You can make your Donation in
several ways:
1. To Donate online, click
here. All information is encrypted with
Secure Sockets Layer (SSL) eCommerce connection Located in Canada
2. To Donate by mail please download
our PDF
donation form here
3. To Donate by telephone just call the VHF office:
(306) 765-6105. We accept Visa and Mastercard
Planned
Giving
There are a number of ways you can give to the Victoria
Hospital through the Victoria Hospital Foundation. Your gift will
support the Victoria Hospital's work, provide funds for specialized
equipment, innovative patient care services and upgrading of facilities
and replacement of out-dated equipment. The Victoria Hospital Foundation
plays a vital role in maintaining the excellence of patient care at
the Victoria Hospital … your hospital. Remember the considerations
are complex, so consult a professional. Careful planning can reduce
probate fees and taxes.
Ideas for Families
* Consider your needs as a donor
* Consider the needs of the Victoria Hospital
* Your estate gift will come from current
or future assets rather than from your income
* Estate gifts are generally larger amounts and provide Estate Tax
benefits.
DONATION
CALCULATOR
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Ways to Plan
Your Giving
Tax Implications
The 1996, 1997, 2001 & 2006 Federal Budgets included
substantial changes to the tax act, which improved the tax treatment
of gifts to charities such as the Victoria Hospital Foundation.
*
The donation limit increased from 20% to 75% of taxable income
* In the year of death the donation limit increased from 20% to
100% of taxable income, with any unused portion carried back to
the previous year
* When listed securities are gifted to a public charity, such as
the Victoria Hospital Foundation, the inclusion rate on the capital
gains is reduced from 25% to 0%.
* We will work with your professional financial advisor to ensure
that both your wishes for your donation and the tax implications
are fully considered.
Gifts of Bequest by
Will
* Referred to as "the ultimate gift"
* Enables you to allocate as you choose
* Unrestricted bequest, allows the hospital to
use where it is needed most
* Restricted bequest, allows the donor to specify
a particular area of care the funds are to be used for ...
* Provides tax benefits to donor's estate
* Receipt for full value of bequest
* Value of 100% of final year of income is allowed
* Excess value, carried back to previous year
Suggested language to bring to your Attorney:
" I give and bequest
Option a) particular sum of money:
the sum of $_______
Option b) ____% of my Estate:
OR
____% of the residue of my Estate.
Option c) a particular item: my
(i.e.: house/vehicle/stocks) that I may own at my death location
at (location) to the Victoria Hospital Foundation; a charitable
corporation under the laws of the Province of Saskatchewan and presently
having its offices in Prince Albert, Saskatchewan to be used as
the officers of the Foundation may direct (or specify a particular
program or purpose, if you want it to be used in a particular manner)."
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Gifts of
Charitable Remainder Trust
* Funded with securities, real estate or cash
* Is an irrevocable gift of value
* Provides income earning for life, or another beneficiary, or can
be guaranteed for specific number of years
* Amount of donation receipt for present value of remainder interest
is determined by Revenue Canada formula
* If securities are used to fund the trust, capital gains implications
must be considered
* Donor can choose to manage the trust or not
* Gift is final, less likely to be challenged
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Gifts
of Residual Interest
* Usually art work or real estate
* Kept by donor until death
* Ownership irrevocably transferred to the foundation
* Revenue Canada determines amount of donation
receipt
* Benefits to donor and foundation
* Immediate tax deductions
* Donor has continued use of property
* Satisfaction the gift will help the foundation
* Foundation's knowledge of future funding
* Donor responsible to maintain property
* Tax considerations
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Gift Annuities
* Funded by cash to the foundation
* Hospital purchases the annuity in name of donor
and can be used to cover both his/her spouse through both life times
* Guaranteed income payments made according to
life of annuity
* Amount of income that is tax-free and the amount
of donation receipt determined by Revenue Canada formula
* Flexibility for the foundation in how the funds
are applied.
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Gifts
of Life Insurance
• Method used to leverage
small amounts of short-term investments into a large meaningful
future gift to the foundation
• Often referred to as, “Pennies
in and Dollars out”.
• Can use existing policies
• Can be structured as wealth
replacement
• Policy designation to the
foundation must be irrevocable
• Can use existing policies
that are no longer relevant to the financial needs of the donor
• Foundation to receive the
death benefit
• Options are available to
the donor on cash value
• Structure of beneficiary
designation and charitable bequest are important to maximize tax
benefits
• If policy is paid up then
the tax receipt is issued for the cash surrender value
• For new policies purchased by the donor,
and owned by the foundation as the beneficiary of the policy:
o Amount of premiums are eligible for charitable
tax receipt resulting in tax credits, to defray the cost to the
donor
o The policy can be prepaid and dividends earned within the policy
used to maintain coverage
o The Foundation receives the death benefit
• As a donor you may hesitate to make a large
gift because you do not want to lessen the Legacy you leave to you
children
o Make the donation and purchase a new
policy with the children as beneficiaries
o Tax savings of the gift alone may cover the cost of the new
policy
• As a donor with concerns about current/future
taxation and income flow, life insured policies offer additional
options
o Fund a “Charitable Remainder Trust” and
use the income to cover premiums of the policy
o Structure of funds and type of policies are critical for someone
to maximize the tax benefits
Always seek the advice of a licensed
professional
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Gifts of
Securities, Stocks and Bonds
Effective May 2, 2006… the federal budget
eliminated the capital gains tax on a gift of publicly-traded securities
to public charities (charitable organizations and public foundations).
This will provide donors with excellent tax savings for securities
donations.
You may
have stocks that have risen in value. By donating them to the Victoria
Hospital Foundation you will no longer have to pay the capital gains
tax. To qualify you must gift the shares to the The Victoria Hospital
Foundation rather than sell the shares and donate the cash. The Victoria
Hospital Foundation will sell the shares converting them to cash usually
on the day they are received into our stock account or the following
business trading day. The Victoria Hospital Foundation will then issue
a Charitable Tax Credit Receipt for the value of the stocks you have
donated
You may wish to donate a portion of your stocks to
wipe out the capital gains due and keep the rest of the funds for
yourself.
You might want to purchase or assist with the purchase
of a piece of equipment for the hospital. You could make your donation
in stocks and a leave your savings untouched.
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Gifts of Registered
Funds
Gift of RRSPs / RRIFs: All tax deferred instruments
such as RRSP's, RRIF's, Annuities, Pension funds, or those converted
to provide retirement income can be considered for this type of a
gift.
| * In
the year of death, donations up 100% of taxable income are
deducted on the tax return with any unused portion allowed
to be carried back to the previous year.
Upon death, total value of these funds must be reported
as income and are fully taxable
If
your retirement and estate plan provide sufficient income,
you may wish to make a donation and there will be a large
taxable amount at death, then making your estate the beneficiary
of these funds should be considered. You would bequest the
funds in your Will and donate the amount to the foundation
Result:
tax free allocation of proceeds
Considerations
are complex
Consult
a professional
Actually
may increase probate fees ($7 per $1,000)
Reduces
or eliminates income taxes in final year (40% - 50%) |
-
s
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Privacy
Statement
We adhere to the privacy guidelines set by the Canadian
Centre for Philanthropy, which provides rigorous standards for charitable
and non-profit organizations in Canada. In addition, our policy complies
with the Donor Bill of Rights developed by the American Association
of Fund Raising Counsel, the Association for Healthcare Philanthropy,
Council for Advancement and Support of Education and the Association
of Fund Raising Professionals.
Collection
and Use of Personal Information
Our general policy is to collect personal information
with the knowledge and consent of the individual whenever reasonably
possible. Occasionally, we may collect personal information from third
party sources (for example, from publicly available sources, from
an individual’s authorized representative, etc.)
Further, where reasonable to do so and if not already
obvious, we identify the purposes for which we collect personal information
at the time of collection.
Primarily, we collect and use personal information
for the following purposes:
-Accepting and processing donations
-Issuing tax receipts
-Responding to inquiries about our donor programs
and other matters
We may also use our donors’ personal information for
the following secondary purposes:
-Informing donors about future fundraising events
and other news
-Recognizing donors publicly for their donations
(for example, publication of donor recognition lists, posting of
donor plaques, etc.)
We provide donors the opportunity to “opt-out” of
either or both of these secondary purposes. This can be accomplished
by placing a check mark in the box of our privacy statement which
is included in many of our fundraising materials and returning it
to us.
Donors may also contact VHF directly to indicate their
decision.
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Disclosure
of Personal Information
We strictly protect the confidentiality of all personal
information that we collect regarding our donors, prospective donors
and volunteers. We do not sell, trade or lease this information.
We may, from time to time, engage third parties who
assist us with our fundraising activities (for example, mail-houses,
lottery organizers, etc.). These third parties may receive personal
information in the course of providing service to us. We take reasonable
steps to ensure that such third parties are bound by appropriate agreements
or other requirements to protect the confidentiality of any personal
information they may receive.
We may disclose personal information in other circumstances
where we have a legal right or duty to do so.
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Security
The security of donor personal information is important
to us. We have in place reasonable security policies, processes and
procedures to help keep personal information that is under our control
safe and secure.
Access
You may request access to your personal information
any time you wish to ensure it is current and correct. Feel free to
contact us if you wish to make such a request. We will promptly reply
to your request by either providing you with access to your personal
information or providing you the reasons why we cannot provide access
to your personal information (for example, because we no longer have
the information, because the information contains someone else’s confidential
information, etc.).
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