Protecting and enhancing the natural values of Salt Spring Island and its surrounding waters


Legacy Gifts

>>Legacy Gifts
Legacy Gifts2017-07-26T16:11:00+00:00
“After my husband’s death, I decided to name the Salt Spring Conservancy as a beneficiary of my retirement savings. It’s very easy. You just need to check with your lawyer about the best approach. I’m happy to remember my husband this way, as well as thank an old friend who works tirelessly for the Conservancy. Charles and I have always treasured wetlands; we’ve worked for conservation all our adult lives, and we’ve been impressed with the Conservancy’s achievements. I hope you’ll join me in supporting their important, effective work!”
Kathy van Hook

Legacy gift planning is a way to thoughtfully bequeath a charity a portion of your estate. By deciding now, you can significantly alter the future of a charity like the Salt Spring Island Conservancy.

There are over 20 different ways to do this. Here are our top 5:

Bequests: Any gift can be left in a will, including money, securities, real estate or personal property. You can specify a dollar amount or proportion of an estate, or of the residue (the assets left after your heirs have been provided for and expenses paid) to be left to the Salt Spring Island Conservancy. Donation receipts are issued to the estate for the value of the gift. This type of donation can substantially reduce taxes paid by your estate.

Gifts of Land: A transfer of title to the Salt Spring Island Conservancy gives immediate tax relief at the appraised value of the land. The donor receives a tax receipt for the fair market value of the donated real estate, as determined by a qualified appraiser.  50% of any capital gain on the property is taxable, but the tax credit arising from the gift will exceed the tax on the capital gain, resulting in tax savings for you.  This can be done during life or as part of your estate planning.

If you want to know whether the Conservancy will be able to retain and protect your land as a nature reserve, rather than sell it and utilized the income to support its work, it is important to discuss your potential bequest with us before your death. We cannot always accept every parcel of land, and only on rare occasions would we retain a gift of land that includes ongoing responsibility for buildings or other infrastructure.

Gifts of Life Insurance (the Salt Spring Island Conservancy named as registered beneficiary): Naming the Conservancy as a beneficiary of an existing policy is an excellent way to donate.  Upon death, the insurance company will pay the death proceeds directly to the charity. The Conservancy will issue a tax receipt to the donor’s estate for the policy proceeds.

Gifts of Publicly Traded (Listed) Securities (including Mutual Funds):  By donating stocks or mutual funds, either during or after your lifetime, you can easily contribute to the Conservancy. You receive a tax receipt for full fair market value of the donated securities and are taxed on none of the capital gain.

Gifts of RRSPs or RRIF’s: You can name the SSI Conservancy as the beneficiary of your RRSP or RRIF. Since RRSP’s are one of the most heavily taxed estate assets, this can substantially reduce your estate’s taxes and help protect nature. This type of designation cannot be contested by the estate. The donor’s estate will receive a tax receipt to be applied against tax on the distribution of retirement funds.

We encourage you to consult with your legal and financial advisors to discuss what is best for you. We cannot act as your advisor or offer professional advice but we would be pleased to work with your independent advisors to help you in making your decision.

If you have chosen to include the Salt Spring Island Conservancy in your will, please let us know. We wish to honour your donation with a thank-you, and keep you informed of the work that we are doing.

Please consult the Green Legacies Guide for more information about Canadian donations.

Please contact us if you have other suggestions or ideas about a donation.

What you need to know:

  • Legal Name: Salt Spring Island Conservancy
    Registered Charity #: 89006-3977-RR0001
    BC Society #: S-32945
  • Our Address is: 265 Blackburn Road, Salt Spring Island, BC V8K 2B8
  • Our suggested wording for a gift of land: “To give the Salt Spring Island Conservancy my property at (insert specific street address), legally described as (insert legal description of the property)”
  • Our suggested wording for a specific gift: “To pay Salt Spring Island Conservancy the sum of $___ for such use and purpose as the Board of Directors may determine in their absolute discretion.”
  • Our suggested wording for a residual gift: “To pay the Salt Spring Island Conservancy the residue (or share of the residue) of my estate for such use and purpose as the Board of Directors may determine in their absolute discretion.”

Christine Torgrimson,
Executive Director