This type of gift is generally of a considerable amount and is linked to income tax and estate planning. You can thus make a commitment to donate funds that are usually disbursed at a later date. When planning your donation, you contribute to the hospital’s future needs while defining personal, financial and fiscal goals. Planned giving is divided into two major categories:
Outright gifts can be summed up in a few specific examples:
- A sum of money
- Personal assets (jewellery, works of art)
- Real estate (home, land)
- Securities (bonds, investment certificates)
- Stocks or other
Bequests and life insurance policies are the most well-known types of deferred gifts.
Through a bequest, you can name the Friends of Healthcare Foundation as a beneficiary of a monetary sum, of a retirement fund or of an outright gift. In your will, you may also bequeath a particular item, a percentage or all your property.
By offering a life insurance policy, you can offer a substantial donation while only disbursing a small portion of your revenue. It is thus possible to transfer to the Foundation a policy which has already been paid, to purchase a new policy or simply name the Foundation as beneficiary of your life insurance policy in your will.
It goes without saying that other options are available when making these types of donations to the Foundation. We recommend speaking with your financial advisor when considering Planned Giving.