RRSPs and RRIFs
RRSPs and RRIFs can also provide an excellent way to further your charitable interests.
Naming Health Sciences Centre Foundation as the beneficiary of your registered retirement savings plan or retirement income fund is easy to do and can be highly beneficial. You can also choose to name the HSC Foundation as the primary beneficiary, or as a secondary beneficiary in the event that your spouse or other primary recipient should pass on before you. It is not necessary to amend your will in order to take advantage of this option, and designating a charitable beneficiary does not affect your own use of the retirement funds in any way.
For more information or a confidential discussion about naming HSC as the beneficiary of your registered retirement savings plan or retirement income, please contact us at (204) 787 2022 or hsc_foundation@hsc.mb.ca.
Click here to make an online donation.
Our charitable registration number is 11895 5012 RR0001.
Trusts
A charitable remainder trust is an independent trust that holds assets. You can transfer cash or appreciated property (stock, bonds, land, or other marketable property) into the trust, reserving an income interest for one or more beneficiaries. Depending upon the assets used to fund the trust, a trustee manages the cash or real property (generally selling the property and reinvesting the proceeds) to generate income for the beneficiaries. The trustee can be one or more individuals and/or a trust department, and, in some cases, yourself.
Usually, the trustee makes quarterly payments to the income beneficiaries, such as HSC Foundation, that may continue either for the lives of the beneficiaries or for a fixed term of up to 20 years. After the income interest ends, either from the beneficiary's death or the conclusion of the term, the trust terminates. The trustee then pays the remaining assets in the trust to the charity or charities named in the trust for whatever use you had originally stipulated. For more information contact us at (204) 787 2022 or hsc_foundation@hsc.mb.ca.
Click here to make an online donation.
Our charitable registration number is 11895 5012 RR0001.
Life Insurance
Many individuals have life insurance policies that can be used to benefit charities when the insured dies or, in some cases, during the insured's life. Such policies, if left to non-charitable beneficiaries at the time of the insured's death, will, in most cases, pass free of income tax, but they will be subject to estate tax in the donor's estate, thereby reducing what these non-charitable beneficiaries receive. For this reason, life insurance policies are often excellent assets to use for charitable giving.
After a life insurance policy is set up with a charitable organization designated as the owner and beneficiary, all premiums paid on the policy are deemed to be a charitable donation and will produce a charitable donation deduction on the donor's annual income tax return. For more information, please contact the HSC Foundation office at (204) 787 2022 or hsc_foundation@hsc.mb.ca.
Click here to make an online donation.
Our charitable registration number is 11895 5012 RR0001.