Make A Difference
The health care peace of mind that Salt Spring Island residents now have is the direct result of our community’s generous support of the Foundation. In the long term, these gifts will be vital to continually improve our hospital equipment and to support the capital requirements of the facility. Through your estate planning you can provide a lasting gift that will provide the resources for endowment purposes and at the same time receive significant tax benefits.
Planned Giving Options
Gift In Your Will
Making a will ensures that the assets you have built up over the years will be distributed according to your wishes.If you would like to support Lady Minto in your will, you can set aside a certain dollar amount or designate a percentage of the residue of your estate (the remainder of the estate once all designated gifts have been made and administrative expenses and taxes have been paid) for the Lady Minto Hospital Foundation. You can also bequeath a specific piece of property like a home, securities (for instance, stocks or mutual funds) or other financial asset. The tax benefits derived from these gifts are often quite substantial. If you intend to leave a gift in your will – large or small – to the Lady Minto Hospital Foundation the process is very straightforward. It is simply a matter of preparing a will or codicil and including a phrase about your intention.
Gift of Securities
Increasingly, our donors are taking advantage of the tax incentives announced in May 2006 on donating publicly traded securities to registered charities or foundations. If you have publicly traded shares in your portfolio that would generate a substantial taxable gain if you sold, you can consider donating some of those shares to make your next donation. You will get a tax receipt for the full market value of the shares and there will be no tax to pay on the disposition of the shares. Please contact our office first if you are considering making a gift of shares. The Foundation works with our local Nesbitt Burns office in Ganges to facilitate your donation. Due to the strict confidentiality policy of all banking institutions, we will not be notified of the donor’s name unless he/she contacts us first directly. The key to executing this tax strategy successfully is to make sure you “gift” the securities to a charity or foundation, don’t sell them and donate the cash.
Gift of Life Insurance
The gift of life insurance presents an excellent opportunity to make a generous contribution to the Lady Minto Hospital Foundation for relatively little cost. A gift of life insurance can also offer immediate tax savings and ensures that your entire estate passes directly to your heirs and your favourite charity. You can designate the Lady Minto Hospital Foundation as the owner and beneficiary of an existing policy that you no longer need and receive a charitable receipt for its cash surrender value. If further payments are required on the policy, you will receive a charitable donation receipt for all payments made after the policy is assigned to the Foundation. It’s also possible to purchase a new life insurance policy and designate Lady Minto Hospital Foundation as the owner and beneficiary. In doing so, you will receive charitable donation receipts for the full amount of all annual premiums paid.Any death benefits paid directly to the Lady Minto Hospital Foundation under the policy will entitle the donor’s estate to a donation receipt. As death benefits are paid directly to Lady Minto, probate taxes can be avoided and the risk of creditor claims against the estate can be minimized.
How to Give
Should you wish to find out more about how your gift could impact the hospital and the tax advantages of making such a gift, please contact our Planned Giving and Development Coordinator, Diana Hayes, at the Foundation at 250-538-4845 or email her at Diana.Hayes@viha.ca - At the same time, we can provide you with information on various ways of giving such as Lifetime gifts including securities, or Deferred gifts such as life insurance, bequests, RRSP or RRIF, Charitable Remainder Trusts or Gift Annuities.
From day one, the Lady Minto Hospital has had the support of the community. A healthy sense of community has always made the difference in allowing us to offer the kind of personalized, quality health care that has become a Lady Minto tradition. It is this combination of a dedicated health care team and their ability to access advanced support technologies that keeps the Lady Minto in the forefront of our province’s community hospitals.
The financial resources available to our hospital from the various levels of government only partially meet the hospital’s equipment requirements and each year we face a shortfall. Without your support and commitment, we could not maintain the level of care and services the community has come to expect. Since the Foundation was founded in 1994, we have distributed over $4 Million Dollars to ensure that the hospital has the most up-to-date equipment and physical plant. Securely donate online using the form below.