Giving to SMU
Contribute to Our Students’ Success
Your planned gift will create a legacy of support for generations of students to come, while at the same time provide positive tax benefits. Deciding what type of gift works best for you is as important as making the gift itself. There are many giving options available – from naming Saint Mary’s as a beneficiary in your will to more complex trust arrangements. The best gift plan allows you accomplish what you wish for yourself and your family, and serves your charitable interests.
A bequest allows you to make a significant contribution while maintaining future financial security. Your estate will receive a donation receipt and the resulting tax savings will increase the amount available for other beneficiaries. Find out more about bequests [PDF].
Donors may choose to name Saint Mary’s directly as beneficiary of a portion of an RRSP or RRIF. It could be 10%, 25%, 50%, or even the entire amount if there are no heirs. Funds given to Saint Mary’s in the year of the donor’s death are creditable, with credit offsetting the tax on the distribution. Find out more about giving remaining RRSP or RRIF funds [PDF].
A reinsured charitable annuity (Gift Plus Annuity) is an agreement in which you make an irrevocable gift to Saint Mary’s authorizing the University to purchase a commercial prescribed annuity with you or your spouse as the beneficiary of the annuity. You will receive a donation receipt for the difference between the amount contributed and the cost of annuity plus a regular fixed income for your lifetime or the lifetime of your spouse.
This plan allows you to give a significant gift without losing the benefit of revenue your capital earns. In fact, when the tax advantages are considered, many donors find their net return is higher through a gift annuity. Find out more about Charitable Gift Plus Annuity.
A gift of life insurance enables you to plan for a future significant donation to the University.
Both existing and new life insurance policies can be donated to Saint Mary’s. By making Saint Mary’s the owner and sole beneficiary of an existing insurance policy, you will receive a tax receipt equal to the cash surrender value of the gifted policy and, where applicable, tax receipts for subsequent premium payments. You may decide to purchase a new life insurance policy and designate Saint Mary’s as the owner and beneficiary. You will receive a tax receipt each year equal to the premium paid to the insurance company.
You may choose to name Saint Mary’s as beneficiary of an existing or new life insurance policy while retaining ownership of the policy. Your estate will receive a donation receipt for the proceeds of the policy.
Life insurance is a versatile gift planning method. Our gift planning staff is happy to assist you in planning your gift through life insurance and can discuss with you the many available options. Find out more about Life Insurance.