life insurance enables donors to give far more, at less cost, than would be possible otherwise — often with significant tax advantages. When you donate through life insurance, you can give the Institute access to the policy's cash value during your lifetime, and make a substantial gift later on in the form of the policy's death benefit.

    Giving through life insurance can be an excellent strategy for young people whose insurance premium costs are generally low. It can also be an effective option for older people who have existing policies and little need for life insurance.

    How giving through insurance works

    You can choose to buy a policy and name IMRIC the owner and beneficiary, donate an existing policy, or make your estate the beneficiary of your policy and leave the proceeds to the Institute in your will.

    Buying a policy

    When you buy an insurance policy and name IMRIC the owner and beneficiary, you can take advantage of immediate tax relief. You provide the Institute with a gift each year to cover the premium costs, and you receive a tax-creditable receipt for this amount.

    Donate an existing policy

    You can donate an existing life insurance policy to IMRIC and receive a tax-creditable receipt for your gift for the premium costs each year. If the policy is paid up, you will receive a receipt for a portion of the policy's cash value. To donate an existing policy, you will need to change the beneficiary to the Institute, and you may require the approval of the original beneficiary.

    Donate insurance benefits through your estate

    You can name your estate the beneficiary of your policy, and leave the proceeds to IMRIC in your will. Your estate then receives a tax-creditable receipt for your donation. Using this strategy, however, means that your donation could be subject to probate fees

  • Give through property or securities — Perhaps you have an asset — such as property, securities, real estate, bonds, or art — that you no longer want or need. Perhaps you're concerned about the potential impact of capital gains tax on your estate. You can donate assets to IMRIC for immediate or future tax relief.

    How giving gifts of property or securities works

    You can donate gifts of property or securities to IMRIC now and receive a tax-creditable receipt for the value of your donation. Or, you can assign these gifts to the Institute in your will; your estate will receive a tax-creditable receipt for the value of your gift.

    Gift of Securities — elimination of capital gains tax

    Today there is a greater incentive for the donation of stocks to registered charitable organizations as the capital gains tax on donations of securities has been eliminated. When a gift of publicly traded securities is made to a charitable organization, the donor receives a substantial tax incentive, making such a gift highly attractive and more cost effective than ever.

  • Give through annuities — Gift annuities allow you to make a substantial donation to IMRIC, while at the same time providing you with virtually or entirely tax free guaranteed income. Depending on your age, you may also receive a charitable donation receipt in the year of the gift. The Institute takes on the job of investing and managing the donated funds for you.

    How gift annuities work

    You make a donation to IMRIC, which uses the gift to buy an annuity that pays you a guaranteed income, either for a specified period of time or for life. Depending on your age, your income from the annuity is virtually or entirely tax free. This is because the government regards annuity payments, provided they total less than the amount paid for the annuity, as a return of capital, and therefore not subject to tax. Any portion received above the amount paid for the annuity would be subject to your personal rate of tax.

  • Establish a remainder or residual trust — Like annuities, a remainder trust or residual interest gift can ensure your income or the use of a property during your lifetime, while also providing tax relief.

    How remainder trusts and residual interest work

    Remainder trusts 

    A remainder trust is usually funded with cash, equities, bonds, or real estate. You transfer your ownership of these assets to a trust. You retain the income for a specified period, usually your lifetime or the lifetime of a beneficiary, such as a spouse. At the end of this period, the "remainder" becomes the property of the University. A gift of this type will reduce the probate fees on your estate, since these assets no longer form part of your estate.

    Residual interest

    Gifts of residual interest usually involve the donation of a property such as a house. You would retain the use of the property for a predetermined period, usually your lifetime, and receive a tax credit for the present value of the property. At your death, or at the end of the specified period, the property would convert to the control of IMRIC. insurance.

    We urge you to consider making such a gift to the Institute of Medical Research Israel-Canada.  For more information please contact CFHU's Executive Vice President at 416.485.8000, or email the Executive Vice President.

Support Us

For more information, please call Merle Goldman, Associate National Director, Canadian Friends of the Hebrew University of Jerusalem, at 416-485-8000