Bequests and Charitable Donations to CMOS
Did you know that CMOS is a registered charity and able to issue receipts for donations made to the Society? There are already several ways for CMOS Members to make charitable donations to CMOS and receive a consequent tax receipt.
Donations are the main source of revenue for the following named funds:
Roger Daley Postdoctoral Publication Award
[ see Roger Daley biography ]
Uri Schwarz Development Fund
[ see Uri Schwarz biography ]
Every year we issue a call for such donations to be made along with the renewal of membership, but in fact CMOS can accept donations to any of these funds at any time during the year. Click on the following link for a convenient fillable:
Your donations make it possible every year for CMOS to offer scholarship supplements to postgraduate students holding NSERC fellowships and scholarships to undergraduates. They also sustain the Tertia M C Hughes Graduate Student Award and the Roger Daley Postdoctoral Publication Award and they allow CMOS, through its Uri Schwarz Development Fund , to develop its influence and visibility through co-sponsorship of meetings organized by other groups, support to science fairs, and other development projects approved by Council.
One-time substantial Donations and Bequests
CMOS wishes to increase the scope and amount of gifts and bequests. There are several ways in which CMOS members might consider enhancing CMOS initiatives through more substantial charitable donations or bequests. Donations can be made by anyone at any time and by several methods. Just send us a note or an e-mail and we will contact you to make an arrangement that suits you.
If CMOS receives a large bequest or gift that is to be used to fund a project over a period of years, the donor needs to explicitly tell CMOS that this is their intention for these funds. This is particularly true when the donor wishes to give a substantial gift to endow a scholarship or prize in perpetuity.
Gifts of Cash
Make a difference today, either to existing CMOS programs noted above or through new dedicated initiatives determined by donors, and receive a tax receipt for your gift.
RRSPs and RRIFs
Secure two futures: yours and that of CMOS. Enjoy your savings in life, tax-protect your estate and create a legacy by designating CMOS as the beneficiary of some portion of your RRSP/RRIF portfolio. The gift will bypass the probate process, yielding a tax receipt for the full value of the investment.
Stocks and Securities
Be tax-smart. Donate publicly traded stocks and securities and receive a tax receipt for the full appreciated value. You will not be subject to capital gains tax on gifts made since May 2, 2006. The receipt value is based on the closing trading price on the day that CMOS receives the shares.
Modify an existing life insurance policy or take out a new one to support CMOS. Gifts of life insurance are made by transferring ownership and beneficiary status of an existing or new policy to CMOS. You will receive a tax receipt for the cash-surrender value of the policy at the time of the transfer and for all premiums paid after the date of transfer. You may also simply name CMOS as the beneficiary of your policy, and your estate will receive a tax receipt equal to the death benefit proceeds paid to CMOS.
Charitable Remainder Trusts and Gifts of Residual Interest
Arrange a trust gift today using cash, bonds, securities, real estate or another tangible asset, and continue to use the property or receive the interest income for the rest of your life. A receipt based on the net present value of the trust is available when the trust is established.
Bequests (Gifts via your will)
Feel good about your gift now, but give it later. When you make a bequest, your estate is eligible for a tax receipt of up to 100 per cent of your net income in the year of death and the preceding year.
Seek Financial Advice
The above guidance is general in nature and does not constitute legal nor financial advice. There is no substitute for professional advice based on the particular circumstances of individual CMOS members. When it comes to estate planning and/or financial advice CMOS strongly encourages that members seek professional advice before deciding on a course of action. Should you wish further information on possibilities with respect to making substantive contributions to CMOS, particularly with respect to initiating new programs, members are encouraged to contact the CMOS Executive Director at email@example.com to review options.
Recognition of DonorsEach year since 2004, CMOS has published in the Annual Review the names of its donors in four categories:
- Benefactors ($1000 or more)
- Patrons ($250 to $999)
- Sponsors ($100 to $249)
- Donors ($10 to $99)