Donate Now, Disburse Later

Donate Now, Disburse Later

Are you facing additional or unusual taxable income? Consider a Generosity Plan™ to help you make a strategic donation now and support your favourite charities for years to come.

John* was nearing retirement when an economic downturn forced his company to make some tough decisions. The severance package he received provided more than he needed to live on. So John decided to give some of the excess cash to charity. He was excited at the prospect of making a real difference with his donation, but didn’t want to make a snap decision.

A Flexible Gifting Solution 

John was intrigued to discover that, in a year of additional or unusual taxable income (such as a retirement package or the sale of a business or farm), individuals and businesses can benefit from planning and managing their charitable giving inside a Generosity Plan™. This allows them to donate a larger amount right away but disburse the funds to charity over time. They receive a charitable receipt for the donation in the tax year it was given and can then recommend which charities they want to support, as well as when and how much to distribute to each charity. This is just one flexible gifting solution to gift planning, but John thought it was the best option to meet his needs.

After carefully considering his options, John contacted Abundance Canada and created a Generosity Plan™. He initiated a Gifting Fund™ with a large cash donation and received a donation receipt he could use as a tax credit, which aligned with the additional taxable income from his severance package.

An added benefit? This strategic generosity became more than just a one-time solution.  

A Generosity Plan™ can help you maximize the benefits of additional or unusual taxable income and your capacity to support charity. Click To Tweet

Strategic Generosity for Today and Tomorrow 

John continues to donate into his Gifting Fund™ while exploring opportunities to support his favourite charities. He has also invited his family to join him in contributing to the fund. Giving together, they hope that one day soon the fund’s annual returns will be sufficient to support regular donations to their favourite charities, while the balance sustains their family’s long-term philanthropy.

A Generosity Plan™ can help you maximize the benefits of additional or unusual taxable income and your capacity to support charity.

*Pseudonym 

David Barker, Gift Planning Consultant

Contributed by David Barker
Gift Planning Consultant

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