Thought you could never leave an endowment to your favourite charity? There are many options available to donors wishing to make an impact with their charitable gift. These include:

Life Insurance: This option allows the donor to make a significant donation from relatively small contributions. By naming a charity as owner and beneficiary of the policy, your premiums qualify for charitable tax receipts. An existing policy that is no longer needed can also be donated by transferring ownership to the charity and naming the charity as beneficiary.  You would then receive a tax receipt for the cash value of the policy.  

Charitable Remainder Trust: In this scenario, the donor transfers a piece of property to a trustee who holds and manages it on their behalf. If the property produces income, the donor can receive that net income or designate it to other beneficiaries . The trust remainder is given to the charity either at the end of a specified period, or when the donor dies. The formal trust agreement spells out how the property is to be used to benefit the charity. A donor can also make a gift without surrendering capital. Interest income or dividends from securities can be donated to a charity and a tax receipt may be issued. The donor would bring the interest or dividends into income, receive any eligible dividend credit and use the charitable receipt to reduce taxes owing.

When considering these options to make a lasting gift to Crowsnest Pass Health Foundation, we recommend you consult your personal legal or financial advisor.