Tag Archives: charitable gifts

November 27, 2015

Gifts of private companies and real estate to charitable organizations

By Clark Wilson of Clark Wilson LLP

Geoff White wrote an article for Leave a Legacy Vancouver about giving significant gifts to charitable organizations and new gifting opportunities coming in 2017. “With careful planning, [people] can share their success and pass along our community even greater than it was passed on to us,” explains Geoff. Check out the full article (page 18).

Posted in News | North America
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March 21, 2013

Gifts to Charities: Are they dependent on the donor’s tax deduction?

By Areet Kaila of Clark Wilson LLP

What happens if a donor makes a gift to a registered charity, receives an official donation receipt, but the tax credit claimed by the donor is later disallowed by the Canada Revenue Agency? Is there any way for the donor to then withdraw the gift to the charity?

In Neville v. National Foundation for Christian Leadership, two donations totaling $6,250 were made to the National Foundation for Christian Leadership (“NFCL”). In return for their donations, the donors received an official donation receipt, and their daughter received a bursary from the Christian Higher Education Assistance Fund (“CHEAF”), a scholarship program operated by the NFCL. The donation receipt included the following disclaimer:

Posted in Legal Updates | North America
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May 26, 2012

Biggest. Gift. Ever.

By Richard Weiland of Clark Wilson LLP

Media including the Vancouver Sun and CBC are reporting the completion of a $21.4 million gift to BC Cancer Foundation made by Burnaby property developer William McCarthy from a legacy fund created under the will of his grandfather John Jambor, who died in 1991. It appears that Mr. Jambor’s will left a shopping plaza at 5000 Kingsway to a charitable fund managed by Mr. McCarthy. Mr. McCarthy spent the last 20 years developing the property to build up its value and has now fulfilled his grandfather’s intentions with a donation and buyback transaction.

Posted in Legal Updates | North America
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