Legacy for Life Update

Created in 1995, the Legacy for Life Committee is one of the Club's newer committees. It was originally known as the Charitable Gift Planning Committee and was started in response to expressed interest by several members who were interested in making a bequest in their wills to the Kiwanis Club of Ottawa (KCO). In this way, they would be assured that a defined portion of their estate would continue to serve the purposes of Kiwanis long after they were gone.

Vision Statement

The purpose of the Legacy for Life Committee is to develop a philanthropic culture whereby individual members of the Club and the community may choose to con-tribute a planned legacy/gift to the KCO - during their lifetime and/or as part of their estate. Over time, it is hoped that the KCO will become the preferred choice for a charitable legacy gift. Club Interest The member survey conducted in 1999 indicated that 52% of the membership would consider directing part of their estate or purchasing a life insurance policy for the benefit of the KCO. Research shows that 34% of Canadians respond similarly when asked. One of the priorities of the Committee is to ensure those members who have an interest in planned giving to the Club understand the variety of ways this can be done and the benefits - including the tax savings available either immediately or to the estate. Legacy for Life Cards One means of increasing the value of the fund is the use of Legacy for Life cards through the Kiwanis office. You can acknowledge a birthday, promotion, anniversary, or perhaps the noteworthy actions of a Kiwanian or citizen by having a Legacy for Life Card sent to that person by a thoughtful Kiwanian. The card will indicate that a donation has been made to the Legacy for Life Fund for the specific reason defined by the donor. A tax receipt is provided for donations of $10 or more. This is a wonderful and painless way of letting someone know you are thinking about them.

Status - Legacy for Life Fund As of the end of the 99/2000 Kiwanis year, the fund had grown to $264,000. This is comprised of cash donations (bequests, Legacy for Life Cards, interest on capital); declared will codicils; and life insurance policies as-signed. In addition, a number of additional members have made anonymous provisions in their wills. To date, therefore, the fund has notionally reached an estimated level of more than $300,000 and we are well on our way to a 10 year target of a $1 million minimum. NEW! NEW! NEW! In October of this year, the Board of Directors authorized the Committee to introduce the use of funds bearing the donor's name, a family's name, or any other name specified by the donor. In this way, an individual can ensure his or her gift will be directed to further the specific Kiwanis activities defined by the donor (e.g. young children or seniors). What can you do now? Ensure you have an up-to-date will. You owe this to your family. There is only 1 month left in this year to minimize your 2000 tax liability.

Consider Legacy for Life among your options. Questions? Call.... John O'Neil, Chair, Legacy for Life Committee