Legacy Giving |
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Legacy Gifts to The St. Catharines General Hospital Foundation
What is Legacy Giving?
Legacy Giving is when a charitable gift is made in such a way that you maximize the tax and estate planning benefits. It may be a “present gift” the charity can use now or a “deferred gift” available in the future, perhaps after your death. Participating today with your legacy gift will leave a living legacy to help others.
How To Leave A Gift
Leave A Gift In Your Will
Fewer than 7% of all Canadians have included nonprofits in their estate plan. Can you imagine the positive impact on our hospital if each of our donors also left a bequest in their will?
Purchase A New Life Insurance Policy
You can name The St. Catharines General Hospital as the owner and beneficiary to your life insurance policy. For just a small monthly premium you can make a substantial gift to the Foundation. Because premiums are far less that the eventual gift this is an excellent way of making a significant gift. You will receive a tax receipt annually for the premiums paid on the policy. If you choose to make St. Catharines General Hospital Foundation the owner of an existing policy, you will receive tax receipts for the cash surrender value of the policy and for subsequent premium payments.
A Charitable Remainder Trust
This enables you to make a sizeable commitment to the Foundation while maintaining the income benefit of your assets for the duration of your life. Assets placed in the trust can include: cash, stocks, bonds, securities and other investments. You will receive a tax receipt for a portion of the value of the assets which is calculated using your life expectancy and prevailing interest rates at the time the trust is established.
Donating Public Shares
Our government is now realizing that the turning of our nation’s economic wheel is fueled by both personal and corporate donations. The evidence is in the more liberal changes in the tax act, specifically, regarding the donation of public company shares to qualifying foundations.
Prior to the budget of May 2, 2006 when a share was donated it triggered a capital gains tax that had to be paid by the donor which, in effect, reduced the net benefit of making the gift.
What is Legacy Giving?
Legacy Giving is when a charitable gift is made in such a way that you maximize the tax and estate planning benefits. It may be a “present gift” the charity can use now or a “deferred gift” available in the future, perhaps after your death. Participating today with your legacy gift will leave a living legacy to help others.
How To Leave A Gift
Leave A Gift In Your Will
Fewer than 7% of all Canadians have included nonprofits in their estate plan. Can you imagine the positive impact on our hospital if each of our donors also left a bequest in their will?
Purchase A New Life Insurance Policy
You can name The St. Catharines General Hospital as the owner and beneficiary to your life insurance policy. For just a small monthly premium you can make a substantial gift to the Foundation. Because premiums are far less that the eventual gift this is an excellent way of making a significant gift. You will receive a tax receipt annually for the premiums paid on the policy. If you choose to make St. Catharines General Hospital Foundation the owner of an existing policy, you will receive tax receipts for the cash surrender value of the policy and for subsequent premium payments.
A Charitable Remainder Trust
This enables you to make a sizeable commitment to the Foundation while maintaining the income benefit of your assets for the duration of your life. Assets placed in the trust can include: cash, stocks, bonds, securities and other investments. You will receive a tax receipt for a portion of the value of the assets which is calculated using your life expectancy and prevailing interest rates at the time the trust is established.
Donating Public Shares
Our government is now realizing that the turning of our nation’s economic wheel is fueled by both personal and corporate donations. The evidence is in the more liberal changes in the tax act, specifically, regarding the donation of public company shares to qualifying foundations.
Prior to the budget of May 2, 2006 when a share was donated it triggered a capital gains tax that had to be paid by the donor which, in effect, reduced the net benefit of making the gift.
