Gifts for the Future

Bequest

The most common type of deferred planned gift is the charitable bequest. It can be as simple as a sentence or two in your will, or a codicil appended to your present will. Your bequest may specify a certain sum of money:

"I give to the K-W YMCA Endowment Foundation or its successors (Charitable Reg. # - 10757 2687 RR0001) the sum of $_________ to be used for its general purposes"  

"I give to the YMCA of Cambridge Foundation or its successors (Charitable Reg. # - BN 84685 0030 RR 0001) the sum of $_________ to be used for its general purposes"

OR you may select one of the existing funds and insert it in place of general purposes.

If you prefer, you may give a particular asset--"my shares of XYZ stock"--or a portion of the residue of your estate after other bequests have been paid--"50% of the rest, residue and remainder of my estate."

In consultation with the Planned Giving team at the YMCA, you may designate a particular purpose for which your bequest is to be used, and you may indicate whether your bequest is to be available for immediate use or held as an endowment. Your estate will be entitled to a donation receipt for the full value of the bequest, which may significantly reduce the tax payable with your final income tax return.

Life Insurance

A gift of life insurance can provide a significant future gift to the YMCA at a very modest, present cost to you. You may make such a gift with either an existing policy or a new one. You may also give the death benefit of an existing policy simply by naming the K-W YMCA Endowment Foundation or YMCA of Cambridge Foundation as the beneficiary. However, to receive a current tax benefit, you must also transfer ownership of the policy to the K-W YMCA Endowment Foundation or YMCA of Cambridge Foundation, which entitles you to a donation receipt for the cash value of the policy. At your death, the foundation will receive the proceeds.

RRSP's/RRIF's

You are able to make a substantial difference to the communities the YMCA serves throughout the Kitchener-Waterloo area by donating all or a portion of the funds in your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF). Your estate will be entitled to a donation receipt, which may significantly reduce the tax payable with your final income tax return.

To ensure that your gift is directed appropriately, you must clearly indicate the K-W YMCA Endowment Foundation or YMCA of Cambridge Foundation, not YMCA.