From its beginning the Whyte Museum has been supported by private donations. Peter and Catharine Whyte's dream of collecting and preserving the history and art of the Canadian Rockies began with their donation of art, artifacts, archival materials, and the initial endowment funds. Now, members and donors help provide the funds for the Museum to grow and prosper. As the Museum embarks on its fifth decade, it requires your generosity more than ever.
The Whyte Museum of the Canadian Rockies (Peter and Catharine Whyte Foundation) solicits donations to further its work in collecting, preserving, and making available to the public the cultural heritage of the Canadian Rockies. One hundred percent of the funds raised by the Foundation are dedicated to support the Whyte Museum. The expected annual fund-raising amount is $50,000. The Foundation was registered in 1958 under Part 9 of the Alberta Companies Act as a registered charitable organization (Registration Number 107837643 RR0001) and is located at 111 Bear Street, Banff, Alberta.
Your ongoing support is vital to our collections, exhibitions, programs and operations. We move forward secure in the knowledge that with your assistance, we will continue to celebrate and serve our mountain communities, and by so doing continue to preserve and enrich Canada’s cultural heritage.
To discuss any of these options, please contact Executive Director, Peter and Catharine Whyte Foundation, Graeme Nunn, at 403-762-2291, ext. 305.
U.S. Donations • Outright Gifts • Planned Giving • Life Insurance - Museum named as beneficiary • Life Insurance - Museum named as owner • Charitable Remainder Trust • Charitable Gift Annuity • Endowment Fund
The Whyte Museum of the Canadian Rockies can issue U.S. tax receipts for donations by American taxpayers in cash or kind. This is an excellent way for our American friends to donate to the Museum's operations or collections and receive a tax benefit for their generosity.
An outright gift of cash, securities, real estate, or other tangible personal property is the most direct form of gift. Outright gifts appeal to those who want the satisfaction of seeing their gift at work immediately or in the near term and have discretionary funds, investments, or property at their disposal. The cash or appraised value of the gift is eligible for an income tax receipt and immediate donor recognition.
The Whyte Museums Planned Giving Program is one way that we can provide for the future while maintaining the tradition of the past. Planned gifts are arranged during the donor's lifetime and provide benefits to both the donor and the Museum. The donor receives tax benefits or other financial savings, recognition, and the sense of accomplishment and well-being that goes with providing for the future of the Museum and its work. The Whyte Museum receives a steady flow of income to assure long-term financial stability. A will containing a bequest of cash, securities, real estate or other tangible personal property is the most popular form of planned gift. Bequests appeal to those who want the satisfaction of providing for a future gift while retaining control of the property during their lifetime. A tax receipt is provided to the estate for the final tax return and the value of the gift is eligible for donor recognition in perpetuity. All avenues of planned giving have differing and substantial rewards in return for the donor's generosity. We can provide you with basic information on the tax and financial benefits of your gift, but we would also advise you to consult with your own financial advisor.
A very practical way of providing for the Museum's future is a life insurance policy with the Museum named as beneficiary. Life insurance planned gifts usually appeal to persons whose needs and family situation may be subject to change. The proceeds of any whole life or term policy may be paid directly to the institution or, if tax of the estate is a concern, to an estate with a bequest of an equivalent amount and the value of the gift is eligible for donor recognition in perpetuity.
Another aspect of life insurance planned giving is where a donor purchases a policy with the Museum named as the owner. This type of gift is suited to those who have an older insurance policy that is no longer needed or who want to make a large gift but have limited resources. The donor pays the annual premiums and receives a tax receipt for their value plus the cash value of the policy when it is paid up. Donor recognition occurs as the premiums are paid and when the policy is paid up.
This is an attractive form of planned gift of cash, securities or real estate because the donor keeps the gifted property or the income from it for life and also receives an income tax receipt. It appeals to those who need the use of their income but wish to provide for the Museum in the future and still receive current tax relief. The amount of the receipt is for the residual interest of the trust and is determined by a formula.
This is a variation on the remainder trust planned gift with respect to cash or securities. This will appeal to older donors wishing to have guaranteed life payments all, or substantially, tax free. An annuity is purchased that guarantees an income for life, or a period of years, and the Museum receives a gift of whatever principal remains after making the required payments.
The Whyte Museum Endowment Fund has been established to secure the Museum's financial resources and allow it to continue to operate in perpetuity. Donations, such as those received as Planned Gifts, are built up over time and invested wisely, allowing the Museum to generate the annual income it needs to offer exhibitions, programs, and services and to expand and improve its collections. Donors may wish to contribute to the Museum's general endowment or to establish a named endowment to support a particular area of the Museum's activities.
