There are many ways you can make a lasting memorial that will result in significant benefits to your community through the work of the dedicated healthcare professionals in our local health care system. This page will provide you with information and options on how you can truly improve health care in our community.
Before deciding on a course of action, we encourage you to seek professional legal, estate planning and financial advice.
Under the provisions in the 2006 federal budget, individuals now have far more attractive options to make large-scale planned donations to charity. There is now a way for individuals to: sell stock without paying tax, make a generous gift to the Chesley & District Health Services Foundation; and, keep much of the proceeds from the sale. It's great news for our donors and for our community.
Appreciated securities (stocks, bonds or mutual funds) can now be donated to charity, and be sheltered from any related capital gains taxes on those securities. The gift receipt issued is based on the value of the securities at the close of business on the day of transfer. Donors receive tax credit for their gift and have the additional tax incentive of paying no capital gains tax.
Donating appreciated stocks is now the most tax-effective way to make a substantial gift to the Chesley & District Health Services Foundation.
Life insurance is important, providing security and support to families in times of need. Life insurance can also help Chesley & District Health Services Foundation create a healthier future for our community. There are several ways to use life insurance to make a planned gift to the foundation. You can contribute a policy you already have or purchase a new as your gift.
Transferring ownership of an existing policy that you and your family no longer need is a simple way of providing a significant gift your local health care service providers at a modest cost to you. If you make the Chesley & District Health Services Foundation the beneficiary and owner of the policy, you can receive a donation receipt for its value now. Any premiums you pay after your transfer ownership are also eligible for a charitable receipt.
Naming the Chesley & District Health Services Foundation as your beneficiary, while you retain ownership is a simple way of maintaining control of your policy while providing a future gift. However, this type of gift is not eligible for a donation receipt now or at the time of death. To receive a tax benefit, you must name your estate as beneficiary and in your will make a bequest to the foundation in the same amount. Upon your death, the estate will receive a donation receipt for the proceeds.
An annuity plan combines a charitable donation with a lifetime annuity for the donor. In exchange for your gift, the foundation will buy a lifetime annuity for your (and your spouse) from a licensed insurance company. This annuity will continue as long as your live, no matter what happens to the economy or interest rates. A gift annuity brings special tax savings depending on your age and other factors. Please contact your financial advisor or the foundation for more information.
This page has provided information on ways you can make a planned gift to the foundation that will ensure the continued delivery of high quality and responsive healthcare within our community. Your personal tax situation, life goals and family considerations will all determine which type of gift is best for you.
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Saturday October 19, 11am to 2pm at the Chesley Grocery Store