Ways to Give

To donate by cheque, please print a copy of this gift form, fill in the details requested, and include it with your cheque, payable to the University of St Michael’s College.

Mailing address:

University of St Michael’s College
Office of Advancement
81 St. Mary Street
Toronto, ON  M5S 1J4
Canada

Donate online by credit card by using our secure online giving page here.

To make a donation by telephone, please call (416) 926-1300.

Monthly Giving is easy. Just tell us whether you would prefer to use your credit card or your chequing account, and we’ll take care of the rest.

Giving on a monthly basis is also:

• Flexible. You can increase, decrease, pause or stop your monthly support at any time.
• Convenient. You will receive a single, consolidated tax receipt for all of your donations from the previous year.
• Useful. Monthly giving provides a great way to manage your cash flow.

Best of all, by becoming a monthly donor, you will have the satisfaction of knowing that you are providing a steady stream of funding to USMC, allowing St. Mike’s to plan to plan ahead, seize unexpected opportunities, and maximize financial resources.

Monthly donors are recognized as part of the St. Michael’s Double Blue Society for their continuing commitment to the University.

To become a Monthly Giving donor, please go to the U of T donation page and select the option for monthly credit card or contact us by calling (416) 926-1300 or by email at smc.annualfund@utoronto.ca.

Every day, USMC faculty and staff give their time and energy to help our students reach their full potential. Every year, many faculty and staff go above and beyond by making a personal donation.

• You may make a one-time gift by cheque or credit card or an ongoing donation through convenient payroll deduction.
• You can direct your support to your own faculty, division or program—or to any area that is meaningful to you.

To set up your gift, make a gift online and select “Payroll Deduction,” or call 416-926-2331 or email smc.annualfund@utoronto.ca.

St. Mike’s alumni and their families (spouses, children, grandchildren, parents, and siblings) may donate directly to the University of St. Michael’s College and, under the Canada-United States Income Tax Convention, use the University of St. Michael’s College charitable receipt for their U.S. income tax returns.

American citizens (or residents) who are not alumni or related to alumni of the University of St. Michael’s College, as well as corporations, foundations, estates and trusts requiring a U.S. tax receipt can contribute to the University through The Associates of the University of Toronto Inc., a not-for-profit organization recognized under the U.S. Internal Revenue Code, Section 501(c)(3).

For more information on giving to St. Michael’s through the University of Toronto Associates, please call toll free 1-800-699-1736 or e-mail associates.ut@utoronto.ca.

A gift of life insurance is an affordable way to make a real difference. A   modest annual premium, paid over time, can result in a significant future legacy.

There are three ways to donate life insurance:

• Donate an existing policy: receive a charitable tax receipt for the net cash surrender value and any premiums paid after the donation date.
• Donate a new policy: receive a charitable tax receipt for any premiums paid after the donation date.
• Assign USMC as the beneficiary of your individual or workplace insurance policy: your estate receives a charitable tax receipt.

Benefits of a gift of life insurance include the following:

• Affordable annual premiums convert to a large gift to the University.
• You receive a charitable tax receipt based on the way the insurance was gifted.
• Gifts of life insurance are not included in probate.

For more information contact (416) 926-2331 or email smc.annualfund@utoronto.ca

A charitable remainder trust allows you to arrange your legacy gift now and receive an immediate charitable tax receipt, while enjoying the interest income for life.

You may designate the proceeds of the charitable remainder trust to USMC’s greatest needs, or to a University priority that meets your interests.

To establish a charitable remainder trust:

• You irrevocably transfer assets (a sum of money, securities, personal or real property) into a trust to be managed by a trustee, such as a financial institution, yourself, a lawyer or other individual.
• A trust document names you or others as the beneficiary of the interest income and names USMC as the remainder beneficiary.

Benefits of a charitable remainder trust include the following:

• You receive a charitable tax receipt for the net present value of the assets in the trust.
• You receive lifetime income from the donated asset.
• These gifts provide privacy as they are not part of your will and are not included in probate.
• If all or the majority of your estate is intended for charity, then a charitable remainder trust is a way to ensure you maximize the use of your charitable tax receipts.

For more information, please contact (416) 926-2331 or email smc.annualfund@utoronto.ca

Charitable gift annuities provide both immediate support to the University of St. Michael’s College and a secure income stream for your lifetime. Depending upon your age, this income may be 100 per cent tax-free.

A portion of the total contribution is used to purchase the annuity from a licensed insurance company, while the balance is retained by USMC as an immediate donation, for which you receive a charitable tax receipt.

The gift portion can support the University’s greatest needs, or you can designate it to a University priority that is in line with your interests.

Benefits of a charitable gift annuity include the following:

• You receive a guaranteed income for life. Annuity rates are typically much higher than the return on guaranteed income investments.
• Depending on your age, a substantial portion or all of the annuity payment is tax-free.
• You receive a charitable tax receipt for the gift portion.

Example — a charitable gift annuity for an 80-year-old:

A transfer of $75,000 creates annual payments of $3,951, guaranteed for life, while $25,000 becomes the gift portion to USMC and the amount of your charitable tax receipt.

For more information, please contact (416) 926-2331 or email smc.annualfund@utoronto.ca

The University of St. Michael’s College can be named as a direct beneficiary of Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs). RRSPs and RRIFS are a smart way to save for retirement and a tax-smart way to help ensure the best academic resources are available for students at USMC.

Benefits of planned gifts of RRSPs and RRIFs include the following:

• Remaining funds in most RRSPs/RRIFs become fully taxable as income in the year of death, usually at the highest tax rate. Naming the University as the direct beneficiary of such plans generates a charitable tax receipt which will offset this tax.
• These types of gifts provide privacy because they are not part of your will, and there is no cost in creating them.
• The balance of your retirement fund flows outside your estate, and therefore it is not included in probate.

Please note that RRSP and RRIF assets cannot be transferred directly to a registered charity during your lifetime and be eligible for a charitable tax receipt. However, if you find that you do not need the required annual withdrawal from your RRIF, consider donating this amount to USMC to offset your taxes.

For more information, please contact (416) 926-2331 or email smc.annualfund@utoronto.ca

With a gift of residual interest, you can donate your personal property to the University of St. Michael’s College now and continue to use it for the rest of your life. You also receive an immediate tax benefit. These donations can include assets such as real estate.

Benefits of a planned gift of residual interest include the following:

• You continue to use the property for life.
• You receive a charitable tax receipt for the net present value of the property when the gift is made.
• These gifts are not included in probate and provide privacy, as they are not part of your will.
• If all or the majority of your estate is intended for charity, then a gift of residual interest is a way to ensure you maximize the use of your charitable tax receipts.
• At the end of the term of the agreement, typically upon death, the University will either liquidate the property or add it to its assets, depending on your agreed-upon wishes.

For more information, please contact (416) 926-2331 or email smc.annualfund@utoronto.ca