Q: Why does GAiN has a Planned & Legacy Giving Program?
A: To better serve the needs of our partners, we have partnered with Link Charity Canada in order to provide a wider variety of gifting options, and to provide for future funding to continue our mission.
Q: Who is Link Charity?
A: Link Charity is a Charitable Giving Organization which provides the expertise, effective and efficient processes to help partners and charities in a formulating and executing Planned Giving Initiatives.
Q: Does Link Charity take a portion of each investment or initiative?
A: Yes, there are areas where Link Charity charges a management fee. Giving avenues such as Charitable Annuities, Donor Advised Funds, Gifts of Securities. This is how Link Charity sustains it’s purpose and mission.
Q: Who do I speak with if I have questions?
A: You can contact Barbara Burns at the GAiN office or complete the contact form found here.
Q: Does GAiN receive any monetary renumeration for clients sent to Link Charity?
A: No. Link Charity funding is generated directly through the various giving vehicles.
Q: Who issues the tax receipts for giving to GAiN through Link Charity?
A: All tax receipts, when using Link Charity, are issued by Link Charity.
Q: If our partner uses another Charitable Organization, like Canada Gives, do they need to switch to Link Charity?
A: No. The choice of which organization to use is at our partners discretion.
Q: Who supplies the forms for opening an account or giving vehicle (i.e. Charitable Annuities)?
A: Forms are available by contacting Barbara Burns or completing the online forms found here
Q: Do I need a lawyer to prepare a Letter of Direction?
A: No. The experts at Link Charity can help you prepare a Letter of Direction.
Q: Can I have multiple Letters of Direction?
A: Yes. As long as the letters do not contradict each other.
Q: Can I revoke a Letter of Direction?
A: Yes. A Letter of Direction can be overridden by writing an new Letter of Direction with amended instructions.
Q: Will Link Charity prepare a Will?
A: No. It is recommended that you contact a trusted, licensed professional to help with this important document.
Q: Does a Letter of Direction replace a Will?
A: No. A Letter of Direction is a separate document that is in addition to a will.
Q: Should I have Letters of Direction or Codicils in my Will?
A: A codicil is a legal document that makes minor modifications to an already existing will, and must be witnessed by two adult witnesses, in addition to being prepared by a licensed legal professional. A Letter of Direction covers specifics of existing will details without the need for witnesses or a legal professional to prepare the Letter. It is possible to have both. Link Charity can give more specific information based on your specific situation.
Q: Can other family members contribute to my Donor Advised Fund?
A: Yes. Multiple donors can contribute to your fund. Essentially you are creating a family named foundation, without all the paperwork.
Q: How often to I get a report on my fund?
A: Fund reporting can be annually or semi-annually, it is your choice. This can also be easily changed at anytime to suit your needs simply by notifying Link Charity of your wishes.
Q: How much does my initial investment have to be to set up the fund?
A: Initial investment is a minimum of $10,000.00.
Q: I get a tax receipt for my initial investments, but do I also get a receipt for subsequent investments in to the fund?
A: Yes. You are, in effect, donating to charity with each investment in the fund.
Q: Is there a maximum number of gifts that are released to charities from the fund?
A: No, there are no restrictions on the number of gifts released.
Q: What is the average rate of return in Link Charity’s investment pool?
A: Since Link Charity’s inception the average rate has been 8% per annum.
Q: Are there restrictions on the amount of capital that must remain in the fund?
A: No. The Donor Advised Fund with Link Charity is very flexible and customizable.
Q: I use another organization for Donor Advised Funds. Will GAiN still accept it? Am I expected to switch to Link Charity to give to GAiN through a Donor Advised Fund?
A: Yes, GAiN can accept Donor Advised Funds from organizations other than Link Charity and switching to Link Charity is not necessary.
Q: What is a Security?
A: A Security is a financial investment with a monetary value. It entitles the holder to ownership of a part of a publicly traded company. A security can be a stock or a debt obligation, such as a bond.
Q: Do I have to pay capital gains on the on the securities if I donate publicly traded securities?
A: No. The securities are not sold but transferred directly to the charity. This eliminates capital gains tax on the sale of the securities.
Q: Is there a cost associated with donating securities?
A: Yes. This fee is small in comparison to brokerage fees.
Q: Are there any tax incentives to donating a security?
A: Yes. No capital gains are assessed and a tax receipt is issued for fair market value of the securities.
Q: Can I designate multiple charities to receive donations through Gift of Securities?
A: Yes. You can distribute the proceeds to as many charities, in whatever amounts you choose.
Q: Can I make anonymous gifts?
A: Yes, the proceeds can be forwarded to the charities of your choice without your identity being revealed.
Q: Can I give a gift-in-kind to GAiN?
A: Yes. Gifts-in-kind, in Legacy Giving can be given through Link Charity. For gifts-in-kind outside of Legacy Giving, such as food items, contact your Relationship Manager for details of the types of gifts GAiN can accept.
Q: What are other types of Gifts-in-kind besides securities?
A: Other types of Gifts-in-kind include: food items (in bulk),
equipment, property, new household goods such as mattresses,
and bedding.
Q: What is a Charitable Gift Annuity?
A: A Charitable Gift Annuity is an arrangement under which a donor transfers capital (cash, securities, property) to a charitable organization in exchange for immediate guaranteed payments for life at a specified rate depending on life expectancy or for a fixed term.
Q: Can I outlive my Charitable Annuity?
A: No. Once the rate is set, it is set for life and payments cannot be outlived. There is no risk or worry with a Charitable Gift Annuity.
Q: Can a gift be designated to a specific GAiN initiative, such as Water for Life Initiative or Paraguay?
A: Yes, through a Letter of Direction, a specific initiative can be named.
Q: Can I name multiple charities in a Charitable Annuity?
A: Yes, Link Charity is the only company in Canada that can distribute your annuity to more than one charity.
Q: What is the current rate of return on Link Charity’s Charitable Gift Annuities?
A: The rate of return is dependent on several factors. See the reverse side of this document for sample annuity rate table, which is also available on Link Charity’s website.
Q: What is the difference between a Whole Life Annuity and a Charitable Gift Annuity?
A: A large part of your Gift Annuity is Income Tax exempt and an Whole Life premium or investment is not.
Q: Can I change charity beneficiary designations once I name them with Link Charity?
A: Yes, beneficiary designation can be changed at anytime.
Q: What is a Charitable Loan agreement?
A: A Charitable Loan Agreement is similar to a GIC – Guaranteed Investment Contract. The difference being that the loan is not make with your financial institution (ie. bank or credit union) but with a third party organization. This third-party organization deposits the funds in their investment pool and the payments to the you, are received from the investment pool.