Special Donation Options

Tributes

Bequests

Securities

Charitable Trusts

Life Insurance, RRIFS, RRSPs, LIFs, LIRAs and Annuities

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Thank you for considering a special donation to our organization. As a not-for-profit charitable organisation, your support is essential to us. In addition to general contributions, many families wish to make the following kinds of special donations. PROCURE is pleased to accept many forms of donations. Please contact us at info@procure.ca or at 514 341-3000 or 1-866-899-CURE (toll-free) should you require additional information on the options listed here.

Tributes (In Honour or In Memory)

Tribute donations can be made either to commemorate a special occasion or to memorialize a loved one. Simply make a donation using the memorial donation form or the honorary donation form (or follow the procedures at CanadaHelps.org) and we will send an acknowledgement to the appropriate individual(s). The amount of your gift will not be disclosed, and you will receive an income tax receipt.

The most popular types of In Honorarium occasions include birthdays, wedding anniversaries, births, religious rites of passage, and well wishes following a surgery or illness. Of course, we stand ready to accommodate any situation you feel deserves tribute.

PROCURE is also deeply honoured to accept In Memoriam donations paying tribute to a loved one, and to assist families with what can be a difficult and emotional time. Often families find comfort in knowing that future generations will benefit from the preventative education and scientific discoveries that our Alliance advocates and motivates. If a family requests so, we can have memorial giving forms sent directly to the funeral home or other location where services are to be held.

Bequests

Bequests are donations that are stated in a will or codicil. This form of planned giving is the most common. Often families who are afflicted with prostate cancer are motivated to decrease risks and find solutions to benefit their children and grandchildren. A bequest to PROCURE is a legacy of hope, prevention and scientific discovery which will benefit future generations. Yes, there are tax benefits to making a bequest, but the real reason to make such a gift is the satisfaction of helping those who follow us in this world.

You should consult a lawyer or notary to explain the various kinds of bequests you may make and to help you draft your intended gift. What follows are wording samples you and your legal professionals may wish to use as guides for your own text.

"I give PROCURE the sum of $.............."

OR

"I give PROCURE ............% of the residue of my Estate."

If you wish to designate a specific purpose to your gift you may say:

"I give PROCURE the sum of $............ to form part of its permanent endowment. The annual income is to be used for the purpose of ............................"

OR

"I give PROCURE .................% of the residue of my Estate to be used for the purpose of ................................."

It is important to remember that time and circumstances can change and there may be a point in the future when a specified purpose is no longer practicable or appropriate. We suggest that you ask your legal advisor to include authorization for the Board of Directors of PROCURE to direct the gift to the closest equivalent application or toward general purposes.

Securities (Stocks, Bonds, Bills, Warrants, Futures and Mutual Funds)

Gifts of publicly listed securities traded on approved exchanges that have grown in value since they were first purchased offer special benefits when donated directly to a charity. If you were to just cash in your securities, you would have to pay taxes on 50% of the capital you gained. However, thanks to special provisions, if you transfer the securities to PROCURE you will only end up paying tax on 25% of the money you gained.

In other words, it is more advantageous for a donor to transfer a stock, bond, or other form of security directly to PROCURE than to cash it and then make a donation. A donation receipt is provided for the fair market value of the security on the date of the transfer to PROCURE.

Please contact us to receive instructions on how to have your broker transfer your securities electronically.

Charitable Trusts (Remainder Trusts and Residual Trusts)

Charitable trusts allow donors to make significant contributions today while at the same time maintaining the right to receive income interest from or use of the gift for life. In effect, donors "give the tree, but keep the fruit."

Many men with prostate cancer seek means to provide for the financial needs of a spouse (or other heir) for life. A charitable remainder trust could help accomplish this. For example, a donor transfers cash and securities by trust arrangement to PROCURE. This irrevocable gift is then professionally managed and all of the income from the trust will be distributed to the donor or their spouse, on a regular basis. A tax receipt is issued immediately for the current value of the gift, which is calculated by using the donor's life expectancy and an appropriate discount rate. Donors could thus receive a substantial tax refund despite the fact that they, or their spouse, will get income from the donated assets for the rest of their life.

A donor contributing a residual trust donates an asset such as a permanent residence or work of art today, but retains use of it during his/her lifetime.

At the time of the donor's death, or, in the case of a joint arrangement, the death of a second person, the portion of remaining donated capital becomes available for PROCURE's use.

We encourage you to consult a lawyer or financial advisor before establishing a trust.

Life Insurance, RRIFS, RRSPs, LIFs, LIRAs and Annuities

For some donors, life insurance may be the only way to make a substantial gift to PROCURE. An insurance policy is contributed to PROCURE in one of three ways: a donor assigns irrevocably a paid-up policy to PROCURE; does the same for a policy on which premiums remain to be paid, in which case the donor qualifies for a tax deduction on the premiums paid; or names PROCURE as a primary or successor beneficiary of the proceeds.

Individuals with no surviving spouse will have, upon death, their RRIFs, RRSPs, LIFs or LIRAs deregistered to become fully taxable as income, usually at the highest marginal tax rate. By giving these RRIFs, RRSPs, LIFs or LIRAs to PROCURE, taxes on the proceeds are essentially eliminated. This can now be done directly through an RRSP or RRIF and it is not necessary to name the charity as a beneficiary in your will.

A gift annuity is an irrevocable transfer of money or other assets to PROCURE. Using the donor's capital, PROCURE purchases a life annuity and becomes its owner; any amount exceeding that required to produce the donor's lifetime income based on the annuity cost will go to PROCURE.

Donors can receive tax free income for life as well as a tax receipt for a portion of the gift.

As with all other forms of planned giving, PROCURE encourages donors to consult the proper legal and financial advisors to discuss which options are right for their circumstances.