Through thoughtful planning, you can turn your assets into a meaningful Legacy Gift that will help ensure the financial future of the BMP Hospital – and receive a direct financial benefit in return. In fact, for every planned gift, there is a significant tax benefit.
These are some of the more popular means by which this can be done:
- Bequests – Many donors use their will to leave a lump sum, or percentage of their estate to the BMP Foundation. These gifts may be used to acquire a specific gift, or to build the Endowment Fund of the BMP Foundation.
- Property – Residential or commercial property and land can be donated directly to the BMP Foundation, or used to fund a gift annuity.
- Life Insurance – Life insurance programs or policies offer a number of opportunities for donors to make a substantial gift to the BMP Foundation in the future.
Some donors choose to simply transfer a mature life insurance policy into the Foundation’s name. Others take out a life insurance policy with the BMP Foundation as the beneficiary. They pay a small annual premium, which is tax deductible, while their eventual gift to the BMP Hospital is substantial.
- Gift Annuities – This gift is similar to an investment. Donors give a lump sum to the BMP Foundation and subsequently receive a percentage of that money each year until they die. Any asset – from property, to jewellery, to guaranteed investment certificates – can be donated to the BMP Foundation and converted into a gift annuity.
Important: It is strongly suggested that donors advise the Foundation office when such gifts are made. Bequests that are received without prior notification from a donor are allocated according to Board guidelines. At present, our practice is to apply said gifts to the Foundation’s Endowment Fund, unless instructed otherwise. Donors are encouraged to advise the Foundation of such gifts in order that a donor’s particular wishes or interest are known and respected.
You can donate securities (stocks, bonds, and mutual funds) to the BMP Foundation. This is a tax efficient way for you to support the Foundation as you receive a charitable receipt for the full value of the securities donated and you also eliminate the tax payable on any capital gain you may have achieved.
For more information, call our office at 450 266-5548 during working hours and we will be pleased to assist you in making a donation.