The Women's Musical Club of Toronto (WMCT) has enhanced the cultural life of Toronto for over 100 years by presenting an annual series of afternoon concerts for the music-loving public. Its series of solo and recital music featuring instrumentalists and vocalists has made it, according to the Toronto Star, "..the city's most consistent supplier of first-class chamber music by newcomers and established groups from North America and Europe."

The WMCT's concerts are free to students trhough its "Student Outreach Programme" and are preceded by lectures given by professors from the Faculty of Music at the University of Toronto. In addition to its concerts, the WMCT encourages talented Canadian musicians by granting scholarships and a national Career Development Award and by providing concert opportunities for emerging artists. The WMCT is a charitable organization run by volunteers, both women and men.

"Winning the Club's competition gave me inspiration and career credibility. And it made me part of a family - the Club's ladies still look out for me and rejoice in my accomplishments." Karina Gauvin

The Women's Musical Club of Toronto Foundation was established to provide stable financing for the continuation and expansion of the WMCT's projects that support the development of emerging Canadian classical musicians. In 2001, the WMCT transferred its designated funds to the Foundation's endowment fund. The Foundation is seeking to grow the endowment fund with current gifts from members and supporters and with future gifts from bequests. The Foundation has broad objects relating to fostering classical music in Canada and has chosen to fulfil its mission by providing funds to the WMCT.
The Foundation currently funds:

• sponsorship of concerts in the WMCT "Music in the Afternoon" concert series, which provides performance opportunities for young Canadian chamber musicians;

• three annual WMCT undergraduate scholarships, two at the Faculty of Music of the University of Toronto and one at The Royal Conservatory of Music;

• the WMCT's Career Development Award; and

• a graduate fellowship in performance at the Faculty of Music of the University of Toronto.

"It is one thing to possess a talent that leads you to a performance oriented profession in music; yet sadly, it is a whole different thing to actually gain the chance to "get one's feet wet" on the performance stage. Thank God the WMCT has recognized and helped to support the young professional musicians of Canada over the last century and provided that which is the most important thing of all - a venue to showcase one's talent. I for one remember fondly my recital in the WMCT series and knew well to appreciate its prestigious importance. It has been one of the cornerstones of my career." Michael Schade

• You may have already supported the WMCT or the Foundation in one way or another - volunteering, donating, or attending concerts. By making a planned gift and becoming a member of the Legacy Circle, you can make a final donation that reaffirms your commitment and is a lasting memorial to it.

• The Foundation provides critical support to emerging Canadian classical musicians - both financially and by sponsoring WMCT concerts at which they can perform. The Foundation helps support artists at the stage in their careers when they need it most. And it is one of the few arts organizations in Canada that does so.

• Gifts will help the Foundation to sustain and expand the WMCT's activities, which provide enjoyment and enrichment for its members and the general public.

• The WMCT has an outstanding record, over more than 100 years, of identifying and fostering young Canadian classical musicians and mounting concert performances by artists from Canada and elsewhere.

• Western classical music is one of the greatest cultural achievements of mankind. But despite its wonderful tradition, it is under-appreciated today. Now is the time for lovers of classical music to do their part to preserve and enrich the tradition.

• Particularly in recent decades, Canada has produced classical musicians in numbers disproportionate to its size. If this is to continue, emerging Canadian artists must be nurtured.

• In addition to its benefits for Canadian classical music, your planned gift to the Foundation will have benefits for you. Simple bequests in wills are flexible and easy to make. In addition, you should enjoy tax benefits.

"Performance is the goal of the musical artist. All the musical studies at the best schools and all the intensive training with the best teachers do not make an artist. Performance makes artists. There is no substitute for live performance in front of an audience to forge the communication skills that are the hallmark of great performers. I am very grateful to the Women's Musical Club of Toronto for giving me the opportunity to perform on an important platform when I was young and unproven and very much in need of such opportunities in order to grow in my art." Catherine Robbin

Planned Giving to the Foundation
Planned giving is not only for the wealthy.
You do not have to be rich - just thoughtful.
And it is very simple to do effectively.

What is planned giving?
Planned giving is a general term covering all types of gifts made to charities on the basis of a financial plan. Most of these gifts are deferred, in the sense that the charity's receipt of or benefit from the gift is delayed. The most common form of deferred gift is a bequest made in a will, which takes effect on the death of the donor.

Why make a will?
It is essential to make a will if you want your estate - the assets you have at your death - to be distributed in accordance with your particular wishes. A will allows you to make thoughtful gifts to your family and friends, as well as to charities you supported in your lifetime. If you die without a will, the law will determine who receives your estate under rules that are unlikely to reflect your wishes.

How do you make a will?
Making a will is often simple and inexpensive. It is best, however, to consult a lawyer, who can give you advice on all aspects, including tax, and do the drafting. Although you may prepare a will yourself, you risk making an error that causes an unintended result or even the invalidity of your will.

What are simple bequests?
Bequests are gifts made by will. When you make your will, you are making a plan which will take effect on your death, unless you change it beforehand. Bequests can take many forms. The simplest and most common are specific bequests and residual bequests. You can make them without discussing them with the Foundation. You should, however, consult your lawyer, for advice generally and with respect to tax aspects in particular. You should also be careful to use the Foundation's legal name - Women's Musical Club of Toronto Foundation.

What are specific bequests?
A specific bequest is a gift of cash or property. For the Foundation, the only form of property that will in general be appropriate is publicly listed shares or other publicly listed securities.

The following are examples of specific bequests to the Foundation:

• I give and bequeath to the Women's Musical Club of Toronto Foundation the sum of $10,000, which may be used for the general purposes of that Foundation.

• I give and bequeath to the Women's Musical Club of Toronto Foundation 500 common shares of The Toronto-Dominion Bank, which may be used for the general purposes of that Foundation.

In both these examples, the bequest allows the Foundation to use the gift without restrictions.

"It was a great honour to be chosen as the recipient of the WMCT Career Development Award. This distinction is truly invaluable to me because, unlike competition prizes, it rewards the musician's work as a whole and is not based on a single performance. It has imparted a great momentum to my career in Canada and abroad." Yegor Dyachkov

What are other bequests?
You can also make more complex bequests. However, they may or may not be appropriate or effective gifts to the Foundation and in any case they require more planning and discussion with the Foundation. Accordingly, you should contact the Foundation before you consider making them.
For example:

• It is possible to make gifts that restrict the use the Foundation may make of them. However, your specific purpose, while laudatory, may not be consistent with the Foundation's goals.

• It is possible to give property other than money or publicly listed securities but that property may not be utilizable or easily sold by the Foundation.

What are other common planned gifts?
In addition to making simple bequests in your will, you can make a planned gift in other similar ways.

A common way involves naming the Foundation as the beneficiary of all or a portion of the proceeds of your life insurance policy, RRIF, or RRSP. When you die, the proceeds will be paid to the Foundation. You can name the Foundation as a beneficiary by signing a change of beneficiary form or by including a designation in your will.

In addition, you can transfer present ownership of a life insurance policy to the Foundation. It is also possible to make a present gift of cash, securities, or other property on the basis that you receive the net income from the property for your lifetime and the Foundation receives the property automatically on your death.

In proceeding with these planned gifts, you should consult your lawyer. Among other things, the tax considerations and consequences vary with the type of gift.

What are the tax aspects?
A bequest or other planned gift to the Foundation will not only provide you with a sense of satisfaction for supporting a worthy organization - you should enjoy tax benefits as well.

If you make a planned gift to the Foundation, you will be entitled to a tax credit for Canadian federal and provincial income tax purposes at the appropriate time. (In the case of a specific or pecuniary bequest by will, for example, that time will be after your death.) A tax credit reduces the income tax otherwise payable. The benefit to you of the tax credit accordingly varies with your income tax liability, among other things. In addition, if you make a planned gift of listed public securities that have appreciated since you bought them, you will in general be entitled to an additional tax benefit.

The tax considerations and consequences of your planned gift to the Foundation will vary with your particular circumstances. You should consult your lawyer or other tax advisor about them. This pamphlet makes only general comments on tax matters and it is not legal or tax advice to any actual or potential donor to the Foundation.

"As an aspiring young pianist studying at the Faculty of Music, University of Toronto, in the early seventies, I had the opportunity to attend some marvellous concerts sponsored by the Toronto Women's Musical Club, in the old Eaton Auditorium. It was always an exciting event to take the subway to College Street, and ride up those seven floors to the hall. I heard, for example, Murray Perahia, before he won the Leeds Competition, and I remember a magical recital by the late Marek Jablonski, whose captivating imagination was to stay with all who heard him. These concerts were as much an education as my schooling (which was, by the way, also sponsored by the WMCT in the form of a generous scholarship) and when I was asked to perform on the series, a number of years later, I felt that I had somehow arrived.

"In the last fifteen years, a new type of support for young artists has been established, called the "career development awards", and I have been twice on the jury to choose a deserving young artist.

"It seems that there is no area in which the WMCT is not involved, whether it is financial aid, concert opportunities, or simply excellence of programming and presenting the best we have to offer. Not only is Toronto fortunate to have this level of commitment, but the whole country now feels its benefit. We, the musicians who have been touched by this organization, are very grateful!" Jane Coop

About the Legacy Circle

The Legacy Circle celebrates those who have decided to make a planned gift - through a bequest in a will or other means - to the Foundation. If you wish to make a simple bequest to the Foundation in your will, you may do so on a confidential basis, without informing the Foundation. If you choose to tell us of your planned gift, the Foundation will acknowledge you as a member of the Legacy Circle. The Foundation would very much like to have the opportunity to recognize your generosity in this way. By honouring its supporters, others will be encouraged to make planned gifts to the Foundation. Legacy Circle members will be invited to special events, including the annual WMCT concert sponsored by the Foundation and the concert given by the winner of the Career Development "Artist of the Year" Award.

In addition, Legacy Circle members will receive recognition annually in the concert programme of the WMCT concert sponsored by the Foundation and in the annual report of the Foundation.

"I am very grateful for my association with the WMCT. I consider it one of the most important elements in the Toronto artistic history, and indeed all across Canada."

"Apart from receiving financial help in form of a scholarship, I had the chance to present one of the most crucial events in my career for the WMCT; my very first professional solo recital. For this and for the wonderful artists which have performed for the WMCT I will always be deeply grateful." Russell Braun

From time to time the Foundation organizes social events at which planned giving to the Foundation is discussed with those who are interested in making gifts and becoming Legacy Circle members. In addition, members of the Foundation would be happy to discuss planned giving on an individual basis.

To attend a Legacy Circle event or to receive further information, please contact the Foundation as follows:

Women's Musical Club of Toronto Foundation
56 The Esplanade, Suite 203A
Toronto, Ontario M5E 1A7
Phone: 416-923-7052
E-mail: wmct@wmct.on.ca