Frequently Asked Financial Questions
How is Young Life Funded (RockRidge Canyon)?
Young Life (RockRidge Canyon) is almost totally privately funded (we occasionally receive summer worker grants from the Government). Each Young Life community relies on the generous support of people in their area who value kids and want to help make a difference in their lives. Young Life is a not for profit organization recognized as a charity by the Government and able to issue tax receipts for donations. (This includes all gifts to the building of RockRidge Canyon). If you would like to contribute on an automatic pre-authorized monthly withdrawl basis (PAMD) we would be happy to arrange that for you. Please contact your local office or the National Service Centre for the required form. When making a donation please indicate your particular designation (city, staff person, RockRidge Canyon or camper scholarship) so we can be sure to direct your funds appropriately. Young Life of Canada is audited annually and these statements are available upon request from our National Service Centre in Langley, BC.
Can Young Life (RockRidge Canyon) issue US tax receipts?
Absolutely! Simply make the cheque out to Young Life of Canada and mail it to our National Service Centre: Suite 120, 9440 – 202 Street, Langley, BC, V1M 4A6. If a US receipt is required please indicate this. Unless notified differently, all US dollar cheques will be issued a US tax receipt. When making a donation please indicate your particular designation (city, staff person, RockRidge Canyon or camper scholarship) so we can be sure to direct your funds appropriately.
Does Young Life (RockRidge Canyon) Accept VISA, AMEX or MASTERCARD as a form of donation?
Can Young Life (RockRidge Canyon) process gifts of shares or units of public companies & trusts?
Yes. All gifts of stocks to RockRidge Canyon and Young Life of Canada are handled by Richardson GMP Limited in Calgary. Simply contact either Mike Manning firstname.lastname@example.org or Cheryl Cadieux email@example.com or call the National Young Life Service Centre in Langley, BC at 604-881-6023 ext. 0 and request a “Stock Transfer Authorization” form. Complete this simple form and send it to your broker with a copy to Cheryl Cadieux at Richardson GMP and we will handle the gift in an efficient and appropriate manner. You may designate your donation to any internal Young Life account including RockRidge Canyon. Once the stock gift is received in the Young Life account at Richardson GMP you will be issued a tax receipt for the fair market value of the stock as of the date of its arrival.
How are receipts produced and distributed?
All donation receipts are produced by our Accounting Department in Langley, BC. If the donation is made via Pre-Authorized Monthly Donation (PAMD) the donor will automatically be placed on our “annual” receipt program. This means that each donation will be recorded on a monthly basis and detailed on one total receipt which will be mailed to the donor by mid February of the following year. Any donor can request to be placed on our “annual” receipt list which means the donations given throughout the year will be distributed as designated but the receipt will be withheld and accumulated for distribution by the middle of February. Any donor not on the annual receipt program will have their donation receipt produced by the middle of the following month.
Creative giving helps Young Life care for teenagers. A properly thought-out gift strategy can support Young Life, while reducing present taxes and potentially minimizing future taxes on one’s estate. There are a number of ways to take advantage of the many creative methods of charitable gifting allowed by our federal tax system. In the Young Life community, we have a number of trained professionals who can assist in developing a well thought-out estate plan. These professionals are faithful friends who themselves have a history of supporting the Young Life ministry and want to make their skills available to our Young Life community. In doing so Young Life hopes to see its ministry supported not only today but in the years to come through creative planned giving.
Creative options for giving to Young Life
- Young Life in your will.
- Giving a Life Insurance Policy to Young Life and receiving a tax receipt for the full cash surrender value of the policy, or making Young Life the beneficiary of a policy.
- Purchasing a New Life Insurance Policy with Young Life as the beneficiary where you make the donation to Young Life to cover the premium in return for a tax receipt.
- Gifting publicly traded shares such as Trust Units, Mutual Funds or Stock to Young Life and thereby avoiding ANY capital gains while still receiving a tax receipt for the full fair market value of the equity. Young Life then sells the equity at market value with a reduced brokerage fee.
- Creating a Charitable Annuity Trust where the interest flows tax-free to Young Life and may be utilized immediately by the ministry.
By your financial planning, you can minimize your taxes and help us care for kids and thereby impact their lives for a lifetime! Want to know more? Please contact your own financial planner or Mike Manning for more details concerning creative giving options –firstname.lastname@example.org.
What is planned giving?
Simply put, planned giving is developing a creative plan of giving through a variety of means. These options include cash, securities (shares of a company, Trust Units or Mutual funds), wills, property, annuities, insurance and others. Sometimes the gifts are of immediate benefit to Young Life while at other times the benefits are deferred for a number of years. In either case, both the donor and Young Life benefit from this thoughtful arrangement of one’s financial affairs. This method of giving is not complicated but does require planning. Through planned giving, you will help to ensure that the ministry of Young Life will continue for many years to come.
What people are saying:
My wife and I would like to help Young Life now by our present gifts and also ensure the ministry to kids continues after our lifetime. That is why we are putting Young Life in our will.Edmonton, AB
We originally took out this Insurance policy to cover our house mortgage but now that it is paid off, we don’t need the insurance. How wonderful that we can give it to Young Life and get a tax receipt for the cash surrender value! That will help us tremendously at tax time.Toronto, ON
Because of what Young Life meant to me as a student, I want to include Young Life in my financial planning.North Shore, Vancouver, BC
I am thrilled to know that I can now make a donation of appreciated securities to Young Life without incurring any capital gains tax on that donation and still receive a tax receipt for the full present day value of the stockCalgary, AB
Canada & USA
Young Life is a member of the Canadian Council of Christian Charities. All donations are tax deductible. Young Life of Canada is a registered charity in the United States and is therefore able to issue a US tax receipt for our American supporters. This page is designed to provide general information about planned giving. If legal advice or other expert assistance is required, you should seek the services of a competent professional.
We can help you get started
Consider being a part of the growing number of Young Life supporters who are planning their giving in a thoughtful and creative manner. Please call your own financial planner, local Young Life office or Mike Manning – email@example.com.