Deferred Gifts
Make a donation
Le FIFA is the largest festival of films on art in the world.
It has international outreach, and every year it enables several tens of thousands of people to learn, be inspired, have conversations, be moved, be amazed, and more. Supporting Le FIFA means perpetuating the Festival’s mission as a driving force for bringing people together and reflection as a community, while achieving the ideal of culture for everyone.
Deferring a donation allows you to optimize both the impact of your gift and your tax benefits.
Why give to the International Festival International of Films on Art (Le FIFA)?
So that it can present local and international works under optimal conditions
So that it can be even more innovative and share its programming with more people
To support its educational mission
So that it can continue to spread happiness
To support a Québec institution
What is a deferred gift?
Deferred gifts are all donations that fall under financial, tax, or estate planning. A deferred gift is an excellent way for you to make a mark with your philanthropic activity. Whatever type of deferred gift you’re considering, it can lead to a significant tax reduction.
For more information
You can visit Gouvernement du Québec’s website (in French only) to learn more about deferred gifts.
You can also send us an email at dons@lefifa.com.
Types of Deferred Gifts
Legacy gift
This is the most common type of deferred gift. A legacy gift offers you the option of donating a set amount, a percentage of the residue of your estate, real property, a movable asset, or any other asset to Le FIFA, after seeing to the security of your family. A deferred gift is a simple and effective way to ensure the perpetuation of the Festival through your generosity.
There are many advantages to the legacy gift.
It enables you to preserve the entirety of your financial resources during your lifetime and to control your assets until your death.
If your financial situation changes before your death, you can change your will at any time.
When you make a legacy gift, you receive a tax receipt applicable to your succession that can reach up to 100% of the net income for the year of the death, and the excess can be applied to the year preceding the death.
Life insurance donation
This type of donation provides significant tax savings and also guarantees important revenue for Le FIFA. There are several ways to make a life insurance donation:
By subscribing to a new life insurance policy and designating Le FIFA as owner and beneficiary, while continuing to pay the premiums. For each premium paid, you will obtain a tax receipt equivalent to the amount of the premium. When you die, Le FIFA will receive the capital.
By designating Le FIFA as beneficiary of a life insurance policy while retaining ownership of the policy. Le FIFA will issue a tax receipt to your succession.
By subscribing to a new life insurance policy and irrevocably transferring ownership of the policy to Le FIFA. Official tax receipts will be issued for the amount of the death benefit and for the premiums that you pay after the transfer.
The gift of movable assets
A gift of movable assets (publicly traded shares, bonds, securities, or mutual funds, for example) consists of making a donation without encroaching on your liquid assets. This type of donation is highly advantageous in terms of taxes, as it lowers the cost of accumulated capital gains. In addition, it is a quick and easy process that can be completed in several days by electronic means.
The gift of real estate
You may make a gift of real estate, such as a family residence, to Le FIFA and continue to use it until your death. At the time of the donation, Le FIFA will issue a tax receipt corresponding to the property’s commuted value. If your gift is for a property other than the principal residence, 50% of the capital gain is taxable.
The charitable trust
This allows you to donate a substantial amount of money to Le FIFA, while continuing to receive the income generated from the capital of the amount transferred for a determined term or throughout your life, depending on the conditions under which the trust is established. When you die or the term ends, the trust will transfer the capital to Le FIFA. This type of donation allows you to be free of any concern with asset management.
