Legacy giving | Mount Allison

Legacy gifts are the ultimate expression of appreciation and dedication.

Giving back to Mount Allison through your estate shows your confidence in the University — not just today, but over the long term — and we are conscious of the honour and trust bestowed upon Mount Allison when included in your estate plan.

Legacy giving also provides you with an opportunity to have a transformative impact on the lives of students and to be intentional in providing support to areas that mean the most to you.

You can choose to direct your gift to projects that reflect your intentions and values, including areas such as student scholarships, student wellness, athletics and recreation, academic departments, and facilities.

Legacy gift options

There are several gift options to consider:

  • An unrestricted endowed gift carries the flexibility to meet the needs and challenges of an unpredictable future and reinforce the financial stability of the University.
     
  • Gifts can be designated or tailored to suit your philan­thropic interests and preferences, such as scholarships, bursaries, academic departments, the library, or athletics. Such restricted endowed gifts will be used to support a specific designation of your choosing in perpetuity.
     
  • Legacy gifts can also be designated to meet the immedi­ate needs of the University at the time of realization. This can provide much needed support for an emerging project, priority, or initiative.
Types of legacy gifts

Bequests

A charitable gift from your estate is the simplest planned gift to implement. Contact your financial planner or the Development Office to learn more about the different types of bequests.

A bequest may be right for you if:

  • You would like to make a gift to Mount A you could not otherwise make
  • You want the flexibility to change your mind
  • You want continued access to your wealth, should you need it
  • You want to avoid unnecessary taxes on your estate

Life insurance

Donating life insurance to Mount Allison transforms affordable premium payments into a substantial future donation. You can:

  • Name Mount A as the beneficiary on your policy and the pay­ments are considered a donation in the year of death, qualifying for a tax credit that can offset the income tax liability on your estate.
  • Name Mount A as the owner of an existing or new life insurance policy and you receive an official tax receipt for any cash value present at the time the donation is made on a paid-up policy. This provides an immediate tax benefit while you are living.

A life insurance policy may be right for you if:

  • You are eligible for low premiums
  • You prefer to pay monthly premiums resulting in a large gift several years from now
  • You already own a policy and can make Mount A a beneficiary and have other estate plans to support your family

Gift of stock

Your gift can be in the form of shares, bonds, or mutual funds. The elimination of the capital gains tax on a gift of securities may create a considerable tax advantage to you, depending on your financial situation.

A gift of stock may be right for you if:

  • You would like to avoid unnecessary taxes on capital gains and you plan to make a gift to Mount A
  • You foresee a tax problem in your year of death
  • You would like to make a difference now

Trusts and annuities

Gift annuities and trusts provide fixed payments for life in exchange for a gift of cash or securities now. They are easy for a financial planner, lawyer, or accountant to set up and the payments you receive are backed by Mount Allison.

A charitable gift annuity may be right for you if:     

  • You want to maintain or increase your cash flow
  • You want the security of fixed, dependable payments for life
  • You want to save income taxes or capital gains taxes
  • You would like income that may be partially tax free
  • You are considering a gift amount of $50,000 or more
  • You are at least 60 years of age

Apart from sound financial planning, estate gifts also provide personal tax incentives to help meet your philanthropic goals.

Consulting your financial advisor is essential to any sound planning, ensuring your philanthropic goals are met and reflect your personal needs and long-term aspirations.

Sharing details of your legacy intention with the University ensures the future use of your gift reflects your interests and preferences.

Considering a legacy gift? Contact Mount Allison's Development Office at (506) 364-2259 or email donate@mta.ca. Our development officers will assist you as you consider your legacy and the impact you want to see bestowed on future generations.


The Mount Allison Legacy Society

The Mount Allison Legacy Society provides a platform to recognize and celebrate the visionary philanthropy displayed by friends and alumni who have confirmed that the University is part of their estate plan.

When you notify the University that you have included Mount Allison in your estate, you will receive a small gift, invitations to select donor gatherings, and an annual donor report publication.   

Consider joining the Legacy Society and continue Mount Allison's long and storied history of philanthropy.

Contact Mount Allison's Development Office at (506) 364-2259 or email donate@mta.ca for more information.

The Mount Allison Spoons by Tom Forrestall ('58, LLD '87), painted in the R.P. Bell Library from March 19-21, 2019 in support of the Natalie Forrestall Bursary Fund for Fine Arts students.

A history of legacy giving at Mount Allison

Mount Allison is a university built on philanthropy.

Acts of philanthropy are woven throughout the University's history, so much so that Mount Allison's story does not begin with its founding in 1839 when Sackville resident Charles Frederick Allison proposed a school be built — and donated money and land to sup­port the endeavour.

Instead, it began 70 years earlier in Ireland with his grandfather and a set of silver spoons that, in a roundabout way, brought the Allison family to Canada.

A family's legacy — the history of the silver spoons

A glass case in Mount Allison's Ralph Pickard Bell Library holds the five iconic silver spoons — a symbol of the visionary philanthropy that has supported the University since its founding.

The spoons belonged to Joseph Allison, grandfather of Charles Frederick Allison, the University's founder. In the late 1760s, the Allisons were living in Ireland. When the landlord's agent came to collect rent, he stayed for dinner and the silver spoons were set out in his honour.

The agent said if they could afford silver on the table, they could afford more rent. Joseph Allison said he would emigrate rather than pay more; the rent went up and Allison packed up his family and left for America, bringing the contentious spoons with them. After shipwrecking on their way to Pennsylvania, the family was rescued and brought to Halifax.

Decades later Charles Allison would use his influence and his resources to build the school that eventually became Mount Allison University. Although he did not live to see the academy he founded become a degree-granting institution, his estate gift helped make it possible.

 

"Mount Allison's existence hinges on them in a way. If it hadn't been for the landlord seeing the spoons and wanting to put the rent up in Ireland, Mount Allison might not be here today. They have a powerful symbolic meaning."

TOM FORRESTALL ('58, LLD '87)

 

Mount Allison remains an institution built and sustained on philanthropy.

Students benefit from one of the largest university endowments per capita in the country, which funds scholarships, bursaries, student support services, experiential learning initiatives, and many other opportunities, greatly enriching the Mount Allison experience.

Philanthropy has also enhanced student learning and recreational facilities. Strong fiscal management, coupled with visionary philanthropy, has had a tremendous impact on the University.

Considering a legacy gift? Contact Mount Allison's Development Office at (506) 364-2259 or email donate@mta.ca. Our development officers will assist you as you consider your legacy and the impact you want to see bestowed on future generations.