Ways to Give

StFx’s faculty and staff help students every day. Giving through payroll deduction is another meaningful way to show that we believe in our students, the importance of higher education and the mission of our university.

Whether it’s a one-time donation or regular donations through payroll deduction, your participation is what matters most.

PAYROLL DEDUCTION AUTHORIZATION FORM

Gifts of securities may be made during your lifetime or as a gift in your will, resulting in the same tax benefits. 

Consult with your financial advisor to decide which of your investments are best to donate.

Use this document to access information on how to initiate the transfer of securities to StFX University. Please ensure either you or your broker contacts us before the transfer takes place to avoid a delay in the preparation of your tax receipt.

GIFT OF STOCK TRANSFER FORM 

For many Xaverians, parents, and friends, a bequest is the simplest way to create a meaningful legacy at St. Francis Xavier University. By establishing a planned legacy gift, you will be making a lasting impact on the future of StFX and our students.

A gift in your will could help you leave a larger gift than might be possible during your lifetime. It is as easy as including a bequest for a fixed amount or a percentage of your estate when you write or update your will.
 
We can help by providing the necessary wording your lawyer can put into proper legal form. Your estate will receive a valuable tax credit that will reduce or, in many cases, eliminate income taxes due to your estate.

Whenever the time is right, please let us know of your decision to remember StFX in your will.  

If you have any questions about leaving a gift in your will or the impact of your investment, Maria Hartery is here to help.

Email Maria

There are several ways to make a gift of life insurance:

1. Purchase a life insurance policy and make StFX both the beneficiary and owner. With this option, you will receive a tax receipt for the annual premiums paid. This way, you can make a substantial future gift at a considerably reduced after-tax cost.
2. Assign an existing policy to StFX. You will receive a tax receipt for any cash value in the policy. While there may be a taxable gain to report as income, the resulting tax credit could be greater than any income tax triggered by the donation. In some cases, it may be possible to receive a tax receipt for the fair market value of the policy as determined by an actuary (less any policy loans outstanding).
3. Name StFX as a beneficiary of a policy without transfer of ownership. In this case, an immediate tax receipt is not issued, but your estate will receive a tax receipt when the policy is paid. The receipt will produce a tax credit for your final tax return.

A life insurance policy naming StFX as a beneficiary is processed outside of your estate and therefore is not subject to probate taxes or challenges to your will.

All discussions are held in strict confidence and do not require any commitment on the part of the donor.

Get in touch to learn more:
Should you have any questions or require additional information about leaving a legacy gift, Maria Hartery is available to assist you and your advisor.

Email Maria

Unless you are able to transfer them to a spouse, the funds remaining in your RRSP or RRIF at death are included in your taxable income in the final year of life. This means that your estate will have to pay the income tax on the full amount of your RRSP or RRIF and a much smaller amount will be transferred to your intended beneficiaries. When you direct your registered retirement plan to a charity such as the university, there is no income tax payable and 100% of the funds are transferred.

Benefits to You:

• Proceeds do not flow through your estate and are not subject to probate fees or income tax payable.
• The amount of the charitable tax receipt can be applied against all other income tax payable.
• You don’t have to involve a lawyer and it doesn’t cost anything to change the beneficiary name on your plan.
• Your estate is left intact for your heirs.

Essential Information: 

Designating StFX as the beneficiary of your RRSP or RRIF is easy. Simply contact your plan administrator / financial institution and request an RRSP/RRIF Multiple Beneficiary Designation form then name the university as the beneficiary (or one of your beneficiaries) and return the form to your plan administrator.

Get in touch to learn more:

Should you have any questions or require additional information about leaving a legacy gift, Maria Hartery is available to assist you and your advisor.

Email Maria