What is the Crusaders Rugby Club Charitable Fund?
An opportunity to “Pay it Forward”
The Crusaders Rugby Club Charitable Fund provides a way for the Crusader community to contribute to the long term development of our players, coaches and facilities thereby investing in the community.
The goal of the Fund is provide funds to be used for player and coach development as well as expanding the rugby facilities to support our current and future programs.
The Crusaders Rugby Club Charitable Fund is professionally managed by the Canadian Rugby Foundation, who are dedicated to supporting the development of rugby in Canada. Although affiliated with Rugby Canada, the Foundation is an “arms-length” organization which focuses on the “off-field” aspects of rugby development. Their impressive accomplishments can be appreciated by a visit to their website.
Gifts may be donated from corporations, foundations, and private donors.
No donation is too small, or too large! Invest in the Crusaders’ future!
With strong on field performances and equally strong off field management the Crusaders Rugby Club are set to lead the sport of Rugby in Ontario forward in the years to come. Rugby is a game that teaches camaraderie, respect, courage and discipline.
We are committed to assisting all players and coaches to develop both their rugby skills to the highest degree and their love of the game of rugby.
The Crusaders Rugby Club Charitable Fund provides a vehicle for our friends and supporters to assist us in achieving this goal.
Crusaders Rugby Club will appoint 2 named “Foundation Representatives”. The Foundation Representatives will be responsible for liaising with the Canadian Rugby Foundation and encouraging donations to the fund from all avenues available as well as distributing funds to the club.
The Crusaders Rugby Club Charitable Fund is comprised of two components, the Crusaders Endowment Fund and the Crusaders Capital Projects Fund. 50% of each and every donation will be allocated to these two components.
Donors to the fund will receive a tax receipt for the full value of their donation.
The Crusaders Endowment Fund
The Crusaders Endowment Fund will accumulate permanent capital. This capital will generate interest that will be paid to the club each year for the expenses outlined below. The Crusaders Rugby Club Foundation Representatives require that all payments be approved prior to the expense being incurred by the recipient. All approvals will be at the discretion of the Foundation Representatives and a Crusaders Endowment Fund “Request for Funds” application must be completed by the recipient.
Annual guidelines for amounts and eligibility for receiving these funds will be published each January/February when it is known how much is available to be paid from the Crusaders Endowment Fund. The Foundation Representatives will be responsible for formulating and publishing these guidelines each year.
- Club coach development and/or compensation
- Club member/player/coach financial support for programs outside of the regular Club program.
- Expenses associated with external coaching and/or player development programs paid for by the Club.
This fund is not to be used for regular operating expenses of the Club.
The Crusaders Capital Projects Fund
The Crusaders Capital Fund will accumulate capital that can be drawn upon to fund Crusaders Rugby Club Executive Committee approved capital projects for the improvement of, and expansion to, the Crusader Rugby Club facilities.This fund is not to be accessed for repairs and maintenance.
Over the past 15 years the Club membership and rugby programs have grown significantly. In order to accommodate our growth a number of projects are planned for the next few years. These include:
- Refurbishment of the fields, starting with the main field. This includes regrading, installation of irrigation and drainage, and a new grass surface.
- Field lighting for the main field. This will allow for games to be played safely in the evenings.
- A fourth field
- Clubhouse expansion (subject to lease extension)
For nearly 50 years the club has operated on a “hand-to-mouth” basis. Over the years we have expanded our facilities by fundraising for specific projects.
In prior years the Club was involved in fundraising (who can forget Bingo!), however in recent years we have got out of the way of fundraising for “the Club” in general.
The Club currently operates on a break-even basis with revenues and expenses closely matched on an annual basis. This limits our ability to accumulate funds to support the growing demands for player development and coach education.
The Crusaders Rugby Club Charitable Fund will allow us to ensure that playing rugby is affordable while at the same time raising funds to support the advancement of our players and coaches and the expansion of our Club Facilities.
The Canadian Rugby Foundation offers us professional fund management, charitable status (for our funds) and operational support for donations, while at the same time allowing the Club “Foundation Representatives” to control the disbursements from the fund.
There are many ways to donate to the Crusaders Rugby Club Charitable Fund.
Gifts of Cash, Cheque or Money Order
Donors may give any amount to the Canadian Rugby Foundation. Donations made of cash, cheque or money order provide the quickest benefit to the Foundation. These donations can be a one-time amount, spread out over a few years, or an annual donation.
The easiest way to make a continual gift is by signing up for our monthly automatic withdrawal plan (below). It costs nothing to use and is ideal for those who wish to make smaller, monthly, contributions of $25 per month or more. It is easy to set up and use, and requires nothing from the donor past the initial set-up forms.
Donations of $25,000.00 or more entitle the donor to become a voting member of the Foundation. These donations can be pledged over three years and can be donated by groups however, only one person can vote for the group as a member of the Foundation.
Gifts may be donated from corporations, foundations, and private donors.
Tax receipts for this form of donation will be written at the end of the calendar year for the total amount donated. The receipt will permit donors to obtain a tax credit to a limit of 75% of their net income. Donations that exceed the 75% threshold can be carried over and used anytime in the next five years. Donation receipts can also be saved for up to five years and can then be used all at once. Receipts will be issued for the face value of the donation. Corporate donors will obtain a tax deduction.
Please download the Canadian Rugby Foundation information form to ensure that the information of tax purposes is correctly recorded.
Cheques, cash or money order may be given (with the information form) to any Board Member
An easy and effective way to contribute to the fund of your choice through the Canadian Rugby Foundation is by signing up for our automatic withdrawal service (also known as PAP/D, or pre-authorized payment/donation). It allows you, the donor, to donate funds directly from your bank account on a monthly basis. Donors can make contributions from any financial institution across Canada from a savings, chequing or even a business account. The donation amount is withdrawn from the donor’s account on the 16th of every month (should the 16th fall on a weekend or business holiday, it will be removed the next business day).
Automatic withdrawal services can be used to make donations of any amount of $25 a month or greater. Once the forms are filled out and submitted to the Canadian Rugby Foundation, along with a void cheque, the donor never needs to do anything again.
Tax receipts are issued at the end of each calendar year for the total of contributions made. If at any time the donor wishes to change the amount being donated, or even stop making donations through this method, he or she should please contact the Foundation directly. Written notice by mail or e-mail is required a minimum of two weeks before the withdrawal date.
Making a contribution to the Canadian Rugby Foundation by credit/debit card is very easy to do. We have partnered with an organization called CanadaHelps.org which was set up to specifically help smaller organizations like the Canadian Rugby Foundation.
CanadaHelps.org is a not-for-profit charity portal and a registered public foundation that seeks to promote and facilitate philanthropy through online giving. CanadaHelps.org offers its services at no cost to the charity or donor (except for the terminal fees associated with credit/debit card transactions which are 3%). This is a significant help to the Canadian Rugby Foundation as it reduces our administration costs through automated processing and paperless communication. With the lower merchant rates and transaction fees, the savings are passed onto us at the Foundation.
Donating through CanadaHelps.org is easy. Simply click on this link www.canadahelps.org and select “Crusaders Rugby Club Charitable Fund” in the section “Donate to this Charity”.All information entered is strictly confidential and securely protected, and donor information is only provided to the charity to which the donation has been made.
Donations made through the CanadaHelps.org website are treated in the same way as regular receipt able charitable donations. The Canada Revenue Agency has approved the use of electronic tax receipts. Usually within minutes of successfully completing a donation, the donor receives an e-mail notification confirming the transaction. Because CanadaHelps.org is a registered public foundation, donors are e-receipted for a donation to CanadaHelps.org. The donation is processed very quickly and the funds are directed to the Canadian Rugby Foundation bank account. Donors are also provided with a few donation options including one time or monthly contributions.
Gifts of Appreciated Securities
There are significant tax savings for taxpayers who donate publicly listed securities. In the 2006 Federal Budget the taxable gain on gifted securities was removed completely. A receipt is given for the market value of the securities transferred (market value on date of transfer) to the Foundation.
Qualified Appreciating Securities
- Shares, bonds, warrants, and options listed on a prescribed stock exchange.
- Mutual fund shares/units and segregated fund units; (insurance).
- Prescribed debt obligations (such as certain government bonds).
The actual securities must be transferred to the Canadian Rugby Foundation. It is very important to note that the gift will not qualify for this favourable treatment if the securities are sold and the proceeds are then gifted to the Foundation.
Gifts of Life Insurance
Giving a life insurance policy is another way to maximize your contribution to the Canadian Rugby Foundation. It enables you to make a significant, lasting gift to rugby in Canada with minimal spending of current savings or income. A gift of life insurance is a type of deferred gift. This means the proceeds from a gift commitment made now will be realized by rugby in Canada sometime in the future. Donors often struggle between their desires to achieve philanthropic goals and their need to maintain their estates for their families. Giving a gift of life insurance can eliminate this conflict.
Advantages of Life Insurance
Giving a gift of life insurance allows you to make a larger donation to the Canadian Rugby Foundation than you would have thought you could afford. It has a relatively low cost and does not reduce the value of your estate for your heirs. Life insurance proceeds are paid directly to the Canadian Rugby Foundation and are not subject to probate and other estate fees. In addition, these policies can provide an annual tax credit or a tax credit in the year of death.
How you would like to structure your gift will depend on where you have the greatest need for tax relief. For example:
- You can opt to retain ownership of the life insurance policy and therefore the flexibility to change the beneficiary over time as your circumstances may require. If you choose this option, your estate will then receive the tax credit when the gift is realized.
- When the Canadian Rugby Foundation is both the owner and the beneficiary of a policy, the donor receives immediate tax savings through the deductibility of the premiums. In these instances, the gift is “irrevocable”, meaning it cannot be changed.
- Purchasing a New Policy.
When naming the Canadian Rugby Foundation as the “irrevocable” owner and beneficiary, you will receive an income tax receipt yearly for the full amount of the premiums paid. With increasing longevity, older persons can now purchase insurance at more affordable rates than have been possible in the past. Retired individuals who have some annual flexible income can support the Canadian Rugby Foundation without depleting their financial reserves or reducing the projected inheritances for family members. Further, greater leverage is possible when two donors, usually wife and husband, purchase a joint policy. These policies are available even when one spouse is not insurable. These are generally more economical than a policy only on the insurable spouse.
- Donating an existing policy.
By donating an existing policy that you no longer require, and name the Canadian Rugby Foundation as the “irrevocable” owner and beneficiary, you will receive a tax receipt for the net cash surrender value (less any outstanding policy loans) and any subsequent premiums paid. This policy can be sort of a hidden asset which is available to be used now for your philanthropic purposes.
Making the Canadian Rugby Foundation the beneficiary of a new or existing policy.
As was amended in the 2000 Federal Budget, a charitable donation tax credit will be available when a donor designates that the death benefit proceeds of his/her policy are paid directly to a charity. Therefore the estate will then receive a tax credit for the proceeds of the policy which can be applied to up to 100% of your net income for the year of death and the year prior. This tax credit is received when the gift is realized.
- Donating your life insurance policies from your employer or former employer to the Canadian Rugby Foundation.
You will not be able to change the ownership of this policy so you would make the Canadian Rugby Foundation the beneficiary of it. Similar to that described above, a donations tax credit will then be available when the death benefit proceeds from this policy are paid to the Canadian Rugby Foundation.
Life insurance proceeds are not subject to probate and they don’t reduce the value of other assets of an estate. The policy beneficiary designation is irrevocable so the donor’s intent is assured. This allows donors to make an extraordinary gift the Canadian Rugby Foundation at an extremely manageable cost.
Gifts of other Property or Residual Interest
Making gifts of property (other than cash) often involves some additional costs due to the need of obtaining necessary appraisals, legal and tax advice, as well as other expenses related to the transfer. We ask that donors discuss their proposed gifts with the staff of the Canadian Rugby Foundation before these costs are incurred. Please contact us for further details.
Gifts of Retirement Benefits
Naming the Canadian Rugby Foundation as a beneficiary of your registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) is another simple option.
It is quite easy to designate the Canadian Rugby Foundation as the beneficiary of ones RRSP or RRIF. It can be done at ones financial institution by requesting a name change on the beneficiary of the plan. It is as simple as changing the name on some forms and no trip to visit your lawyer is necessary though consulting ones lawyer is wise when making estate changes. For more information on giving gifts of retirement benefits, please contact us for further details.
Gifts Made Through Trusts
A Charitable Remainder Trust is a legal agreement that allows you to make an irrevocable gift to the Canadian Rugby Foundation now and continue to benefit from it throughout your lifetime. Further details are available on request.
Please do not hesitate to contact us with any further questions.
The Canadian Rugby Foundation is a Canadian Not-for-Profit Corporation incorporated under the Canada Corporations Act, registered with the Canada Revenue Agency as a public foundation. The Canadian Rugby Foundation is required by law to distribute a percentage of its assets annually.
The vision of the Foundation is evident in the Mission Statement, but it goes much deeper than just that. The Foundation has not only established an Unrestricted Fund which will assist, by providing grants, in the development of rugby across the country, but it has also developed the concept of creating funds across Canada to aid specific projects and areas such as clubs, schools, universities, regions and even scholarships.
By doing this, rugby will grow at all levels and in the end these funds will aid in the growth of the game at the grass-roots level in all major centres from Coast to Coast.
This idea would see things such as expanded mini-rugby programs and other major activities across the country to help develop the game at the grass-roots level and create more public awareness.
The Canadian Rugby Foundation takes pride in its success in keeping administrative expenses low. All directors are volunteers and we have no salaried employees. Our goal is to keep administrative expenses at approximately 1 percent of assets to ensure a healthy return to our donors.
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