Each May, Canadians celebrate Leave a Legacy Month – an annual opportunity to learn about and celebrate the profound long-term impact of legacy giving. In honour of Leave a Legacy Month 2021, we’re grateful to share the story of one donor who has chosen to name Centennial College in his will so he can help make a difference for generations to come.
Bruce Cohen didn’t graduate from Centennial College. He doesn’t know anyone who went there. He’s never even lived in Toronto’s east end.
But even without an existing connection to the school, he knew that leaving a gift to Centennial in his will would create a long-lasting impact – and, ultimately, a stronger Canada.
“I wanted to find a way to support newcomers to Canada and a community college, which is a concept I believe in deeply,” says the retired financial journalist. “When I looked at Centennial’s location in the east end and learned about its high number of international students, I knew it would be the perfect choice.”
Cohen, who immigrated to Canada from the United States in the 1970s, wanted to make sure any money remaining in his estate would be put to the best possible use. For him, that means helping to support the dreams of immigrants and refugees seeking a better life.
“My own grandparents came to North America with nothing after fleeing religious persecution,” he says. “Their children, and their children’s children – my generation – all benefitted tremendously from public education, so it was important to me to find a way to carry on that legacy.”
Cohen decided to leave half of the residual amount of his estate – the funds remaining after taxes have been paid and specific bequests granted – to the College. The gift will form an endowed scholarship that will specifically support students facing financial obstacles.
As a former finance writer who worked for CBC and the Financial Post before starting his own freelance business, Cohen is passionate about encouraging others to consider charitable bequests while estate planning.
“Too many people allow that money to simply be paid out as taxes, but charitable bequests can allow you to direct your estate in a way that’s meaningful to you,” he says.
Cohen’s scholarship, which will be named the Pay It Forward Scholarship, will honour his own family’s story while supporting the success of generations of young people.
“They are the future,” he says. “And Centennial is helping to give them the best possible start.”
To learn more about how you can leave a gift to Centennial College in your will, please contact Fiona Bedlington, Senior Development Officer, Annual & Legacy Giving at fbedlington@centennialcollege.ca or 416-289-5000 ext. 3558.