Bequest in your will
Leaving a bequest or a life insurance policy to the Osprey Community Foundation ensures that your generosity will benefit the community for generations to come. It’s also a fairly painless way to give. For most people, it provides a tax benefit. At your death, your estate is entitled to a donation for the full value of your bequest.
Many of our donors establish a fund during their lifetime in anticipation of a future bequest gift, as it provides peace of mind and flexibility for their estate planning. Donors may establish a Legacy Fund with an initial minimum donation of $1,000 and a commitment that with all future gifts plus bequests and recapitalizations of income, the Fund will reach a minimum threshold of $10,000. Your will can then specify that the bequest gift should be added to that existing fund. This gives you the opportunity to discuss with Osprey beforehand the focus of your giving through this fund. Having a clear giving plan in place allows your estate the opportunity to realize the full potential tax savings of your gift.
How It Works
The charitable bequest in your will can provide a specific dollar amount, a percentage of your estate, or a gift of the residue, which consists of whatever remains in your estate after gifts to your loved ones and all expenses have been paid. We will invest your donation wisely, and grant the annual income disbursements to charities in accordance with your wishes.
The following sample will clauses provide a few options for charitable giving to Osprey Community Foundation through your estate. There are many ways that your legacy can be structured. We encourage you to talk to your lawyer and your family, and contact us to find out more.
Legal name: Osprey Community Foundation
Address: Suite B-8, 625 Front Street, Nelson, BC, V1L 6M2
1. Give where the need is greatest
At Osprey, we know that there is no crystal ball for the future. Our world is changing rapidly, and the issues of today may not be the pressing concerns of tomorrow. You can trust Osprey to identify emerging needs and make impactful granting decisions.
To pay [$____ / % / the residue] of my Estate to Osprey Community Foundation, charitable registration # 87492 5928 RR0001, to the Community Fund, the income of which shall be paid for general charitable purposes in conformity with the objectives of the Osprey Community Foundation.
To pay [$ / % / the residue] of my Estate to Osprey Community Foundation, charitable registration # 87492 5928 RR0001, to establish a fund known as the ___________, the income of which shall be paid for general charitable purposes in conformity with the objectives of the Osprey Community Foundation.
2. Give to the field of interest closest to your heart
You may want to focus your giving, but feel uncertain that the charities of today will be leading the way in the future. In that case, you may wish to choose a field of interest to dedicate your support. Osprey currently has the following Fields of Interest to choose from:
- Arts, Culture & Heritage
- Children, Youth and Families
- Community Food Security
- Health & Wellness
- Animal Welfare
To give to any one or more of these Fields of Interest, or to another that you first discuss with Osprey (to ensure that we will be able to carry out your wishes as you would wish us to do):
To pay [ $___ / ____% / the residue] of my Estate to Osprey Community Foundation, charitable registration # 87492 5928 RR0001, the income of which shall be paid to general charitable purposes, having regard to my interest in ____________________ [insert one or more of the above listed Field of Interest choices].
3. Give to an existing fund
Many of our donors establish a Fund during their lifetime in anticipation of a future bequest gift, as it provide peace of mind and flexibility for their Estate planning. In addition, Osprey also provides endowment fund services to many local charities such as the Capitol Theatre, the Nelson Library and Touchstones Nelson.
To make a gift to an existing fund, we recommend that you contact us in advance to confirm the proper fund name:
To give [ $___ / % / the residue] of my Estate to Osprey Community Foundation, charitable registration # 87492 5928 RR0001, to be endowed in the ___________ Fund [insert exact fund name.]
Osprey can help determine the type of Fund that’s right for you. There are several choices depending on how much direction you want to provide about the purpose of the Fund, and whether you want future family generations to be involved.
Your gift is invested professionally, and a portion of the total value of the Fund is available each year for distribution to any registered Canadian charity.
We take care of all of the administrative details for the Fund.
At the time a gift is contributed, it is eligible for a charitable tax credit for estate tax purposes.
Talk to us!
We encourage you to contact us to find out more about how Osprey Community Foundation can support your legacy vision. We can also access the services and advice of the Vancouver Foundation around planned giving options.