The Serra Foundation of Canada Planned Giving Program thanks those who remember Serra Foundation of Canada in their planned giving and also reaches out to Serrans asking the question: Are you interested in ensuring future vocations to priesthood, religious life and the diaconate in Canada through planned giving? Planned giving ensures not only the future viability of the Foundation but also the Foundation’s continued financial support of vocations in the age of our grandchildren and their progeny.
Planned giving is a deferred gift – a way of expressing your wishes today about how your resources are to be used later. Although there are many types of planned gifts a bequest or gift made in a will is the most common form of deferred gift.
All bequest/trust funds received by the Foundation will be held as restricted invested capital funds under the Planned Giving Program with the annual income therefrom being designated to be used by the Foundation in furtherance of Serra’s mission of promoting and affirming vocations in Canada.
A bequest to Serra Foundation of Canada, a registered charity, entitles an estate to a charitable tax receipt for the full value of the bequest – which will reduce any taxes payable by an estate.
The following is suggested language in a will for a bequest:
- A bequest in your will or a gift of insurance also makes it much easier to create a lasting giving to the Serra Foundation of Canada and can take different forms.
- particular asset or property;
- Specific Bequest is a provision in your will in which you allocate a specific asset to the Serra Foundation of Canada. It could be stock, jewelry, a car or any other specific type of asset;
- General Bequest is a gift of a specific dollar amount in your will rather than a specific type of asset;
- Residuary Bequest is when your Executor distributes property based on the different types of bequests you have included in your will and there’s still some assets and property left over. Such residual assets can be gifted through a Residual Bequest in your will;
- Demonstrative Bequest includes specific instructions for how a particular asset or dollar amount should be distributed. For example, “I hereby leave $10,000 to the Serra Foundation of Canada to be paid from my investment account at CIBC”;
- Percentage Bequest is for those situations where there is concern about fluctuations in the value of your estate or the assets named in your estate. In those situations, you should consider making a Percentage Bequest as opposed to a dollar bequest, for example: “I hereby bequeath 15% of my estate to the Serra Foundation of Canada”;
- Contingent Bequest is for those situations when you want a bequest to be fulfilled when certain conditions are met, for example: “I bequeath $25,000 to my grandson, Malcolm Smith, provided that he graduates from a recognized university in Ontario before the age of 25”;
- a Foundational Bequest is a Direction or a Commitment left to a family foundation for the distribution of charitable funds to the Serra Foundation of Canada.
Thank you to our Legacy Donors:
In honour of their surviving family, every Serran remembers and recognizes the contributions of the following legacy donors, both from prayers for vocations as well as for their legacy financial support for seminarians:
Fredd Fromm (Serra Club of Toronto West)
John Baycroft (Serra Club of Toronto West)
Bernard Smith (Serra Club of Toronto West)
Stephan Eperjesi (Serra Club of Kitchener-Waterloo)
Wallace Bedolfe (Serra Club of Toronto Downtown)
Bill Bernhardt (Serra Club of Kitchener-Waterloo)
Alfred and Anita Browne (Serra Club of Toronto East)
Serra Foundation of Canada Legal Information:
Legal Name: Serra Foundation of Canada
Registered Charitable Number: 86237 6050 0001
Registered Office Address: 100 New Park Place, Suite 1400 D’Agostini, Vaughan, Ontario, L4K 0J3
Mailing Address: 244 Gracefield Avenue, Toronto, Ontario, Canada, M6L 3C2
Let us know if you have named Serra Foundation of Canada a beneficiary in your will. You may choose to remain anonymous, and can modify or revoke your gift at any time.
Serra Foundation of Canada recommends seeking professional advice when considering a charitable gift. If you already have a will, an amendment can be added to designate a gift.
Thank you for considering Serra Foundation of Canada in your will and estate planning. For more information please email: firstname.lastname@example.org.