A charitable trust is a type of philanthropic fund that allows donors to give money to a chosen cause. The donations are then used to support the charitable activity outlined in the trust agreement. If you are considering making a donation this year, you may wonder why you should consider making a donation to charitable trust.
Tax Benefits
The government offers some tax incentives for those who donate to registered charities. When you make a donation, you will receive a tax receipt that can be used to claim a credit on your income tax return. The amount of the credit will depend on the amount of your donation and your province of residence.
Outlined Purpose
When you donate to a charitable trust, you can be confident that your money will be used for the purpose outlined in the trust agreement. This means that you can choose to support a cause that is important to you, such as education or medical research.
Donor Rights
Donors have certain rights when it comes to their donations. For example, donors have the right to know how their donation will be used and they have the right to withdraw their support at any time if they are not satisfied with how the funds are being used.
Charitable trusts are an important way for philanthropists to support causes that are important to them. When you donate to the trust, you can be confident that your money will be used for the purpose outlined in the trust agreement and you may also be eligible for some tax benefits. Before making a donation to charitable trust, make sure that you understand your rights as a donor so that you can be confident that your donation is being used in the way that you intended.
