Donating Registered Retirement Savings Plans (RRSPs) or Registered Retirement Income Funds (RRIFs) allow you to create a legacy for The Friends of Algonquin Park, once your needs and those of your loved ones have been met.
If you die without a surviving spouse or qualifying dependants, the full remaining value of your RRSP or RRIF is added to your income in the year of death and your estate must pay the taxes. Donating all or part of an RRSP or RRIF to The Friends of Algonquin Park is a very effective way to reduce the taxes payable by your estate.
A gift of registered assets will enable you to fulfill dual goals of supporting your favourite charity while reducing the amount of taxes that your estate would have to pay. If the RRSP or RRIF has The Friends of Algonquin Park as the direct beneficiary, the estate will receive a donation receipt for the entire value of the plan. The entire value of your RRSP or RRIF can be given to The Friends of Algonquin in the year of death with no tax implications.
Two Ways to Donate
There are two ways to donate the proceeds of an RRSP or RRIF they are:
- Name The Friends of Algonquin Park as the direct beneficiary of your RRSP or RRIF. Upon your death the proceeds would be paid directly to The Friends of Algonquin Park.
- Name your estate as the beneficiary of your RRSP or RRIF and leave instructions in your will to donate all or part of the RRSP or RRIF to The Friends of Algonquin Park. You may specify a percentage of the RRSP or RRIF or a particular dollar amount to be donated.
To discuss your donation of registered assets, please contact:
The Friends of Algonquin Park
Whitney, Ontario K0J 2M0
Phone: (613) 637-2828 ext. 239
Fax: (613) 637-2138
- Gift of Real Estate
- Residual Interest
- Charitable Remainder Trust
- Gift of Life Insurance