Leave your mark on Asian Canadian theatre.
By leaving a charitable gift to vAct in your will, you are laying the foundation for an inclusive and equitable theatre experience for all.
A legacy gift is a gift to a charity or non-profit organization made through your will or another form of designation. It can be a piece of property, cash, or a percentage of your estate, gifted to create new opportunities for others.
When you leave a legacy gift to vAct, you help push the boundaries of what’s possible on Vancouver’s stages. That’s because your support ensures that Asian Canadian stories and perspectives can continue to be shared and heard.
Support your favourite charity
Making a difference in the lives of the next generation. Your legacy is a reflection of your values and will provide Asian Canadian theatre artists with opportunities to tell their stories, receive mentorship, and thrive as well-rounded professionals.
Your gift might also cause others to think about their own philanthropic goals and inspire them to give back as well.
It allows you to leave a meaningful gift for the future while retaining current income today for your own needs. Your income today is not affected so you can still ensure your loved ones are taken care of first.
When you leave a legacy gift, your estate receives a tax receipt for the full value of the gift, which adds a tax credit to your final income tax return. This can help to maximize the value of your residual estate for your beneficiaries.
We are happy to work with you and your professional advisor to ensure the donation you choose to leave best suits your needs and wishes.
Please connect with us directly to learn how you can leave a legacy for Asian Canadian theatre in Vancouver:
1. Include a legacy gift in your will
Leaving a bequest in your will is the simplest way to make a legacy gift offering several benefits. A gift in your will has no effect on your current income and you can receive a charitable tax receipt for your estate.
Bequests can be given in two ways:
a. You can leave a lump-sum cash amount to vAct. This gift is given separately when you pass away, and is not included in your residual estate (everything that’s left after debts/taxes are paid and specific gifts are distributed).
Bequest wording example:
“To pay the sum of $______ to Vancouver Asian Canadian Theatre (vAct) to be applied by vAct’s Board of Directors at its discretion, for the general purposes of vAct.”
b. You may leave a percentage of your residual (remaining) estate to vAct. vAct will receive the cash value of the distribution you gave us from your overall estate. While a cash charitable gift will remain constant over time, a percentage of your residual estate can grow over time, resulting in a higher potential gift to vAct.
Bequest wording example:
“To pay ____% of the residue of my estate to Vancouver Asian Canadian Theatre (vAct) to be applied by vAct’s Board of Directors at its discretion, for the general purposes of vAct.”
2. Name vAct as a beneficiary of your RRSP, RRIF, Pension or TFSA
Donate the proceeds of a registered account such as a tax-free savings account (TFSA), a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF) to reduce taxes on your estate.
3. Gift your life insurance policy to vAct
Life insurance is one way you can provide financial security for your family. What you may not know is that once the needs of your family are taken care of, a life insurance policy can be donated to vAct. Donating a life insurance policy can also provide tax savings.
4. Gift of securities
Selling securities from a highly appreciated portfolio could subject you to significant capital gains tax, but when you donate publicly traded stocks, mutual funds, segregated funds or bonds directly to a registered charity like vAct, you benefit from the donation tax credit and the complete elimination of the capital gains tax.
Leaving a legacy gift is easy. Here are a few ways you can get started:
- Talk about your options with us. Please let us know if you would like to receive additional information. We’d be happy to work with you, your family, and your advisors on a confidential basis to ensure you meet your goals.
- Learn about your options on your own time.
- Ask your professional advisor for guidance. If you’re all ready to meet with your lawyer or notary, we recommend you bring our address and legal name with you.
Legal name and address:
Vancouver Asian Canadian Theatre
1885 Venables St
Vancouver, BC V5L 2H6
Charitable registration number:
87301 1811 RR0001
Who can leave a gift in their will?
Leaving a gift in your will is for anyone who cares deeply about a cause. If you are passionate about Asian Canadian representation, building community, and fostering the development of Asian Canadian artists, you can leave a gift for vAct in your will.
Why should I give to vAct?
At vAct, we cultivate stories from Asian Canadian perspectives to foster community. Thanks to donations, we have been able to consistently premiere new works by Asian Canadians. We are one of only two professional companies in Western Canada whose mandate focuses on Asian Canadian theatre artists.
What other types of gifts can I leave in my will?
By donating assets other than cash, you can easily save capital gains and estate taxes and can make a bigger impact than you ever thought possible. Examples of other types of gifts you can leave are stocks and securities, life insurance, RRSPs or RRIFs, and more.
Already included us in your will?
Thank you! We are so honoured that you’ve included vAct in your will. Please let Karen Tsui, our Development Coordinator, know at firstname.lastname@example.org so that we can thank you personally and keep you up to date on programming and impact areas that interest you.
Can I leave a gift to a specific area of impact/programming?
Yes! Please contact Karen Tsui at email@example.com. She will provide the correct wording to direct your legacy gift to your preferred area of impact or programming.
Will I receive a tax receipt?
Yes. If you leave a gift in your will, at the time of your passing, your estate will receive a tax receipt and can claim a charitable tax credit for the full amount of your gift, up to 100% of your net income in that year. Any excess tax credit can be carried back to the previous year.
We’re here to help. If you have any questions, please contact us by email at firstname.lastname@example.org.
Legal name: Vancouver Asian Canadian Theatre
Address: 1885 Venables St, Vancouver, BC V5L 2H6
Charitable registration number: 87301 1811 RR0001