Gifts of Cash
When a donor makes a gift of cash or property to the Thunder Bay & District Humane Society, every dollar goes to support animals in need in our community. An outright gift gives a donor the satisfaction of seeing their gift at work and knowing that lives are being changed because they cared.
Acceptable Gifts:
- Cash
- Cheques or Money Orders
- Payments on Credit Card
- Pre-Authorized Contributions (PAC), usually paid monthly
Benefits to Thunder Bay & District Humane Society:
- Available for immediate use
- Highly liquid
- Easy to administer
Benefits to Donor:
- Donation receipt for the full amount of gift
- Straightforward, easy-to-understand transactions
- Significant tax benefits depending on amount gifted
Most Appropriate For:
Donors who want to give a simple cash donation.
Common Questions & Answers
Q: Is an outright gift always made in cash?
Not necessarily, but a cash contribution - paid by cheque, money order or credit card - is the simplest way to give. Remember that a cheque or money order is considered to have been given on the day it was mailed, so a gift mailed late in December and received in January can still qualify for a donation receipt in the preceding tax year.
Q: What is the tax benefit of an outright cash gift?
Because a donor receives a donation tax credit for their gift, it is worth more than its actual cost. The federal tax credit is equal to 16 percent of the first $200 of donation receipts plus 29 percent of receipts in excess of $200. Since a federal tax credit also reduces provincial taxes, a donor's combined tax savings is substantial. Here's a general example assuming a combined tax credit of 45 percent.
Bob writes a cheque for $1,000 to the Thunder Bay & District Humane Society, but the net cost of the gift to him is only $550, because his donation receipt for $1000 reduces his income taxes for that year by $450.
| Total Previous Donations | Under $200.00 | Over $200.00 |
| Federal credit | 16% | 29% |
| Provincial Credit: | ||
| Taxable Income Under $60,000 | 6.05% | 11.75% |
| Taxable Income Over $70,000 | 9.44% | 17.41% |
| Combined Tax Credit: | ||
| Taxable Income Under $60,000 | 22.05% | 40.16% |
| Taxable Income Over $70,000 | 25.44% | 46.41% |
| After Tax Cost of $100 Donation: | ||
| Taxable Income Under $60,000 | $77.95 | $59.84 |
| Taxable Income Over $70,000 | $74.56 | $53.59 |
A donor may claim up to 75 percent of earned income in charitable donations each year. Donations exceeding the limit can be carried forward and claimed on future tax returns for up to five years.
Q: What is the best way to make a cash donation to the Humane Society?
Our preferred campaign for cash donations is our PAD Plan.
Monthly and yearly contributions can be done through direct withdrawal from your financial institution.
Smaller, one time donations or donations for other amounts may also be made directly to the Humane Society.