Bequests
Your Power to Inspire, Influence and Secure the Future of Canadian Performing Arts
When planning for family and charitable priorities we ask that you consider including Friends of the NAC Orchestra (FNACO) in your planned gifts (giving). We are a well-established institution and are perceived by the Ottawa music community as having a long-term future and encourage outright and deferred gifts such as bequests and other gift arrangements that require little administration or liability.*
Testamentary Giving/Securing Charity. This is the process of designing charitable gifts so that the donor realizes philanthropic goals whilst maximizing tax and other financial benefits. Charitable giving is very important to Canadians1 and planned gifts offer very good tax advantages. The Government offers generous incentives through tax credits to encourage giving both in life and on death. It is, in addition, a way to obviate the possibility of unwanted government interference in the administration of our estates.
Endowments can assure the flow of income that can sustain services when other sources of revenue are reduced and help mitigate economic changes.
Check with your financial advisor about the most appropriate way to make your gift.
Proper Estate Planning. This allows us to use our accumulated wealth to provide for those we care most for and is a thoughtful vehicle to reflect our passion for the Canadian performing music arts and the young talented artists who will carry forward our arts future.
Consult with your estate planning professional with respect to your own individual circumstances regarding Will planning and how you can best provide for the people and causes that matter the most to you.
How do FNACO invest legacy funds? All Bequest activities are subject to oversight by the Board of Directors of FNACO. Prudence and probity govern the investment strategy for legacy funds thus we invest in securities that are as risk-free as possible while earning an acceptable return. The objective is for the earnings of such funds to be an ongoing source of financial support, which in turn reflects the intent of the legators. Funds of this nature are classified in FNACO financial reports either in the name of the testator (-trix), or as part of a “general” pool of contributions.
The earnings (interest) of legacy funds are used only for the musician support programs of FNACO.
The earnings of an individual legacy can be designated as the source of funds for a specified periodic award.
The interest portion of income available is used for artistic support in accordance with our Constitution Aims and Objectives to promote orchestral music, the interests of the NAC Orchestra and develop future audiences through young people’s music programs and projects.
* The material contained herein is provided with the understanding that the author is not rendering legal or other professional advice and is intended only to provide general information on gift planning.
1 Planned Giving for Canadians, Minton, Frank and Somers, Lorna, 1997 (updated 2000), ISBN 0-9698253-0-7.