Gifts by Americans to Carleton University
Under the Canada-United States Income Tax Convention, a citizen or resident of the United States is entitled to a charitable deduction for gifts to a Canadian university, provided he or she or a family member is or was enrolled. (Family member includes, spouse, children, grandchildren, parents and siblings.) If you are an alum or a family member then you can plan your donation directly to Carleton University. If these conditions do not apply to you, or you are currently planning a gift of assets from IRA’s or the full spectrum of Charitable Trusts, those gifts should be made to our affiliated U.S. foundation:
Carleton University Foundation (U.S.). The foundation is a 501(c)(3) tax-exempt public charity recognized under the U.S. Internal Revenue Code. Carleton University Foundation (U.S.) Tax Exempt ID number is 52-1970455.
Cheques made to Carleton University Foundation (U.S.) should be mailed to:
1455 Pennsylvania Avenue NW, Suite 400
Washington, DC 20004
A Gift by Will
A gift by will is a meaningful way to support Carleton. Known as a charitable bequest, a gift in your will is a simple, flexible, and versatile way to ensure the types of programs and experiences that positively impacted you will continue for years to come.
The Most Common Types of Bequests
- Residual Bequest: Carleton University receives a portion of the remainder of your estate after other specific legacies have been fulfilled.
- Specific Bequest: Carleton University receives a specific dollar amount or stated fraction of your estate or a specified gift of property (collections, art, books, real estate, etc.)
- Contingent Bequest: Carleton University would receive a stated share of your estate, but only in the event of the prior death of other named beneficiaries.
You may request our helpful resource brochure with sample language for a will here, A Gift By Will American Edition.
Please discuss with a gift planner in advance to ensure your plan can be carried out.
Please contact us if you’ve already named Carleton University in your estate plan. We would like to say thank you personally for your generosity and commitment and welcome you our community of Legacy Donors, a special group of supporters like you.
Tax-Free Distributions to Charity from IRAs Now Available
For those who are 70 ½ or older, any amount up to $100,000 may be distributed tax-free from your Individual Retirement Account (IRA) to the Carleton University Foundation (U.S.). This amount can count toward your required minimum distribution for the year in which the distribution is made. Although these distributions are not deductible as charitable contributions on your income tax return, they affect your taxes because they are not treated as taxable income to you.
Continue Supporting Carleton After Your Lifetime
If you are passionate about supporting Carleton, a beneficiary designation is an easy, impactful gift for you to consider. You simply contact your retirement or life insurance plan administrator and request a beneficiary designation form. Then, name Carleton University as a beneficiary to receive retirement assets or life insurance proceeds after your lifetime. The form provided to you is entirely separate from your will.
Not only is it an easy way to give, but it is also flexible—you are not locked into the choices you make today. You can review and adjust beneficiary designations at any time.
Frequently asked Questions
Find answers to frequently asked questions from Carleton donors who reside in the United States of America below:
Can a U.S. resident donor give directly to Carleton University?
In most cases, the answer is yes. Under the Canada-United States Income Tax Convention, a citizen or resident of the United States is entitled to a charitable deduction for gifts to a Canadian university, provided they or a family member is or was enrolled. (Family member includes spouse, children, grandchildren, parents, and siblings.) If you are an alum or a family member, you can plan your donation directly to Carleton University. If these conditions do not apply to you, or you are currently planning a gift of assets from IRA’s or the full spectrum of Charitable Trusts, those gifts should be made to our affiliated U.S. foundation.
What is ‘Carleton University Foundation (U.S.)’?
Carleton University Foundation (U.S.) [Employer ID 52-1970455] is an American public charity supporting post-secondary education. It was established in Washington DC in 1996 to facilitate charitable donations from our U.S. based alumni, U.S. Corporations, and U.S. foundations. The organization is exempt from Federal income tax under section 501(c)(3) of the Internal Revenue Code and is an organization as described in section 509(a)(2) of the Code. Donors may deduct contributions as provided in section 170 of the Code; bequests, legacies, devises, transfers and other gifts for our use are deductible for federal estate and gift tax purposes under sections 2055, 2106 and 2522 of the Code.
What types of gifts should be made to the Carleton University Foundation (U.S.)?
All corporate donations, corporate matching gifts, donations of stocks, mutual funds, bonds and other similar instruments, charitable gifts of and from retirement plans (IRAs, 401(k), Keogh, Roth IRAs, TIAA/CREF, etc.) should be made through Carleton University Foundation (U.S.) Donations of stocks, mutual funds, bonds, and other similar instruments also are accorded similar tax treatment. Still, they can be made either to the Carleton University Foundation (U.S.) or to Carleton University directly for alumni and family members.
Can my employer match my gift to Carleton University through their matching charitable gifts program?
Many U.S. corporations will match donations made by employees and directors, but American corporations cannot deduct donations made to foreign charities. This is one of the reasons why the Carleton University Foundation (U.S.) was established. In cases where a gift is to be matched by an individual’s employer, even if the individual is a Carleton alumnus, both gifts must be directed to the Carleton University Foundation (U.S.). The match must follow the gift, and because a U.S. corporation must make their donations to the Carleton University Foundation (U.S.) for a qualifying deduction, the initial gift must be directed there as well.
What are the tax benefits of donating securities?
Donations of marketable securities result in reduced income taxes, reduced estate taxes, and avoidance of capital gains taxes as long as the securities have been held for more than a year. Marketable securities include common and preferred stock, corporate bonds, municipal bonds, mutual funds, and government securities. People who give appreciated securities get a double tax benefit. You save income taxes as you would with a gift of cash but “save” again by avoiding the capital gains tax you would have owed if you had sold the property. In effect, your deduction is based on untaxed profit.
Please contact the Personal and Planned Giving Team at firstname.lastname@example.org or 613-520-3636 if you have any questions.