Types of Giving

Direct financial donations play a large role in the faculty, but you can also contribute in other creative ways.

For more information on any of the above giving opportunities, contact the Faculty of Medicine & Dentistry Office of Advancement.


Bequests

When you name the University of Alberta in your will, you commit to world-changing research and the education of future generations. Your gift can include cash, securities, retirement funds, real estate or other property. Talk to your financial adviser about the options. The most common types of bequests are:

  • Residual bequests: Designate all or part of your estate to UAlberta. The advantage is that there is no need to update that part of your will, even as your estate adjusts in size.
  • Specific bequests: Designate a fixed dollar amount or a specific property to UAlberta. The advantage is that the size of the gift remains fixed and is the first to be distributed.
  • Gifts of cash, securities or combinations of both are welcome.

Up to 100% of net income can be claimed as a donation in year of death and year preceding

How it Works

  • A donor leaves $150,000 to the University of Alberta in her will. Assuming the total net income on her final tax return was $100,000, and her net income the previous year was $75,000:
  • A donation of $100,000 can be claimed on her final tax return.
  • A donation for the remaining $50,000 can be claimed on her previous year’s return.
  • Her estate receives a total tax credit of $75,000 between her final two tax returns*.

*Tax credit depends on donor’s income and specific circumstances.


Gifts of Publicly-Listed Securities

Publicly listed securities include financial instruments such as stocks, bonds and mutual funds. Donating them directly to the University of Alberta makes a difference and may entitle you to some significant tax benefits. When you transfer securities to UAlberta, you receive a tax receipt for their fair market value. Any capital gain will not be taxed, whereas 50% of the gain is taxable if you sell them and donate the proceeds. The tax credit can offset taxes owing on up to 75% of your taxable income in the year of the gift.

Any unused portion of the receipt can be carried over for up to five more years. If you donate securities through your will, your estate will get the same tax benefit and a receipt that can reduce up to 100% of your net income in the year of your death. Any remaining part of the receipt can be used to claim a tax refund from the previous year.

Shares, bonds, mutual funds, warrants, options can all be donated.
Capital gain not taxed when certain securities gifted.

How it Works

A UAlberta supporter donates shares valued at $50,000 (with a $40,000 capital gain):

  • She receives a $50,000 tax receipt. *
  • She receives a $25,000 tax credit. *
  • She avoids paying $7,800 in tax on the capital gain.

*Tax credit depends on donor’s income and specific circumstances.


Gifts of Life Insurance

If you want to make a lasting contribution to the University of Alberta while ensuring your family is looked after, consider a gift of life insurance. Donating life insurance can also have considerable tax benefits. Here are two options:

  • Name UAlberta as a policy beneficiary: Retain ownership and control over the policy; bypass probate fees; apply tax receipt to your final tax return
  • Name UAlberta as owner and beneficiary of a new or existing policy: Immediate tax receipt for fair market value of policy (if transferring existing policy); tax receipt for all subsequent premium payments

Only modest, regular payments required.

Maximize tax credits to your estate.

Get tax receipt from premiums.

How it Works

An alumna purchases an insurance policy that has a death benefit of $100,000 and names the University of Alberta as owner. She pays premiums of $2,000 per year for 10 years, after which the cash value is expected to be sufficient to sustain the policy.

  • The $2,000 annual premium payments are eligible for a tax receipt.
  • The donor gets a tax credit of $1,000 on the annual premium payments.*
  • The donor pays a total of $20,000 in premiums for a future gift of $100,000.

* Tax credit depends on donor’s income and specific circumstances.