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By Drache Aptowitzer LLP | 3 Minutes Read December 15, 2015

Planned giving donors should make sure strings are attached

Planned giving has been an issue of interest to the charitable sector for several years. The enthusiasm by which the sector has taken up the discussion has permeated the donor community. As a result donations by will are a common occurrence. But if the donor does not monitor developments with the charity the gift could lapse and frustrate the donor’s intentions to support the organization.

Article by Drache Aptowitzer LLP / Not for Profit / Canada Revenue Agency, charitable gift, Donations, donor, donor’s estate, gift, Planned giving, receipt, tax receipt, the donor community, Wills and Estates, wording of the will

By Drache Aptowitzer LLP | 3 Minutes Read February 9, 2015

Balancing confidence and flexibility in gift planning

One of the unstated pillars of gift planning is to find ways of assuring a donor that his/her wishes will be carried out after death. Unfortunately, this can be a double-edged sword. While it may help convince a donor to give now the future needs of a charity can be difficult to anticipate. Consequently, it is important to balance flexibility with respect for the donor’s wishes when discussing gift planning arrangements.

Article by Drache Aptowitzer LLP / Not for Profit / charities, donation, donor, donor’s wishes, end of life gift planning, Foundation, gift planning arrangements, long term endowment gift from a donor

By Drache Aptowitzer LLP | 3 Minutes Read May 15, 2014

Donations in kind and appropriate due diligence

charity-donationCharities need to be vigilant when accepting donations in kind. These include any non-monetary items, such as art, rare books, equipment and materials, personal objects of value, real property and computer-related assets. Receiving such donations is quite acceptable, but only after proper due diligence and professional advice is sought and followed. Donations in kind must be properly valuated by independent third party valuators specialized in such work. For art and other related assets, there are additional steps that must be followed in regard to seeking approval of the government agency responsible for monitoring such acquisitions, the Canadian Cultural Property Export Review Board. At least two separate valuations should be obtained. These independent valuations should be the basis for determining the amount on the charity receipt issued to the donor.
Some assets are easier to valuate than others. For example, the donation of real property can be assessed by real … Continue reading “Donations in kind and appropriate due diligence”

Article by Drache Aptowitzer LLP / Business, Not for Profit / Canadian Cultural Property Export Review Board, charitable donations, charity receipt, donation of real property, Donations, Donations in kind, donations of gifts, donations of unusual assets, donor, Drache Aptowitzer, Due diligence, errors or omissions, independent third party valuators, independent valuations, liability insurance, Mark S. Anshan, market value, professional advice, properly valuated, Valuating the donation of software

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