Cryptic Rite Charitable Foundation of Ontario Inc.

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CRYPTIC RITE CHARITABLE FOUNDATION   

      Cryptic Rite Charitable Foundation of Ontario, Inc. was established in 1984 by the Grand Council of Royal and Select masters of Ontario. The Royal and Select Masters of Ontario is an organization of Masons dedicated to gaining more knowledge about Freemasonry and to providing assistance to persons afflicted with any form of neurodegenerative diseases. The Foundation seeks Capital Donations and uses all of the investment income and non capital donations to fund research to find a cure for neurodegenerative diseases, such as Alzheimer’s and Parkinson’s. Unlike many Charitable organizations and Foundations, The Cryptic Rite Charitable Foundation is operated completely by volunteers and has NO ADMINISTRATIVE EXPENSE in its operations. Therefore 100% of the gifts we receive are used for the purposes designated. If a Donation is made in memory of a person, a beautiful card is sent to the Family. All donations to the Foundation are tax deductible and receipts are forwarded immediately after being received. Our Income Tax Registration Number is BN 11922 9177 RR0001.

HOW TO MAKE A CAPITAL DONATION 

        The to make a Capital Donation to our Foundation is simple. You can simply write a letter to the Foundation, along with your donation , stating that you wish the donation to be held for a minimum of ten years by the Foundation. or you can use the form that is attached to this information letter. If you are a member of the Royal and Select Masters of Ontario your Council Recorder has donation forms. A receipt will be promptly mailed to the address you have provided with your donation.  ONTARIO Amount of donation $1,000.00 Taxable amount of gain ($ 1,000 minus $ 400 times 25%) 150.00 Federal and Provincial tax(45%) 56.00 Federal and provincial tax savings from donation ( $ 1,000 times 45%) 450.00 Net tax savings $ 394.00

These types of donations can be made during your life or by bequest in a will. They can be Capital or non capital donations.

HOW TO DONATE AN RRSP OR RRIF

        As most owners of an RRSP or RRIF know, when you pass away these funds are fully taxable unless you have a surviving spouse. If there is no surviving spouse, and you donate these funds by will to a charity or Foundation the estate when filing the final tax return for you, will not have any net tax to pay on these funds. The tax on these funds will be fully offset by the tax credit from the donation. Before taking any action based on these suggestions about donations, we strongly urge you to consult your tax advisor before taking any action based on this information. If you have any questions concerning any of these matters, please do not hesitate to contact the Foundation.

HOW TO MAKE A NON CAPITAL DONATION  

        You can make a non capital donation simply by sending your donation to the Foundation at the address at the end of this document. Please be sure to include your return address so that a proper receipt can be mailed back to you.

OTHER DONATION INFORMATION AND PLANNING TIPS 

        Did you know that you can donate stocks, bonds, mutual funds and registered retirement savings plan (RRSP) and registered retirement income funds (RRIF) to a Charity or Foundation and receive a substantial tax savings? If this is of interest to you, please continue reading.

HOW TO DONATE STOCK, BONDS OR MUTUAL FUNDS   

        A Donation of any of the above is considered to be a disposition or sale by the donor for Canadian tax purposes. This means that a donation of property to the Foundation would result in either a capital gain or a capital loss to the donor. The taxable capital gain will be 25% (instead of the regular rate of 50%) of the realized gain. In addition to receiving the lower capital gains inclusion rate a donor receives a charitable donation receipt equal to the fair market value of the capital property donated. The donation receipt can be used to reduce the amount of tax that the donor has to pay. An example might be as follows: If you donate a stock with a fair market value of $ 1,000.00 that has a cost to you of $400.00 you would receive a net tax savings of $ 394.00.

(Assumes other donations of $200 made previously.)

ONTARIO   

        Amount of donation $1,000.00 Taxable amount of gain ($ 1,000 minus $ 400 times 25%) 150.00 Federal and Provincial tax(45%) 56.00 Federal and provincial tax savings from donation ( $ 1,000 times 45%) 450.00 Net tax savings $ 394.00

These types of donations can be made during your life or by bequest in a will. They can be Capital or non capital donations.

  

THOMAS JANES

Secretary Treasurer

130-5700 Blackwell Side Road,
SARNIA, ONTARIO, N7W 1B7
Telephone: 519-542-5584
EMAIL: Email Address
  

Charitable Foundation Donation Form