SouthMouth
Weekly Bulletin of the Rotary Club of St. Catharines South

Lead the Way 

Each year Canadians give generously to a wide variety of organizations. While tax savings may not be the primary reason for making a charitable contribution a tax reduction is important in determining the size of the assets for our legacy gift.

 

OPENING THE MEETING

  •   Welcome by President - Elect Don Hetherington
  •   National Anthem: Julio Batres
  •   Toast to Queen and Canada : Norris Brown
  •   Grace: Jim Howes

GUESTS AND VISITING ROTARIANS

Andrew Bowles introduced Ross MacDonald

SERGEANT-AT-ARMS

John Teibert serving as Sergeant at Arms Rich Carver was happy to have two great days of skiing. Greg McDonald is happy to be skiing with Dan Toppari.  Laetitia De Witt's daughter is happy her daughter has graduated and will receive her first pay cheque January 26 2007 .  Jean Holbert-Leighton's daughter has graduated from Western and has been accepted by John Day College . Paul Massuet was happy finally his 50/ 50 ticket was picked last week after 12 years of buying one each week but MIMI was unlucky and selected the wrong card. Andrew Bowles' father test results showd his Father's tumor has shrunk. Bob McBride is happy he has one dollar left form poker night. Norris Brown was glad he was sick and did not lose any money at poker.  John Klassen was happy he did play poker.

ANNOUNCEMENTS

Diamond Gala meeting Our club's major fundraiser of the year needs volunteers, register online on the website. To increase revenues we need more and better gifts, Friday morning meetings 7:30 contact Julio Batres.

AMBASADORIAL Scholarships application due April 1st 2007 McMaster University has a student from Milan Italy and Buffalo has a student from Bangladesh . Please contact Andre Bowles for more details and application.

District 7090 Conference May 4, 5 & 6 2007  Location: Holiday Inn Grand Island

New Board to meet at Don Hetherington house Wednesday Jan 31 07 7:00pm

Bingo Attendance was up January 13th about 260 people were present. Greg McDonald thanked Donna & Ron Kozub Jean Holbert-Leighton and Debi Garneau for volunteering. Greg is unsure how the closing of Skyway will affect our revenues from bingo.

50/50 DRAW

Lynda Baiano ticket was picked but she did not pick the Queen of Spades.

EARLY LEAVERS   Jim Howes

GUEST SPEAKERs, Jason Polluck Charitable Giving Strategies

Jason explained planed giving is a system for those who have achieved a degree of financial success and integrating tax planning into our philanthropic decisions.

A tax deduction is a cost that reduces your taxable income. A $100 tax deduction saves you between $26-$45 in taxes. A tax Credit reduces your taxes directly. A $100.00 tax credit will save you taxes of $100, regardless of your tax bracket.

In 2000, the government  increased limits on donation tax credits,  allowing charities to be beneficiary of life insurance, RRSPs.  In May 2006, elimination of all taxes if donate appreciable securities such as stock, mutual funds. 

Ther are many ways to make a gift that provides maximum benefits to the community as well as reduce taxes paid by the donor. Gifts can include Cash, Securities, RRSP, RRIFs, Life Insurance, Annuities, Property, Trust, Bequest through wills, and Donor advised funds.

Clearly, there is a need for greater awareness among us with respect to the various options available when considering giving to Charities and tax reductions.

The desire to leave a legacy is part of the human condition. During our lifetime, we often measure our success by tangible accomplishments. We own homes, vacation properties, stocks, bonds, mutual funds, and other valuable assets. Sometimes, we measure our success by our achievements in the workplace. While these are important, they are only a small part of the impact we want to have on our Communities.

Greg McDonald thanked Jason Polluck.

 REPORT

 Attendance report  Norris Brown 28 members 10 make ups for 94% per cent.

ADJOURNMENT

As there was no further business for the good of Rotary, President Elect Don adjourned the meeting at 1:30 p.m.