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Monthly Message: Leaving a legacy – why your gift today can feed tomorrow

May 1, 2025   ·   0 Comments

Orangeville is a town defined by community spirit—a place where neighbours help neighbours, and kindness fuels resilience. Few organizations embody this spirit more than the Orangeville Food Bank, a critical lifeline for hundreds of local families facing food insecurity. But while daily donations and food drives keep shelves stocked in the short term, long-term sustainability hinges on something more enduring: legacy giving.

Leaving a gift to the Orangeville Food Bank in your will — or through insurance or investments — may not be the first thing that comes to mind when planning your estate, but according to local experts, Nancy Claridge of Carters Professional Corporation and Ken Krakar of Protect Your Finances (also a member of the Board of Directors at the Orangeville Food Bank), it could be one of the most powerful acts of generosity you’ll ever make.

The Impact of Legacy Giving

“Legacy gifts are transformational,” says Carrie-Anne DeCaprio, donor engagement and outreach manager at the Orangeville Food Bank. “They allow us to think long-term, invest in infrastructure, and support programming that wouldn’t otherwise be possible with annual donations alone by providing us with sustainable funding solutions”

The needs served by the Orangeville Food Bank are growing. With inflation and housing costs stretching household budgets, many in our community find themselves choosing between paying rent and buying groceries. Legacy gifts ensure that support for those in crisis doesn’t stop when economic times are tough.

The Legal Path to Giving: Bequests

Nancy Claridge, a partner at Carters Professional Corporation — Canada’s leading law firm in charity and not-for-profit law — says that including a charitable bequest in your will is easier than most people think.

Charitable bequests allow individuals to support causes they care deeply about without affecting their financial situation during their lifetime. And there are flexible options which makes this accessible for everyone—you can designate a specific dollar amount, a percentage of your estate, or even the residual once other obligations are met.

Legacy giving isn’t just for the wealthy. Anyone can leave a bequest. It’s about values, not value. If the Orangeville Food Bank has touched your life or the lives of people you care about, that’s a legacy worth preserving.

Charitable donations through a will can offset a percentage of your final tax return, reducing the financial burden on your estate.

Investing in the Future: Insurance and Investment Strategies

For those looking for other avenues to give, insurance and investment-based gifting is a powerful strategy. Ken Krakar, an expert in insurance and charitable investment strategies, says it’s an often overlooked but incredibly impactful approach.

Life insurance is one of the most efficient ways to leave a substantial legacy. You can name the Orangeville Food Bank as the beneficiary of an existing or new policy. The premiums are usually modest compared to the eventual gift. Pending how it’s structured you may receive charitable tax credits during your lifetime or to your estate to offset any tax liabilities.

A Personal Legacy

For many residents, the Orangeville Food Bank has been there in times of need—not just as a place to access food, but as a symbol of community support. By leaving a legacy, donors aren’t just helping to feed future families—they’re ensuring that a vital part of Orangeville’s safety net continues to thrive.

“We’ve had individuals return to us, inspired by the help they once received, saying, ‘Now that I’ve regained my footing, I want to ensure others don’t face the same struggles I did,’” shares DeCaprio. “This is the essence of legacy giving—it’s about paying it forward and building a sustainable future for the food bank.”

How to Get Started

Both Claridge and Krakar recommend speaking with a legal and financial advisor to tailor your giving plan to your personal goals and family needs. Before finalizing your plans, it’s a good idea to speak with Carrie-Anne at the food bank directly about your intentions to ensure your legacy lives on in the most impactful way.

“Think of it as planting a seed,” says Krakar. “You may never see the tree fully grown, but generations will sit under its shade.”

A Future We Build Together

The Orangeville Food Bank relies on community generosity for support. To continue serving future generations, planning for ongoing assistance is essential. Legacy gifts, such as wills, insurance, or investments, can ensure that no one in the community goes hungry.

For more information on how to leave a legacy to the Orangeville Food Bank, contact Carrie-Anne DeCaprio at the Orangeville Food Bank 3 Commerce Road, Orangeville 226-558-2109 or carrie-anne.decaprio@orangevillefoodbank.org

Nancy Claridge and Ken Krakar are actively involved in the Orangeville Food Bank and own their own firms. While they share insights on legacy giving in this article, readers are encouraged to consult their own financial planner or legal advisor to explore their options.

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