Types of Giving
Some of the common types of gifts to Augustana are:
- Cash, cheque, and credit card gifts
- Bequests and Wills
- Gifts in Kind
- Real Property
- Residual Interest Trust
- Insurance Policies
We welcome you to contact the Development office at 780.679.1558 or toll-free at 1.800.590.9992.
Cash, cheque and credit card gifts
Gifts of cash are available for immediate use by Augustana and are usually fully deductible for donors. A gift of cash begins to make a difference instantly – programs are enhanced, professors are retained and top students are recruited.
More information on how to make a cash, cheque, or credit card gift.
Bequests and Wills
You can choose to leave some or all of your estate to Augustana. This could include cash, investments, property, real estate or other assets of your estate. By indicating your wish to donate in your will, you can make a substantial future gift that will not affect your current lifestyle.
A bequest is often referred to as the "Ultimate Gift" because it is a gift of cash or property that an individual makes in their will, and usually takes one of the following two forms:
-
An unrestricted bequest allows the University to use the donor's gift where it is felt to be needed most.
- A restricted bequest is a gift with a specific purpose. The donor may specify the gift be used for a particular area of interest (i.e., scholarships, bursaries, endowments, or research). Restricted gifts may be endowed in perpetuity or may be directed to serve a one time purpose.
Gifts in Kind
Do you have a valuable collection of books or memorabilia? Are you able to donate equipment or other supplies that Augustana could use? If so, you can make a Gifts-in-Kind donation.
Gifts-in-Kind are eligible for the same kinds of tax benefits and recognition as other gifts; however, the gift must undergo an assessment procedure at which time a tax receipt will be issued.
Real Property
You may give a gift of real property. Real property includes residential and commercial real estate, developed and undeveloped land, and farmland. Such gifts may be used to either enhance current programs or alternatively may be converted to cash proceeds to be used for purposes designated by the donor.
Gifts of Real Property can be made either through the Donor's Estate or during their lifetime.
Residual Interest Trust
This type of gift occurs when an individual irrevocably gifts a piece of property to a charity, usually real estate or art work, but retains the right to use that asset for the rest of the donor's life or for a specified period of time. Fair Market Value of the property is determined at the time of the gift.
Insurance Policies
Insurance policies enable you to make a significant, lasting gift to Augustana, with a minimal outlay of current savings or income. Making Augustana the beneficiary OR the beneficiary and owner of an insurance policy will provide different benefits to the donor.
By making Augustana the beneficiary of a policy, your estate will be issued a charitable gift receipt provided the policy is included in your Will. The proceeds from life insurance policies may be directed to the Augustana project or fund you have personally selected.
By taking out a new life insurance policy with Augustana designated as the beneficiary and owner, you will receive a charitable gift receipt for the policy premiums you pay each year.
Gifts to Augustana are tax-deductible under the guidelines set by the Canada Revenue Agency. We encourage you to consult with a qualified financial advisor for the most accurate information with respect to your particular situation.