Friday, November 20, 2009 - North Shore News - A29
charitable giving & estate planning
Hockey association helps out . . . . . . . . . . 30 North Van High lives on . . . . . . . 31 Leaving a legacy . . . . .
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Charity hurts in recession People are still giving but a struggling economy means a slowdown in donations Joanna Habdank jhabdank@nsnews.com
WHEN it comes to estate planning and charitable giving, it seems people are still generous during tough times, but organizations have been struggling. Peter Bonny, a lawyer with North Vancouver-based Ratcliff & Company specializing in wills, trusts and estates, says that over the past year he hasn’t noticed a dip in the amount people leave to charities in their wills. “I haven’t particularly noticed a change in habits of people,” he says. “I’m still getting a lot of charitable gifts in estate plans,” says Bonny. He explains that while its difficult for him to gauge whether the gifts are smaller than they otherwise would have been he hasn’t had anyone come back and say that they would like to change
their portfolio because their finances have been hit. What has changed is that many people’s investments have taken a tumble. “In regards to people’s portfolio’s a
“It certainly has been very challenging over the past year.”
lot of people have suffered,” says Bonny. Which in turn means that the amount of money charitable organizations receive has also been impacted. “I know a lot of charities have been really hurting when it comes to their day to day, I know that they are finding it hard to get their money in,” says Bonny, who also specializes in charity law. That’s true for at least one organization
on the North Shore. “It certainly has been very challenging over the past year,” says West Vancouver Community Foundation’s executive director Delaina Bell. She says that the fall of 2008 was the first time in its 30-year history that the foundation wasn’t able to give grants. In part it was because the return on investments was too low. The other factor was a decrease in donations. In fact, according to figures released by Statistics Canada on Nov. 16, Canadians donated $8.19 billion to charities in 2008 — a 5.3-per-cent drop from the previous year. The good news is that the number of people donating increased to 1.4 per cent to 5.8 million. Among census metropolitan areas, donors in Abbotsford had by far the highest median donation at $620. Toronto donors were next with a median of $360, slightly ahead of Vancouver with $340. It was the fourth year in a row that Abbotsford and Toronto reported the highest median donations. See Charities page 32
Leaving a little can create lasting change MANY people give their time and money to charities on a daily basis but when it comes to estate planning, those same organizations are sometimes overlooked. Here are a few reasons why they shouldn’t be, and the difference that donations can make. ■ Enrich people’s lives Every day, people are helped and lives are enriched by the work of registered charities and foundations, and other not-for-profit organizations in our communities. Meals for isolated seniors, summer jobs for disadvantaged high school students, funding for mental health or cancer research or a live performance by a local arts organization are just some of the ways not-for-profit organizations improve our lives. ■ Provide support Financial assistance is essential to support and sustain charitable work. It would be great if more funding were available for medical research, for domestic abuse shelters, or a treasured arts or music program. Charitable organizations need financial assistance from people like you to continue their work. By making bequests and other “planned gifts,” you can continue to help organizations that are making an important difference in your community. See Gifts page 31
A30 - North Shore News - Friday, November 20, 2009
charitable giving & estate planning
Capilano University Foundation For four decades we have been privileged to work with the North Shore community to provide financial assistance for students. Awards and bursaries ensure education is accessible and provide powerful recognition that a student’s goals are supported by their community. For information on how to give, please contact Capilano University Foundation at 604.984.4983 or fdn@capilanou.ca
Thank you — your donation will directly help a student who is brimming with potential but lacking in financial means. www.capilanou.ca/about/alumni-giving
2055 Purcell Way, North Vancouver, BC, V7J 3H5
Foundation’s fund helps with tuition Hockey training pays off Sue Ridout Contributing Writer
THE North Vancouver Minor Hockey Association believes it has scored a first for Canadian hockey. Fourteen years ago, they wanted to start a scholarship fund for their minor hockey players, and when they researched what other associations were doing, there was no model to follow. So when they heard about setting up a trust fund managed by the North Shore Community Foundation, it seemed the perfect solution. Since then, the NVMHA has given away over $25,000 in scholarships, and the trust fund’s still growing. “The simplicity of it was very attractive,” says Dan Morrison, co-chair of the association’s scholarship committee. “Someone else worries about all the financial issues of managing the money, and it’s segregated from the rest of our business affairs.” The North Shore Community Foundation is responsible for investing the NVMHA scholarship fund money, and the fund’s
investment income pays for the scholarships. The awards are given to minor hockey players who have shown excellence in citizenship and sportsmanship, to help fund their postsecondary education. The money is paid directly to their school by the North Shore Community Foundation on behalf of the NVMHA. The NVMHA Scholarship Fund has grown to two-thirds of its $100,000 target by accepting even the smallest of donations from its minor hockey teams. The 50/50 draw at the annual banquet, donations in memory of a favourite coach, even the $20 left in a team’s bank account at the end of the season — they all make a difference in building the fund. “It’s something that is going to survive all of us and be a legacy,” says Morrison. You don’t have to be a great hockey player to win a scholarship from the North Vancouver Minor Hockey Association, but you do have to give back to the community through activities like refereeing or helping younger children play hockey. So it’s appropriate that the fund will echo that spirit by giving back to the community for many, many years to come. Sue Ridout is the director of the North Shore Community Foundation.
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Friday, November 20, 2009 - North Shore News - A31
charitable giving
Wills & Estates
& estate planning
North Van High lives on Deana Lancaster dlancaster@nsnews.com
FOR years, North Vancouver High School was the only high school on the North Shore. Opened in 1910, thousands of students passed through its doors before the school eventually closed down. But even as the 100th anniversary of the school’s inception approaches, it continues to have an impact here on the North Shore. “We wanted to continue its legacy by offering bursaries,” explained Cathy
McNaughton, a former student of the school and now the president of the North Vancouver High School Education Foundation Awards. The foundation gives a number of scholarships and bursaries for academic and non-academic studies to students graduating from present-day North Vancouver secondary schools; awards range from $700 to $2,800. Members of the foundation’s board are primarily graduates of North Vancouver High and all of them volunteer their time. “One hundred per cent of donations goes to the students,” said McNaughton.
None of the money raised is used to administer the foundation. The scholarships are named for North Vancouver High School administrators and teachers, and are awarded at local graduation ceremonies. Sometimes the families of those who the awards are named after will attend the ceremonies. “Families who sponsor an award get a history of the student who wins it,” said McNaughton Many of the recipients have gone on to do great things. “If you look back at the list of winners of our bursaries, it reads like a who’s who of North Vancouver.”
Making a will helps ensure the people you care about are left in the best possible position. We provide estate-planning advice tailored to your specific circumstances. If a loved one has died, we assist executors and administrators in fulfilling their responsibilities. In the case of estate disputes, our team of expert litigators can help settle matters quickly and cost-effectively.
Gifts build a stronger future for agencies From page 29 ■ Leave a memory Choosing to leave a gift from the heart brings meaning, dignity and purpose to a life well lived. Your gift is your opportunity to participate in the charitable and community work most meaningful to you, in a way that allows these important causes to be well
supported now and long after you have gone. Personal Philanthropy through a will can be an additional way to ensure that your memory lives on. ■ Tax savings Surprisingly, a gift can also be a very practical addition to a financial or estate plan when tax issues are taken into consideration — even for those who think they may not have
tax issues. In most cases, the tax burden left to relatives is lifted significantly. A professional advisor can teach how giving may actually benefit your family after you’re gone. You can impact the causes you care about by including them in your will or estate plan. ■ A contribution for the future It is during life’s many en-
deavours that we are often reminded that more could be done to continue personal philanthropy which supports humane acts of kindness. By leaving a gift in your memory you are making a significant contribution to the future sustainability of those charitable and not-for-profit organizations that you value most.
Peter Bonny Lawyer
604-988-5201 www.ratcliff.com Suite 500 - 221 West Esplanade, North Vancouver, BC
we are interested in hearing stories from all seniors call 604 985 2131 or e-mail editor@nsnews.com
Source: www.leavealegacy.ca
Leave a Legacy for Meaningful Lives Most great independent schools have in place a well funded foundation to assist the school to grow and prosper for future generations, and to provide financial assistance to worthy students who would benefit from a Collingwood education but who could not afford the fees required. It was, in fact, a wish of the original founders that we provide a number of scholarships to deserving students to better serve the community we live in.
One of the ways we can grow the Foundation is through planned giving, where those who have participated in the School directly or through their children can continue to help in its growth and success after they have gone. With endowed funds, the capital remains intact and the income generated from it is used to fund the aims of the Foundation. My wife Penny and I have provided for a bequest of $250,000. I ask that when you are considering your estate planning you give a thought to The Collingwood Foundation. If you need help or assistance in thinking about the options available please call Susan Hazell, Executive Director of Advancement, at 604.925.3331 and she will be pleased to meet with you and your family. Nick Geer
Chair, Collingwood School Foundation
Collingwood School is accredited by The Canadian Educational Standards Institute (CESI) and is a proud member of the Round Square Association of Schools
A32 - North Shore News - Friday, November 20, 2009
charitable giving & estate planning
Charities make it easy to donate From page 29
Please remember the BC Cancer Foundation in your will.
Charities have also become a lot more savvy about making the donation process as easy as possible for the public, says Bonny. “I think charities and gifting are more professional and how they approach gift planning and they have departments for that and have more information for people.” He finds that most people give because they wish to do good rather than for any other benefit, but he adds that there’s also a tax credit for donors, “which is attractive in reducing taxes payable, wether it’s an immediate gift or in their will,” says Bonny.
Funds support research and enhancements to cancer care at the BC Cancer Agency, throughout British Columbia. Legal name: BC Cancer Foundation 604.877.6040 www.bccancerfoundation.com
Leave a legacy behind
NORTH VANCOUVER HIGH SCHOOL EDUCATION FOUNDATION
NEED help planning for the future of your assets?
30 YEARS OF PROVIDING SCHOLARSHIPS & BURSARIES TO HIGH SCHOOL GRADUATES IN NORTH VANCOUVER With your donation, setting up a named award or charitable estate, you could be leaving a legacy as part of the North Shore’s rich history. Find out how by contacting
North Vancouver High School Education Foundation #101-1485 Duchess Avenue West Vancouver, BC V7N 3G3
George Saunders at 604 985 5793 or Cathy Bullock McNaughton at jmcn@shaw.ca
NEWS photo Mike Wakefield
WEST Vancouver Community Foundation’s executive director Delaina Bell says the past year has been a difficult one for charitable organizations.
Preserve Your Wealth.
Leave a Legacy is a national public awareness program designed to encourage people to leave a gift through their will to a charity or non-profit organization of their choice. According to Leave a Legacy’s website, in the next two decades 3.5 million Canadians are expected to die, leaving an estimated $1.5 trillion to their families and community. Only 30 per cent of Canadians currently have an up-to-date legal will. If this trend continues, about two million Canadians will end life without a will to protect their assets, in the next two decades. Without a will, people lose the
ability to control distribution of their estate to their chosen beneficiaries. The message of Leave a Legacy benefits all. Donors gain a sense of fulfillment knowing they are supporting organizations that make a difference within their communities. They may also receive significant tax benefits. Charities obtain more support and as a result may sustain and improve their efforts. Finally, future generations of Canadians, including grandchildren and other family members can share in a legacy of charitable work that continue to enhance the quality of life for citizens today and in the future. Find out more at www. leavealegacy.ca.
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