Gifts and Donations
Sustaining the Spirit of the Rockies
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 second quarter-century,
it requires your generosity more than ever. 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.
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. 100% of the money raised goes towards the Foundation and the expected annual fund-raising amount is $20,000. The Foundation is incorporated at Banff under Part 9 of the Alberta Incorporations Act and is located at 111 Bear St., Banff, AB. Interested parties may contact Executive Director E. J. Hart at (403) 762-2291, ext. 327 for further information.
How Do You Benefit?
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. We are always prepared and happy to discuss these
matters with them too if you so wish.
Let's get together and talk it over!
U.S. Donations
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 planned
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.
Donate now through CanadaHelps.org!
Faire un don maintenant par CanadaHelps.org!
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.
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 planned 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. Please contact us for more details.
How to proceed
Do you need some help with wording for a Bequest or
other Planned Gift? Would you like to discuss a planned giving
initiative with us?
We're here to help so please call the Executive
Director of the Peter and Catharine Whyte Foundation at (403)
762-2291 ext. 306 or write to Box 160, Banff, AB. T1L 1A3 or by email. |
