Becoming a member of The Metchosin Foundation is easy and inexpensive, for only $10.00 you can participate in helping to preserve the wild, natural lands and animals of Metchosin.
To become a member and/or donate, please complete the membership form and mail or drop it off with your contribution to:
The Metchosin Foundation
c/o Metchosin Community House
4430 - Happy Valley Road
Victoria, BC CANADA V9C 3Z3
To donate please use the link on the right side of this page. We thank you for your generosity!
SUPPORTING THE METCHOSIN FOUNDATION and its VISION
By: Amita Vulimiri
The Metchosin Foundation strives to preserve the unique ecology of Metchosin for future generations, and to support and build connections within the Metchosin community. Projects that the Foundation has carried out include working with the Habitat Acquisition Trust to assist landowners with securing conservation covenants to protect their land, and organizing educational and research events. There are many ways in which residents may direct their energies and assets and we hope that you will think of The Metchosin Foundation when you contemplate what kind of legacy you will leave for future generations. The Foundation welcomes donations and bequests to support its work. Five ways to make a contribution are:
1. through a direct monetary contribution;
2. through an in-kind gift;
3. through a legacy and/or bequest;
4. by naming the Foundation as a beneficiary of an RRSP or a life insurance policy;
5. through a charitable trust.
As the Foundation is a registered charity with the Canada Revenue Agency, donations are tax deductible.
1. Direct Monetary Contributions:
Direct contributions of money can either be made as one-time gifts, or as automatic monthly or yearly payments. In addition, donors are welcome to specify projects or activities of the Foundation that they would like their donation to go towards. For example, donors can specify that they would like their donation to support the Foundation’s activities with seniors, or the Foundation’s efforts to protect land through conservation covenants.
Donations can be made either by using the Foundation’s Membership and Donation Form, or through Canada Helps, which provides a step-by-step donation process through a secure online site.
2. In-Kind Gifts:
The Foundation accepts gifts of property, including land or items that can be sold to raise money for the Foundation.
The Foundation welcomes gifts of land in Metchosin, including the opportunity to make arrangements with Metchosin residents with regards to the future care and preservation of the land. The Foundation has worked with residents in the past to implement conservation covenants on land in Metchosin, and is willing and able to secure such covenants on land donated to the Foundation. The Foundation is also willing to take into account the donor’s wishes in caring for the land - these wishes could include, for instance, constructing community buildings on portions of the land, or selling the land to appropriate purchasers to raise money for the Foundation.
The Foundation also accepts items of property which are suitable for sale to raise money for the Foundation.
Prior to making donations of land or other property, contact the Foundation directly in order to discuss arrangements for land or the suitability of items for donation. I will provide contact information for the Foundation at the end of this article.
3. Legacies and Bequests
Donations of money or property can also be made through a donor’s estate using a legacy or bequest. Donors can leave a legacy or bequest by naming the Foundation as a beneficiary of their estates within their wills. A legacy is a donation of money to a charity through a will, while a bequest is a donation of property.
It is important for a donor to consult a lawyer prior to naming the Foundation in his or her will to ensure that the donor has met all of his or her estate obligations and to ensure that the bequest or legacy is correctly drafted.
The following are possible ways to make gifts by Will, and sample phrases for consideration by donors and their lawyers:
a. A general bequest for a specific sum of money. “I give to The Metchosin Foundation the sum of ($00,000).”
b. A specific gift of tangible assets such as stock, proceeds of an insurance policy, a RRIF or RRSP, property or possessions. “I give to The Metchosin Foundation (500 shares of ABC stock).”
c. A 'residual' bequest, designating all or a specific portion of what remains after all debts, taxes, expenses and other bequests have been paid. “I give (50%) of the residue of my estate to The Metchosin Foundation”
d. A contingent bequest. “In the event that my wife does not survive me, I give to The Metchosin Foundation the following (amount of cash, property or percentage of residual estate.”
e. A 'failed' bequest. “In case any bequest made by this Will shall fail, the property so bequeathed is to go to The Metchosin Foundation.”
f. A bequest to take effect after a lifetime beneficiary has passed away. “Upon the death of (my wife, brother, etc.) the remainder of my estate shall be paid to The Metchosin Foundation.”
g. A beneficiary of the last resort. “In the event that there is no beneficiary alive at the time they are entitled to receive a share of my estate, then the shares of the estate that they would have been entitled to receive shall go to The Metchosin Foundation.”
A charitable donation made at death is subject to a 100% of income limit, which can be carried back to the year prior to death.
In addition, when naming the Foundation as a beneficiary in a will, it is important for the will to state the full legal name and charitable registration number of the Foundation, which are as follows:
Legal Name: The Metchosin Foundation
Charitable Registration Number: 81576 1556 RR0001
4. Beneficiary to Life Insurance or RRSP
It is also possible for donors to leave the Foundation as a designated beneficiary to their life insurance policies, RRSPs or RRIFs.
In the case of life insurance, the donor still maintains control of the policy through his or her lifetime, but the Foundation collects proceeds from the policy upon the donor’s death.
Similarly, donors may use and manage their RRSPs and RRIFs in any way they wish while they are alive. The Foundation only collects any proceeds from the donor’s RRSP or RRIF upon the donor’s death.
An advantage of giving to the Foundation in this manner rather than through a legacy or bequest is that the donor may be able to avoid paying on the donation. .
5. Charitable Remainder Trust
Donors can also donate to the Foundation using a charitable remainder trust (or CRT). A CRT is a trust into which the donor can transfer property, while naming the Foundation as the trust’s beneficiary.
The donor then retains the beneficial title to the income interest in the property, and thus receives all of the income generated by the property during his or her lifetime, while the Foundation holds the beneficial title to the capital interest in the property. The CRT will hold the legal title to the property.
After the donor’s death, the donor’s income interest in the property will terminate, and the Foundation will continue to hold the capital interest.
As in other types of donations, the donor receives a tax credit for the value of the property upon placing the property in the CRT. This allows the donor to continue to receive income from property during his or her lifetime while also receiving an immediate tax credit for the donation of this property to charity.
A disadvantage to the CRT is the costs involved in creating and managing the trust. A CRT is more appropriate for property donations of substantial value in order to justify these costs. It is very important to consult with a lawyer in order to discuss the implications of placing property in such a trust.
For further questions and inquiries, please contact the Metchosin Foundation at: 250-478-3817 (Chris Pratt, President)Charitable BN/Registration # 81576 1556 RR0001