Written on May 7, 2013 – 6:00 am | by Jasmine Sweatman
The spring 2013 issue of Your Guide to Charitable Giving & Estate Planning can be read at http://edition.pagesuite-professional.co.uk/launch.aspx?pbid=9b28931a-f773-4a6f-917a-9940abf1fc25&goback=%2Egde_108662_member_235958123
The issue has about 14 articles on such topics as the 2013 Federal Budget amendments to first gifts to charities, the new first in Canada Carleton University Graduate Degree in Philanthropy and Nonprofit Leadership and a how to guide on donating securities to charity.
Of particular note is the article “The top 7 mistakes Canadians make when donating to charity” (on page 9). The top mistake listed deals with RRSPs and RRIFs. The article quickly explains an easy way to donate a portion of your RRSP and/or RRIF to charity to defray or completely avoid paying tax on what is most likely your estate’s largest asset.
Another noteworthy article provides a simple 5 step test to see how transparent a charity is (on page 5). By some quick search online a person can find out the answer to these 5 important questions: (1) does the charity have a website and an annual report; (2) is financial information easily accessible; (3) is the mission and mandate clearly stated; (4) does the charity describe its governance structure; and (5) does the charity acknowledge its challenges as well as its achievements.
Lesson Learned: there are many resources out there to keep informed about charitable giving, read them and share them.
Until next time
Jasmine Sweatman/Jennifer Stebbing