Gifts-in-Kind

Donate personal, cultural or capital property

When considering giving to VON Canada, you might believe that your donation has to be made in cash. But gifts of property can allow you to make a bigger gift than you ever imagined possible.

A charitable tax receipt will be provided for the fair market value at the time of the transfer of property. VON Canada will sell the property and use the proceeds for crucial programs and services.

You can donate many types of property to help VON Canada give hope and care for people in need:

• Real estate: Such as a cottage, a piece of land, or a commercial building
• Personal property: Including jewelry or antiques
• Cultural property: Such as a painting or sculpture
• Capital property: Such as bonds, RRSPs, RRIFs or mutual funds

Tax implications

If you donate personal or cultural property, we will ask you to have your donation independently assessed, and then we will issue you a tax receipt based on that value. If you directly donate capital property, you will be exempt from paying any capital gains tax.

Make VON Canada a beneficiary of a life insurance policy

Depending on how you structure your gift, you can realize significant tax advantages during your life or benefit your estate. Remember, your life insurance needs can shift over time.  As your life changes, your life insurance coverage may no longer be needed for the purpose it was originally purchased.  Using it for charitable purposes might make good sense for your community and for your tax situation.   

There are different ways to support VON through gifts of life insurance:

Change an existing life insurance policy

If you no longer need to provide financial security for your heirs, you can change the name of the beneficiary to The Victorian Order of Nurses for Canada. 

After your death, your estate will get a charitable donation receipt for the proceeds of the policy. This can offset income taxes payable on your estate’s final tax return.

Transfer the ownership of an existing policy

If you’d like to receive immediate tax savings on the donation of an existing policy, you can transfer ownership to The Victorian Order of Nurses for Canada  and make VON Canada the policy’s beneficiary. A portion of your policy’s value will be taxable as income, but you will receive a tax receipt to help offset taxes payable.

Purchase a new life insurance policy

Depending on how you structure a new policy to benefit VON Canada, you or your estate could receive tax receipts.

Donate the remaining funds in your RRSP or RRIF

Many of us can look forward to retirement knowing that funds have been safely tucked away to cover our needs. Unfortunately, our vulnerable neighbours do not have this peace of mind.

You can provide a true gift of comfort by donating the remaining funds in your Registered Retirement Saving Plan (RRSP) or Registered Retirement Income Fund (RRIF) to The Victorian Order of Nurses for Canada. Of course, you’ll want to ensure that your future needs and those of your loved ones are met first.

There are two ways you can make a gift of an RRSP or RRIF:

• Name The Victorian Order of Nurses for Canada as the designated beneficiary. You do so by registering this change with the trustee of your plan.
• Leave the proceeds of your RRSP or RRIF to Victorian Order of Nurses for Canada in your will.

Tax implications

In both cases, VON Canada will issue a charitable receipt to your estate. By naming VON Canada as a beneficiary, you’ll also avoid probate tax and ensure funds go to much-needed services as quickly as possible.

If you choose to withdraw money from your retirement fund during your lifetime to make a donation to VON, we recommend that you carefully review the tax implications with your financial advisor.