The Jesuit Seminary Association holds charitable status under the umbrella and direction of The Jesuit Office of Advancement.
By making provisions to remember the Jesuits in Canada, you will be returning a portion of the gifts God has bestowed upon you during your lifetime.
There are many ways in which you can make a gift and the following general information includes a few ideas to help you ensure that your wishes for your estate are clear.
Stocks and securities
Gifts of publicly traded stocks or securities are another way that you can make a charitable gift to the Jesuits of Canada. For publicly traded stocks, you will not be required to report any capital gain and you will receive a tax receipt for the full market value of the stocks that you donate on the date they are received in the Jesuits of Canada account. This is the case if you transfer stocks during your lifetime and also if you include a donation of stocks in your will.
“To donate stocks or other securities, please contact Colleen Franks at 416-481-9154 or go directly to CanadaHelps at this link.”
A will is a clear and legally binding statement of your wishes; however, you can make changes to your will if you desire. In a will, you will make a bequest to an individual or charitable organization such as The Jesuit Seminary Association.
Making a bequest offers you a great deal of flexibility. It ensures that your wishes are explained, documented and clear. You may choose to leave a specific dollar amount, a fixed percentage of your estate, or you can designate that the balance (residue) of the estate is left to a charitable organization such as The Jesuit Seminary Association after you have provided for selected individuals. You may also specify that your Canada Pension Plan Death Benefit be left to a charitable organization.
You could word your bequest as follows:
“I give, devise and bequeath to The Jesuit Seminary Association of Toronto, Ontario _________ % of my estate.”
“I give, devise and bequeath to The Jesuit Seminary Association of Toronto, Ontario $ _________ of my estate.”
“All the residue of my estate, including real and personal property, I give, devise and bequeath to The Jesuit Seminary Association of Toronto, Ontario.”
Other options include establishment of an endowment fund, gift annuities, and gifts of property or securities.
For more information, please contact Scott McMaster at the Office of Advancement.
Please note: This information has been prepared to assist friends of the Canadian Jesuits. It outlines methods and opportunities for providing support for senior Jesuits and Jesuit education through bequests and estate planning.The information is general in nature. It is subject to change by individual personal circumstances. The Jesuit Seminary cannot give and is not qualified to give legal or financial advice. We urge you to seek the advice of your own legal and financial counselors.
Your contribution to a life insurance policy can be made to The Jesuit Seminary Association. This is often an affordable gift since a modest premium contributes a substantial gift to the charity and will not diminish your estate after your death.
If you choose to name The Jesuit Seminary Association as the owner and beneficiary of a new or existing policy, the insurance premiums are tax deductible.
When remembering the Jesuits, there are many options for your gift.
Establishing a Scholarship Fund ($15,000) or a Founders Fund ($50,000) in your name, or in memory of a loved one, will help support young Jesuits in training (formation). Scholarship Funds are also established in memory of Jesuits who have passed on, so you may apply your gift to one of these outstanding scholarships. There is no better way to honour the life of a Jesuit or a loved one, than through your support of Jesuits during these formative years.
A contribution to the Jesuit Office of Advancement will help provide 24-hour care for senior Jesuits who can no longer live independently, assistance to senior Jesuits who continue to live in their local Jesuit communities, and increased support to Jesuit ministry in Canada and the wider world. Your assistance will ensure that the Jesuit tradition will continue.