The need for Reena has never been greater. The waitlist for supports in Ontario is growing. According to the Provincial Network on Developmental Services, nearly 12,000 people are waiting for residential care and another 6,000 are waiting for services that will provide community based programs, job training and help at home.
Reena is responding to this challenge by developing new supports in the areas of housing, employment and aging. But the need is still great and individuals with developmental disabilities continue to go without help. With your support we can do more.
We continuously and carefully manage our current needs and weigh them against the future needs of Reena. Many of our donors want to support the organization’s current priorities which is crucial to Reena’s continued viability. For others, the most significant way to support Reena is with a planned gift.
What is planned giving?
A planned gift is a very special, carefully planned donation. It is a commitment that is made to Reena now, but may not be realized until well into the future. The significant advantage of a planned or future gift is that it often gives the donor the opportunity to make a larger, more lasting gift than might otherwise be possible if the donation was being made out of current available cash. With a future gift, you give the gift now, but Reena Foundation doesn’t receive it until sometime in the future. For example, a pensioner may not be able to afford a large gift today, but may be able to make a substantial gift through his/her will.
A planned gift is a tax-effective donation that balances your financial needs, family commitments and charitable goals. From a personal perspective, a planned gift is a tangible expression of the values you have embraced throughout your life. A well-considered gift stands as a symbol of who you are and what you believe in.
Types of Planned Gifts
Reena Foundation offers a number of creative ways for our supporters to donate. The most common types of planned gifts are briefly described below to give you an idea of the various possibilities.
Legacies & Bequests
Legacies & Bequests are donations you make through your Will and that are distributed from your estate. They are the most common type of planned gift. A bequest may be a specific piece of property, a specific amount of money, or a percentage of your estate. The tax receipt for the donation can be used by your estate to affect taxes on up to 100% of income on your two final tax returns.
Let us know if you plan to leave a gift to Reena Foundation in your will. Bequests help us to plan our future, but we would like to reassure you that we can carry out your wishes and create a legacy for you. For example, you may want to create an endowment fund from the bequest. The endowment fund can be maintained by members of your family for generations to come as a lasting legacy of your feelings for Reena. Please let us know if you would like a sample will clause to give to your lawyer, or a more detailed brochure outlining the various options you might consider in leaving a gift to Reena.
Life Insurance and RRSPs/RRIFs
Life insurance policies let you donate a substantial amount in the future by making a series of modest payments now. If you have made Reena the owner of an insurance policy the premium payments that you make annually towards the policy are receiptable for tax purposes. You can also gift an existing, paid up insurance policy and receive a receipt for the amount of any cash value. Alternativly you can name the Reena Foundation the beneficiary of the policy while retaining ownership of it, and Reena Foundation will issue a receipt for the amount of the insurance proceeds. Similarly, you may name Reena Foundation as the beneficiary of your RRSP or RRIF.
Charitable Remainder Trusts
A charitable remainder trust is an alternative to a bequest. It allows you to receive an immediate tax receipt for a gift Reena Foundation will receive in the future and allows you to retain the income the gift earns. A trust can be funded with a variety of assets, including cash, stocks, bonds and other securities, such as mutual funds. Reena Foundation issues a tax receipt for the present value of the donation.
Gifts of Residual Interest
A gift of residual interest in property allows, you continue to use the property placed in trust. This means you can donate your cottage or condominium or home, receive a tax receipt for the present value, and continue to use it for the rest of your life. Upon death, the property is transferred to Reena Foundation.
The Alex Eisen Society
Please ask us about membership in the Alex Eisen Society. It is offered to donors who have committed a minimum of $1,000 to Reena Foundation for a minimum of 5 consecutive years. The names of Alex Eisen Sustaining Fund members are published in our Annual Report.
The Alex Eisen Sustaining Fund
Membership to the Alex Eisen Sustaining Fund is offered to donors who have included Reena Foundation in their estate planning. The names of Alex Eisen Sustaining Fund Members are published in our Annual Report and on this website.