Other Ways to Give
Annual cash donations are an important means of supporting OMAH and its operations. However, there are other ways to give that may offer advantages which appeal to some donors. Gift planning helps you achieve your financial goals while also supporting the meaningful work of the Museum.
Artwork or Artifacts
If you have a piece of art or an object reflective of the history of Orillia and area, consider donating it to OMAH for addition to our collection.
In return, you’ll received a donation tax receipt equal to the appraised value of the work along with an acknowledgement of your donation in OMAH’s collection records.
Donation of Securities
Did you know that when you donate publicly-traded securities or mutual funds, there are benefits for BOTH you and OMAH? When you give securities including stocks, bonds, and mutual funds:
- You eliminate the capital gains tax on disposal of the securities
- You get a donation tax receipt equal to the value of the securities
A gift of securities can be made at any time as part of you annual donation or as a bequest in your will. No donation is too small! Whether you have securities of $200 or $200,000, your gift will make a big difference.
For more than 20 years, OMAH has been a cultural hub for arts and history in Orillia. With a gift in your will, you help OMAH educate, inspire and entertain visitors in the future.
A bequest is a future commitment that does not restrict your current financial security as both the principal and income of your estate are available during your lifetime. Bequests are of significant value to OMAH and an easy way to leave a legacy.
Bequests are accomplished through a written and executed will naming OMAH as a recipient of a specific piece of property, collection, sum of money, or portion of your estate. Bequests may be tailored to your wishes or circumstances and no bequest is too small to make a difference.
Undesignated bequests support the Museum’s highest priorities in the year the gift is received. Your estate will receive a donation receipt for the full amount of the bequest, which can assist in reducing the tax payable on your final income tax return.
Alternatively, a designated bequest can be made in support of a specific program (e.g. future acquisitions) or to increase the endowment in OMAH’s name held by the Community Foundation of Orillia & Area. This endowment provides that the principal of the bequest is invested and only the income is transferred to OMAH annually.
Sample Undesignated Bequest Wording
To pay to the Orillia Museum of Art and History the sum of $.. (or …% of the rest, residue and remainder of my Estate) to be used to support and fund its ongoing operations and programs.. Legal Name: Orillia Museum of Art and History | Charitable Number: 13723 0587 RR0001
If you are interested in remembering OMAH in your will, we can provide you or your lawyer with sample wording to address your wishes.
A gift of life insurance is a simple and affordable way to make a future major gift to OMAH without reducing the assets in your estate.
- Donate an existing policy making OMAH the owner/beneficiary. Receive a charitable tax receipt for the cash surrender value and for all future premiums you pay. Save estate probate taxes when proceeds on death pass on to OMAH.
- Take out a new policy and assign ownership to OMAH. Receive a charitable tax receipt for all premiums you pay. Save estate probate taxes when proceeds on death pass on to OMAH.
- Retain ownership of the policy (personal or Group Life); name OMAH as the direct beneficiary upon your death. Your estate will receive a tax receipt for the amount of the proceeds received by OMAH.
Alternatively, if you wish to make a gift of cash or property now and watch it work, an insurance policy can replace those assets in your estate, and your current gift will earn tax credits immediately.
If you are interested in learning more about any of these “other ways to give’, please contact Monica Szegvary, Operations Coordinator at email@example.com