For legal purposes, please refer to the Inuit Art Foundation (charitable registration #896568417RR0001 in Canada and #980140282 in the US)
Frequently Asked Questions.
Can I designate how my legacy gift will be used?
We encourage you to first consider an unrestricted donation, which gives us the flexibility to utilize funds in the areas of greatest need – and greatest promise. However, if you do decide to designate your gift to a specific area, let us know so we can help with the wording and ensure that your gift goes where you want it to.
How does benefit me and my estate?
When the funds from your legacy gift is transferred to the IAF, a tax receipt for the full amount of your donation will be issued and may offset capital gains or other taxes payable to lessen the financial cost on your estate.
How do I include a gift in my will?
- Speak to your lawyer about drafting or revising your Will by adding a codicil, an essential step to protect your family’s future and to ensure that your assets are distributed according to your wishes.
How should I word my bequest?
- Add the appropriate bequest wording in your Will, which our team can help tailor to your specific area of interest. (For sample wording, see “How should I word my bequest?” below).
- Let us know about your bequest so we can show our appreciation and ensure your intentions are properly understood and honoured.
Specific wording depends on the type of gift and its designation, but here are some examples:
- RESIDUAL BEQUEST - “I give, devise and bequeath to Inuit Art Foundation, 1655 Dupont Street Toronto, ON XX% of my gross estate, to be used in the area of greatest need as the governing body may designate.
- DOLLAR AMOUNT BEQUEST - “I give, devise and bequeath to Inuit Art Foundation, 1655 Dupont Street Toronto, ON the sum of $XXXX , to be used in the area of greatest need as the governing body may designate.
If you would like your gift to be designated for a specific purpose (e.g. KAMA or IAQ) contact us so we can help with the wording to ensure that your gift goes where you want it to.
Is there a minimum amount needed to put the Inuit Art Foundation in my Will?
No. Gifts come in all shapes and sizes, and we are grateful for every dollar. Even 1% of your estate can make a huge difference for our organization.
Should I let the Inuit Art Foundation know that I have left a gift in my Will?
Yes, we want to be able to celebrate you, with you! By letting us know you’ve included us in your Will, we can recognize your gift during your lifetime by capture/sharing your story and ensure we know exactly how you want your legacy gift to be used.
Please contact us at [email protected]
or 647-498-7717 for more details.