CHAA’s Planned Giving Program

CHAA’s Planned Giving Committee has developed a program, which provides a variety of opportunities for interested members to contribute in new ways to ensure the long-term success of CHAA, and continues to uphold our mandate for future generations.

Complete info is as follows:

 

CHAA’S PLANNED GIVING PROGRAM

leave a legacy & preserve history

for future generations

Planned Giving

 

We all strive to make a difference — to leave the world a better place for future generations. One way to do this is through Planned Giving.

What is Planned Giving?

Working with your financial advisor, you plan a gift to remember the Canadian Harvard Aircraft Association (CHAA) in your estate plan or will. Any type of gift can be given directly to CHAA through one of two CHAA Trusts or designated to be placed in CHAA’s Endowment Fund with Oxford Community Foundation where it remains a perpetual living legacy.

 

Who Benefits by Planned Giving?

By organizing your Planned Giving with your financial advisor, it provides the opportunity for you to look after your family’s current financial needs, realize immediate and/or future tax benefits for yourself or your estate and provide support for the Canadian Harvard Aircraft Association.

 

By working through the Canadian Harvard Aircraft Association’s (CHAA’s) Planned Giving Program, a living legacy is left which will preserve our proud Canadian history for future generations. CHAA’s Planned Giving Program has been designed around supporting all key aspects of the CHAA Mandate, for now and well into the future.

The Mandate of CHAA: to acquire, preserve, restore, maintain, display and demonstrate the Harvard Aircraft and other aircraft associated with the British Commonwealth Air Training Plan and other aircraft of the RCAF.

 

Three legacy OPTIONS are being offered; each with a designated purpose within CHAA and all structured to directly support our Mandate. Planned Giving Donors have the option of allocating their gift to one or any combination of these legacy options according to their personal preferences.

 

1. Canadian Harvard Aircraft Association Endowment Fund: For those who prefer a perpetual living legacy, your gifts are placed into this Endowment Fund within the Oxford Community Foundation. The Foundation invests the funds, the principal is protected and remains untouched in perpetuity and CHAA receives annual distributions of the investment income earned by the gift to use as determined by the Board of Directors.

 

2. Canadian Harvard Aircraft Association Capital Trust: To support the “acquire, preserve, restore” aspect of our Mandate, a Trust has been established where your gifts, and the investment income they earn, are used by the Board for the acquisition, preservation and restoration of aircraft and properties.

 

3. Canadian Harvard Aircraft Association Operating Trust: This Trust has been created to support the more visible aspect of our Mandate “to maintain, display and demonstrate” our Harvard Aircraft. This includes the cost of fuel, aircraft maintenance and the various annual operating costs to keep the Harvards and all our other aircraft operating safely.

Note: Both Canadian Harvard Aircraft Association Trusts are governed by Trust Articles designed to guide CHAA in the management and control of the total value of the Trusts and how succeeding Boards use the funds through the years. These Articles will ensure the Trusts continue to support CHAA as long-term, living legacies and provide a reliable funding source to maintain our Mandate.

 

Examples of Gift Options …to discuss with your financial advisor:

 

 

Gifts of Cash:

 

These are the simplest and most common Gifts. They can be given in a lump sum or spread over a period of time. Tax receipts are issued.

 

Gifts of securities:

 

These include an “in-kind” transfer of such Gifts as stocks, trusts, mutual funds and bonds. Reminder: capital gains on such transfers to public charities were eliminated in the May 2006 federal budget. Note: need to be transfers to eliminate the capital gains

 

Gifts of property:

 

These include Gifts of personal property (books), capital property (stock, bonds), real property (house, cottage, land) and cultural property (art, paintings). These are accepted at the discretion of CHAA based on its suitability, and a tax receipt is issued based on the value of the Gift.

 

Gifts from Wills & Bequests:

 

These can include Gifts of cash, RRSPs, RIFs, what remains after other bequests have been made, a portion of your estate or a personal asset. Your estate receives a tax receipt for the value of the Gift left to CHAA, which provides a tax credit to reduce taxes payable on your final tax return.

 

Gifts of Life Insurance:

 

This option allows you to make significant Gifts at a modest cost. Many options are possible, such as: purchase a new policy making the Canadian Harvard Aircraft Association the owner and beneficiary. You pay the premiums and are issued a full tax receipt for premiums paid, or transfer an existing policy (no longer needed to meet your family’s needs) to the Canadian Harvard Aircraft Association; tax receipts are issued for the cash surrender value and payment of subsequent premiums.

 

Charitable Gift Annuities:

 

This option is especially appealing to folks seventy years of age and older who are more concerned with financial security than income growth. See your financial advisor for full details.

 

CHAA’s Privacy Policy:

 

Any information given to the Canadian Harvard Aircraft Association will be held in strict confidence. A privacy policy has been created to maintain confidentiality in this Planned Giving process, and a copy is available on request.

 

Contact Planned Giving to learn more about how YOU can leave a legacy, which will support CHAA in its endeavour to preserve history for future generations.