Diocese of Saskatoon Catholic Foundation - Ensuring the blessings we have received will be shared for generations to come.

Enter your keyword

Donation Option  Minimum amount required Can you revoke the gift Do you  get income or use during lifetime?  Subject to probate Charitable tax credit available? When can charity use gift?
Outright gift now of cash or property  None  No No  No  Now Immediately
Bequest under Will  None  Yes, by changing your Will prior to death Yes  Yes  After death in your final tax return or return for the preceding year After Death
RRSP/RRIF  None  Yes, by changing your beneficary election prior to your death Yes  No  After death in your final tax return or return for the preceding year After Death
Charity is owner and benficiary of inusrance policy  None  No, if you don’t pay your premium, charity can pay them, reduce death benefits or cash in policy No  No  Now and as you pay future premiums Generally after death
Charity is the only beneficiary of insurance policy  None  No Yes, if you can cash in the policy, but then there is nothing left for the charity  No  After death in your final tax return or return for the preceding year After Death
Charitable gift annuity  Depends on life insurance issuer  No Periodic payout during lifetime  No  Now, based on the present value cost of the annuity Immediately
Charitable remainder trust  $20,000 – enough to justify required legal/trust fees  No You can use property and receive all income generated  Only if gift made under your Will  Now, based on gift value adjusted for life expectancy of life tenant After death of the tenant (income beneficary)
Endowment fund  Depends on purpose – check with Charity No No  Only if gift made under your Will Now, or on death for avialable gift under Will Income immediately, or after death if gift made under your Will.