NORTH ISLAND COLLEGE WWW.NIC.BC.CA

Will & Trust Donations

Have you thought about what your legacy will be? If you believe strongly that access to post-secondary education is vital for the well-being of individuals, families and our communities, consider leaving a gift to the North Island College Foundation in your will or living trust.

Your Bequest

A gift in your will is commonly known as a bequest. It may be large or small, restricted or unrestricted. It can include cash, securities, real estate, other property, or a percentage of the residue of your estate. With bequests of $12,500 or more, you may create a named endowed fund in memory of a loved one, through our scholarships and bursaries program which will last forever.

A gift in your will is easy to prepare with professional assistance. And should the needs of your family change before your passing, you can change or update your will at any time in life.

Benefits to You

  • You keep full control over your assets in life; a bequest has no impact on your lifestyle today.
  • Making a bequest can reduce the taxes owed by your estate, leaving more funds for the people you love. Your estate receives a donation receipt for the value of the bequest at the time of your passing. This can substantially reduce or even eliminate the taxes owing on your final tax return.
  • You can ensure that your gift to the NIC Foundation is distributed according to your wishes. This might include supporting students, learning resources, campus spaces or any program area you feel passionate about.
  • With your contribution, you'll know you are creating a better society and benefiting generations to come, at the same time as providing for your loved ones.

Please Let Us Know

If you have decided to leave a gift to the NIC Foundation in your will, please let us know so that we can ensure we are clear about your intentions and your vision for the gift. We would also like to thank you and recognize you for your generosity and commitment to students and education.

Charitable Gift Clauses for Your Will or Trust

To remember North Island College in your will, simply let your lawyer or notary know that you want to leave something to the NIC Foundation. There are a variety of clauses that may describe the type of gift you are planning for students and education at NIC:

  • Residual Bequest – allows you to make a gift after providing for your family and loved ones.

    Sample wording: "I give to the North Island College Foundation, currently of 2300 Ryan Road, Courtenay, British Columbia, Charitable Registration # 890505043RR0001, (the residue of my estate) or (___ % percent of the residue of my estate) to be used in such a manner as the North Island College Foundation shall, in its sole discretion, determine."

  • Specific Bequest – allows you to direct a specific amount of money or a named percentage or portion of your estate to the NIC Foundation.

    Sample Wording: "I give to the North Island College Foundation, currently of 2300 Ryan Road, Courtenay, British Columbia, Charitable Registration # 890505043RR0001, (_________ dollars) or (___ % percent of the residue of my estate) to be used in such a manner as the North Island College Foundation shall, in its sole discretion, determine."

  • Contingent Bequest – allows you to identify the North Island College Foundation as a beneficiary of your estate or a portion of your estate, only if your primary beneficiary or beneficiaries predecease you.

    Sample Wording: "In the event that ______________ does not survive me, I give to the North Island College Foundation, currently of 2300 Ryan Road, Courtenay, British Columbia, Charitable Registration # 890505043RR0001, (________ dollars) or (___ % percent of the residue of my estate) to be used in such a manner as the North Island College Foundation shall, in its sole discretion, determine."

You may designate your gift to a specific campus or program area. Please contact a NIC Foundation Development Officer in confidence to discuss your wishes.

Our Legal Name

If you are preparing a will, please use our legal name as follows:

North Island College Foundation – Courtenay, B.C., a registered Canadian Charity with Business Registration # 89050 5043 RR 0001

If you are administering an estate that names North Island College Foundation as a beneficiary, please provide us with your contact information (name, address, phone number, and email). We would like to express our appreciation for the gift and inquire how and to whom it should be acknowledged.

Thank You

Thank you for your gift today and for supporting generations to come.

Calculate the impact of your gift or contact us to learn more.

Our website information is intended as a general overview only and not as legal or tax advice.
Please consult with a qualified professional advisor to determine the best strategy for your situation.

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