Grandmothers hug at ROTOM in Uganda (Photo by Laura Delaney)

Legacy Giving

Ways to Make a Legacy Gift (Bequests, Life Insurance, RRSPs/RRIFs, and Securities)

There are numerous ways for donors to achieve their financial and charitable goals, benefiting themselves, their loved ones, and the larger community. 

1.  Charitable bequests (A Gift in Your Will)

A simple method to leave a legacy is to make a bequest in your will.  A bequest is an instruction that a certain amount of money or particular item of property should be given to the Stephen Lewis Foundation at your death. Upon death, the Foundation will issue a donation receipt for the bequest that may result in significant tax savings in the year of death and the preceding year.

A bequest can take a number of forms:

  • A stated dollar amount
  • A percentage of your estate
  • A particular piece of property
  • The remainder of your estate after the payment of specific legacies to others

Here is a list of Sample Will Clauses for you or your lawyer to consider:

  • To give a specific amount: "I give to The Stephen Lewis Foundation, 100 - 260 Spadina Avenue, Toronto, Ontario, the sum of $10,000."
  • To give a percentage of the estate: "I give to The Stephen Lewis Foundation, 100 - 260 Spadina Avenue, Toronto, Ontario, five percent (5%) of the rest, residue and remainder of my estate."
  • To give a specific asset, such as shares in a company: "I give to The Stephen Lewis Foundation, 100 - 260 Spadina Avenue, Toronto, Ontario, 500 shares of ABC Co. Inc."
  • For a gift contingent upon a certain condition: "In the event that my brother does not survive me, I give to The Stephen Lewis Foundation…"
  • To designate your gift for a specific purpose: "I give to The Stephen Lewis Foundation, 100 - 260 Spadina Avenue, Toronto, Ontario, the sum of $5,000 to be used in support of work being done on HIV & AIDS in Zimbabwe."

Our official name and address:
The Stephen Lewis Foundation
100 – 260 Spadina Avenue
Toronto, Ontario, M5T 2E4

2.  Naming the Foundation as the Beneficiary of a Life Insurance Policy

A gift of life insurance will enable you to make a major gift through a policy you already own, or through a series of affordable premium payments. As with a direct bequest, you can name the Stephen Lewis Foundation as the beneficiary of a dollar amount, a percentage, or the remainder of these benefits, after the shares of other named beneficiaries. There are a number of ways to donate and plan your gift using life insurance.

  • Give an already paid-up policy and receive a donation receipt for the cash value of the policy.
  • Give an existing policy on which premiums are still being paid, and in return, receive a receipt for the cash value of the policy and subsequent premium payments.
  • Purchase a new policy, transfer ownership to the Stephen Lewis Foundation, and receive a tax receipt for all payments on the premiums.
  • Retain ownership of the policy and name the Stephen Lewis Foundation as the direct beneficiary and, when you pass away, your estate will receive a receipt for the face value of the policy.

3. Registered Retirement Savings Plans and Registered Retirement Income Funds

Gifts made through registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) are a popular way to offset taxes owing on funds at the time of death.

When you name the Stephen Lewis Foundation directly as beneficiary, your estate will save probate fees. Your gift is treated as a charitable donation in the year of death and is eligible for a tax credit on your final tax return, and/or the one immediately preceding the final return. The tax credit may completely offset the taxes payable on the proceeds.

4. Stocks and Securities

Recent tax changes have made it even more attractive to donate publicly traded securities. Under new rules in the 2006 federal budget, you may give stocks, bonds, futures and options, as well as shares in mutual funds and you will pay no tax on the capital gain. This greatly reduces the out-of-pocket expense of making such a donation.

Making such a gift is easy. Simply download our Securities Transfer Form and follow the instructions.

For more information on legacy giving, please contact:

Margaret Wright
416-533-9292 ext.235
1-888-203-9990 ext.235


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