Gifts of Cash

When a donor makes a gift of cash or property to George Jeffrey Children's Foundation, every dollar goes to support the building of our new Centre. An outright gift gives a donor the satisfaction of seeing their gift at work and knowing that lives are being changed because they cared.


 

Acceptable Gifts:

  • Cash
  • Cheques or Money Orders
  • Payments on Credit Card
  • Pre-Authorized Contributions (PAC), usually paid monthly

 

Benefits to George Jeffrey Children's Foundation:

  • Available for immediate use
  • Highly liquid
  • Easy to administer

 

Benefits to Donator:

  • Donation receipt for the full amount of gift
  • Straightforward, easy-to-understand transactions
  • Significant tax benefits depending on amount gifted

 

Most Appropriate For:

  • Donors who want to give a simple cash donation.

 

Common Questions & Answers

Q: Is an outright gift always made in cash?
Not necessarily, but a cash contribution - paid by cheque, money order or credit card - is the simplest way to give. Remember that a cheque or money order is considered to have been given on the day it was mailed, so a gift mailed late in December and received in January can still qualify for a donation receipt in the preceding tax year.

 

Q: What is the tax benefit of an outright cash gift?
Because a donor receives a donation tax credit for their gift, it is worth more than its actual cost. The federal tax credit is equal to 16 percent of the first $200 of donation receipts plus 29 percent of receipts in excess of $200. Since a federal tax credit also reduces provincial taxes, a donor's combined tax savings is substantial. Here's a general example assuming a combined tax credit of 45 percent.

 

William writes a cheque for $1,000 to the George Jeffrey Children's Foundation, but the net cost of the gift to him is only $550, because his donation receipt for $1000 reduces his income taxes for that year by $450.

 

Total Previous Donations

Under $200.00

Over $200.00

Federal credit

16%

29%

Provincial Credit:

 

 

    Taxable Income Under $60,000

6.05%

11.16%

    Taxable Income Over $70,000

9.44%

17.41%

Combined Tax Credit:

 

 

    Taxable Income Under $60,000

22.05%

40.16%

    Taxable Income Over $70,000

25.44%

46.41%

After Tax Cost of $100 Donation:

 

 

    Taxable Income Under $60,000

$77.95

$59.84

    Taxable Income Over $70,000

$74.56

$53.59

A donor may claim up to 75 percent of earned income in charitable donations each year. Donations exceeding the limit can be carried forward and claimed on future tax returns for up to five years.

 

Q: What is the best way to make a cash donation to the Foundation?

Our preferred campaign for cash donations is the Save Me A Seat campaign.

Donations to the Save Me A Seat campaign can be distributed in a number of ways.

  • $20 per month for four years (50 months)
  • $250 per year for four years
  • A one time donation of $1000

 

Monthly and yearly contributions can be done through direct withdrawal from your financial institution.

 

Click to view more information on Save Me A Seat 

 

Smaller, one time donations or donations for other amounts may also be made directly to the Foundation.

 

For more information or assistance with making a gift of cash, please call Mary Anne Schmidt at 623-6050 or consult your professional advisor.