Ideas for Giving
Master Moy taught us that when you give of yourself, by volunteering or by donating, you are building the health of your own spirit and of your community. This generosity underlies our tradition of compassionate service. Giving is easy and we receive so much when we do!
There are many ways to give, both during your life and as a legacy.
Leaving a Legacy
As part of your estate planning you may choose from a number of legacy options, many of which will provide tax savings.
A Gift through Your Will
Anyone can make a bequest! Your desire to support the Taoist Tai Chi® path into the future is what matters, not the amount. There are several ways to leave a gift through your will:
- You may leave the Fung Loy Kok Institute of Taoism (FLK) a specific dollar amount, a percentage of your estate, or the residue of the estate left after you have provided for those close to you.
- You may name FLK a contingent beneficiary in your will. FLK will receive money only if the other beneficiaries in your will die before you.
- You may create a trust through your will that allows your beneficiaries to receive income from the trust for a fixed term or for life, after which a portion or all of the remaining capital can be passed to FLK.
- You may direct that specific investment accounts or securities be donated to FLK in which case your estate will receive tax benefits.
Naming FLK as the beneficiary of your life insurance policy means that the payout will go to FLK on your passing. You can also transfer an existing policy to FLK and receive a tax receipt for the cash value of the policy. In addition, you will receive donation tax receipts for any premiums you continue to pay on the policy.
Naming FLK as a beneficiary of a retirement plan such as an RRSP or a RRIF is an easy way to make a gift without losing any income during your lifetime. This may also eliminate income taxes and probate fees owed by your estate on the assets in your plan or plans.
Information You Will Need
If you would like to leave a legacy your lawyer will need our legal name and address. For those participants who have already generously included us in their planned giving, we suggest you review your documents to ensure that they reflect the correct name:
Fung Loy Kok Institute of Taoism
134 D’Arcy Street
Toronto, Ontario M5T 1K3
The Fung Loy Kok Institute of Taoism encourages you to consult with your professional advisors when you are considering planned giving.
Other Giving Options
Many companies offer to match the charitable gifts that their employees make. Check if your or your spouse’s employer has a matching gift program. Double or even triple your gift!
Gifts of Securities
Donating qualifying investments or securities to FLK can eliminate Canadian federal and provincial income tax on capital gains as well as provide a donation tax receipt for the value of the securities. Contact our head office if you would like to make arrangements.
Donor Advised Funds
A Donor Advised Fund (DAF) is a giving program that allows you to combine tax benefits with the flexibility to easily support your favourite charities. FLK can be designated as one of the charities supported this way. Speak with your investment professional to learn more.
Gifts in Memoriam
Make a gift in memoriam for someone who has passed away.
Gifts in Celebration
Make a gift to celebrate a meaningful special occasion. Our 50th Anniversary might inspire you!
You could also let your friends and family know that you would like them to donate on your behalf rather than give you gifts. Please direct them to the Donation page of this website.
Gifts in Honour
Make a gift to honour someone.
Thank you for contributing to the Fung Loy Kok Institute of Taoism. Your gift will ensure that we can continue in our work of helping individuals and communities transform themselves through the teachings of Taoism for generations to come.
“For me it has been a privilege and yet humbling to give. My giving has come in many forms; time and knowledge as well as financial . All these forms are from the heart and are a way to appreciate what I have received and to ensure that Taoist Tai Chi® arts are available for future generations.”