Establish a Named Fund Today or Plan for a Legacy in Your Will
Making a legacy gift toward the endowed funds of the NBS Foundation ensures that your support of the School and a bright future for ballet will last for generations. Many dear friends of NBS have made legacy gifts in their lifetimes through the establishment of named funds to support NBS programs. Many more have planned a meaningful legacy through a bequest in their Will. Planning a Legacy Gift offers peace of mind – you will know that your philanthropic support will live on in your name. It is also convenient; gifts can be arranged for any amount and you will be able to discuss the designation of the funding with NBS to ensure that your legacy is a reflection of what you care most about.
Donors who make their bequest intentions known to the School are welcomed into the Future Steps program, a special circle of dear friends who have pledged to create a legacy for NBS through a deferred gift.
Deferred gifts, arranged today and used sometime in the future, take several forms, each offering particular tax benefits and all of them making a tangible impact. A short summary below outlines the most common types of planned legacy gifts:
A bequest is a gift made through your Will. By remembering Canada’s National Ballet School in your estate plans, you can make a lasting contribution and nurture successive generations of great dance talents. A bequest can be stated as a specific amount or as a percentage of your estate. Your estate will receive a full tax-receipt for the amount of the bequest, which may help to reduce the taxes payable on your final return.
The donation of a life insurance policy offers an opportunity to leave a significant legacy gift for a relatively small annual payment.
You can transfer ownership of a new or existing policy to NBS and receive a full tax receipt for the accumulated cash value. You may also directly designate the School as the beneficiary of the insurance proceeds (or an RRSP or RRIF), while you retain ownership of the policy. In this instance, your estate will realize the tax benefits.
Charitable Gift Annuities
Depending on your age, you can use a charitable gift annuity to your benefit by receiving tax-free payouts for life. NBS will use a portion of your contribution to purchase the annuity and retain the balance for immediate use towards supporting our students, programs and activities.
Charitable Remainder Trusts
You can create a trust to support Canada’s National Ballet School and receive interest for life, or a set term of years. You are entitled to a donation receipt at the time that the trust is established, while NBS will receive the remainder interest upon passing. A trust can be funded with cash, securities or other investments and will provide tax relief today and create a legacy for tomorrow.