Ways to Give Back
Volunteerism
An essential and valued contribution that parents and friends can make to the school is by giving your time through volunteerism. IPS families can consult the School Handbook to determine what volunteer opportunities exist. Community members can also contact Barb at 604-947-9311 to inquire how your talents and interests can be help make a difference in the lives of students and teachers.
Annual Giving
Nearly all independent schools in North America depend on annual giving campaigns. Tuition fees typically cover 70% to 80% of a school's costs for delivering a high-quality education. The balance is made up by government grants, bursaries, fundraising initiatives and, especially, annual personal donations. With the launch of our first Annual Giving Campaign, we hope to raise $20,000 by June 30. 2009. The Board has already take a lead with donations of $4,000 and the staff have begun their own campaign. We would love to see 100% of Island Pacific School families, past and present, make contributions, too.
Cash
The school accepts cash and cheque donations throughout the school year. Cheques are made payable to Island Pacific School Society, Box 128, 671 Carter Rd., Bowen Island, B.C., V0N 1GO
VISA / MasterCard
Making a donation through Canada Helps is simple. You simply choose Island Pacific School as your charity of choice, identify any special requests associated with that gift (memorial designations, specific project requests, frequency of gift, Gift Card, etc.), and begin the checkout (or payment) process. Once the donation has been paid for, you will receive an immediate, secure PDF tax receipt, issued by CanadaHelps, by email. CanadaHelps then disburses the funds (less a 3% transaction fee) to IPS, along with any special requests associated with that gift, and in the manner the donor specified at checkout.
Company Matching Programs
Many companies and corporations have programs for their employees where their charitable gifts are matched. Please contact your Human Resource Department to find out if a program exists.
Aeroplan Points
If you are in business and you have accumulated a significant number of Aeroplan points than consider directing a portion of them to an IPS faculty member who needs to travel by air to an IB-MYP conference in Eastern Canada or parts of the United States. Please let Barb know if you are open to giving back to the school in this unique way.
Gift in Kind
In-kind gift donations to Island Pacific School occur when you donate property, furnishings, works of art, cases of wine, or computer equipment. Whatever the form, your gift will be appraised by an independent professional and you will be eligible to receive tax benefits for the fair market value of your gift.
Planned Giving
Consider purchasing a new life insurance policy and naming Island Pacific School as the beneficiary. The premiums you pay will be recognized as a charitable gift and you will be eligible to receive tax benefits. Alternatively, by donating an existing policy to IPS you will receive tax benefits for the cash surrender value and any accumulated dividends or interest.
Registered Retirement Savings Plans and Registered Retirement Income Funds
Consider naming Island Pacific School as the beneficiary of all, or a portion of, your RRSP or RRIF. A change in the federal law in June 2001 now makes it possible for you to name charities directly as beneficiaries. Your estate will be deemed to have made the gifts and be entitled to an offsetting charitable receipt.
Gift of Securities
Donations of publicly traded securities help the school enormously and can save you from having to pay additional income tax. As of May 2006, the Federal Government eliminated capital gains taxes on donated stock. Eligible securities include shares, bills, futures, and units in mutual funds that are traded on Canadian, U.S., and international exchanges as prescribed by the Income Tax Act. An example of the tax benefits is detailed below when $10,0000 of stock is donated to the school.
|
Option #1: Sell |
Option #2: Sell |
Option #3: Donate |
Fair Market Value of Stock |
$10,000 |
$10,000 |
$10,000 |
Initial cost of stock |
$2,000 |
$2,000 |
$2,000 |
Capital Gain (fair Market Value less cost) |
$8,000 |
$8,000 |
$8,000 |
Taxable Gain |
$4,000 |
$4,000 |
$0 |
Tax Payable on Gain @ 43.7% |
$1,748 |
$1,748 |
$0 |
Charitable Gift Receipt |
N/A |
$10,000 |
$10,000 |
Net Tax Benefit from Donation |
-$1,748 |
$2,622 |
$4,370 |
Net cost of Gift After Tax |
N/A |
$7,378 |
$5,630 |
