Your 5 423 $ donation could give up to 75 000 $ to the JM Canada Foundation!
First Large Cultural Donation Policy Renewal: Make JM Canada’s History
In June 2013, after the Bourgie report was subitted, an additional 25 % tax credit was implemented to foster large cultural donations. This measure, meant to end by December 2017, was just renewed. This tax credit:
- may be used only once in an individual’s lifetime;
- is applicable to a donation from 5 000 $ to 25 000 $;
- is applicable to a donation made before December 31st, 2022 ET;
- is applicabl to a donation made out to a cultural organization, such as JM Canada.
The donation must amount to 25 000 $ in order to maximize the tax credit. For a Québec taxpayer at the maximum tax rate (with a taxable revenue of over 227 600 $), the real cost of this donation can be as low as 5 423 $.
The amount of this exceptional donation will be placed in a permanent endowment fund, from which JM Canada will receive 3,5 % in interest annually.
And the benefits don’t stop there!
Involvement of Various Government Levels
This exceptional contribution will also be taken into account by two asset-matching governement programs, and by the Foundation of Greater Montreal. This allows us to increase the amount we benefit from in the following way:
- through the Canadian Heritage program, which matches up to 100 %* of the amount, meaning an additional 25 %;
- through the Mécénat Placements Culture program of the Conseil des arts et des lettres du Québec, which also matches up to 100 %* of the amount, therefore adding yet another 25 000 $.
All in all, a donation whose real cost is as low as 5 423 $, your original contribution can be increased up to 75 000 $, thanks to government levers and to the Foundation of Greater Montreal. Remitted into a permanent endowment fund, it will gain the potential to support JM Canada initiatives starting now and well into future generations, while also ensuring the continuity of our 70 year-old organization.
To obtain additional information or to signify your interest in become a large donor, please contact Mr. Richard Lupien, president of the JM Canada Foundation (firstname.lastname@example.org) or Ms. Nathalie Allen, Financial Services Director at the JM Canada Foundation (email@example.com).
BEHIND EVERY CONCERT LIES A LARGE DONATION!
* According to available funding envelopes and a ponderation taking into account the amount of previously received subsidies, the annual budget and the organization’s investment choices.
* The amount of the tax credit may vary according to an individual’s tax rate. Don’t hesitate to discuss this with your financial planner.
** According to available funding envelopes and a ponderation taking into account the amount of previously received subsidies, the annual budget and the organization’s investment choices.