Planned Giving

    Two hands holding a growing plant

    People often wish that they could have such a meaningful impact on the future. Planned Gifts allow you to do exactly that. By creating your planned gift today for the future benefit of the MNjcc, you can ensure the financial future of the MNjcc in a substantial way without affecting your current lifestyle. And the tax savings your estate will receive could increase the amount of money you can leave to your loved ones.

    Wills are the central pillar of estate planning. A gift by will, known as a bequest, provides the opportunity to create a legacy for the MNjcc. Bequests are typically made as a:

    • Specific dollar amount, or a piece of personal property
    • Share or percentage of your estate
    • Residual amount, after other specific bequests are fulfilled
    Benefits of making a bequest:
    • Your estate receives favourable tax treatment, since you may claim the bequest on your final tax return, equal to up to 100 per cent of your net income in that year
    • You have use and control of the asset in your lifetime
    • A bequest may be altered if your circumstances change
    What you should know about arranging a bequest:
    • The MNjcc is pleased to assist you and your legal counsel by providing appropriate wording to ensure that your bequest is used as intend.
    • Please use the legal name "Miles Nadal Jewish Community Centre” in your bequest clause. Our Charitable Registration Number is 140344243 RR0001
    • If you are drafting a will or codicil, or contemplating a change to your will, you can make a gift by adding wording similar to the following:

    “I devise and bequeath (all/or ___%) of the remainder of my property to the Miles Nadal Jewish Community Centre to be used or designated as its board of directors in its sole discretion deems appropriate.”


    Gifts of Life Insurance

    A gift of life insurance is an inexpensive way to create a significant legacy at the MNjcc. A modest annual premium paid over time will result in a significant future legacy.

    Ways of gifting life insurance:
    • Donate an existing policy and receive a donation receipt for the net cash surrender value (less any outstanding policy loans) and any premiums paid (after the date of transfer of ownership to the MNjcc). A portion of the cash value is taxable, but would be offset by the donation tax credit
    • Donate a new policy and receive a donation receipt for any premiums paid after the date of transfer of ownership to the MNjcc
    • Assign the MNjcc as the beneficiary of your policy, or the life insurance policy from your employer, and your estate will receive a donation receipt equal to the death benefit proceeds that the MNjcc receives
    Benefits of making a gift of life insurance:
    • Receive a donation receipt
    • Cost-effective way of making a significant future gift with modest premiums today


    A Charitable Gift Annuity 

    Creating a Gift Annuity is a method you can utilize to develop a significant legacy for the future, while receiving a stable lifetime income stream, with an immediate tax savings.

    If you are 70 years or older and still require income from your assets, you can incorporate a charitable gift annuity as part of your estate plan. A charitable gift annuity allows you to give a gift, save tax, and increase your income.

    Here's how it works:
    • You make an irrevocable contribution of $10,000 or more for a gift, plus annuity
    • A portion of the funds, as determined by you (minimum 25%), becomes an immediate gift to the MNjcc
    • The remaining funds are used by the MNjcc to purchase an annuity from an insurance company, which will meet the gift annuity income obligation to you
    • The annuity income depends on your age and the size of your contribution
    The benefits of Creating a Charitable Gift Annuity:
    • Increased Income - The income from the annuity may be higher than a fixed income investment
    • No management required - The annuity requires no management on your part. You do not have to watch investments, interest rates, maturity dates and so forth. Your payments are sent to you automatically and regularly
    • Guaranteed income for life - The annuity is guaranteed; it will continue as long as you live, no matter what happens to the economy or interest rates
    • Spouses can benefit - You may choose a joint-and-survivorship annuity that continues as long as either spouse lives
    • Donation receipt - You will receive a donation receipt for the amount of the gift portion to the MNjcc, which will result in a tax credit



    Contact & Info

    750 Spadina Ave. (at Bloor), Toronto, Ontario M5S 2J2

    Phone: 416.924.6211
    Fax: 416.924.0422

    Charitable Registration Number:
    140344243 RR0001