Legacy Giving

Your decision today; your impact for all time. Welcome to the Bannatyne Legacy Circle.

About the Bannatyne Legacy Circle

The Bannatyne Legacy Circle—named in honour of Annie and Andrew Bannatyne—is a community of supporters committed to supporting HSC by endowing a final gift to the Foundation when they pass away.

As an estate gift, it is a gift for the future. As an endowed gift, it is a gift for all time.

Endowed gifts are invested and professionally managed. The income earned is distributed annually to HSC in accordance with your wishes. It will earn interest and make a difference for patients and their families in perpetuity.

Anyone can leave a legacy gift. Estate gifts come from people from all walks of life. An estate gift allows you to plan for a significant future donation without affecting your cash flow today.

There is no minimum gift, and you never have to disclose the amount in your lifetime. All endowed gifts are valuable for all time, and all gifts inspire others to give.

You can remain anonymous, or you can tell us of your intentions to leave a legacy gift and join the Bannatyne Legacy Circle.

As a member of the Bannatyne Legacy Circle, you will be celebrated for your passion and commitment to improving health care in Manitoba. You will be invited to share the story of your connection to HSC and the Foundation, and we will capture your story in a special keepsake for you to share with family and friends.

You will also receive invitations to a special annual event and other Foundation programs to see first-hand how your legacy gift will impact lives forever.

Deborah Thorlakson’s Legacy Story

Serving on the Foundation's Board for 13 years including a stint as Chair of the Marketing & Communications Committee, she was the first woman in Foundation history to serve as Board Chair.

Read her story

Why Leave a Legacy Gift?

Through your bequest, you can support the Health Sciences Centre Foundation in transformational and powerful ways.

Most legacy givers use their wills as an opportunity to support the Foundation at a level that is not possible during their lifetime. Bequests to the HSC Foundation offer important tax advantages to the estate. Most important, they can have a significant impact on health care in Manitoba.

With your bequest, you can:

  • Establish an endowment fund whose annual income can support your chosen area of patient care or medical research at Health Sciences Centre in perpetuity.
  • Establish an endowment fund whose annual income would be undesignated, allowing the Foundation to direct it every year to help meet pressing and emerging needs at the hospital.
  • Enhance an existing endowment fund that is meaningful to you.
  • Provide a designated or undesignated gift (not endowed), that can help the HSC Foundation support important work at HSC in a significant way when the gift becomes available.

You have options and flexibility. No matter how you choose to support the Foundation through your estate, you will make a significant difference and you will be remembered.

Our legacy givers come from all walks of life and make gifts of all sizes. What they share in common is a passion for Manitoba and a desire to improve health care for all.

Ways to Leave a Legacy Gift

A Gift in Your Will

Simply name the Health Sciences Centre Foundation in your Will. You can specify a dollar amount, a percentage of your total estate, or all or part of the residue of your estate. Your estate will receive a tax receipt for the amount of your gift, which can greatly reduce taxes owing. You can direct your gift to any hospital area you choose, and you may change your Will at any time.

Official Bequest Language

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A Gift of Life Insurance

Using a life insurance policy to support the HSC Foundation is a good way to make a significant contribution to the Foundation while protecting the value of your estate.

There are two different ways to use life insurance to help achieve your philanthropic goals:

a) You can name the Foundation as the policy owner and beneficiary

b) You can name the Foundation as the beneficiary (but not the owner) of the policy

Each option offers significant tax benefits to your estate, or to you during your lifetime.

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Gifts of Securities or Stocks

Donating securities or stocks to the HSC Foundation is a generous and tax-friendly way to support patient care and medical research at HSC. Such gifts can be made through your estate or in your lifetime.

The HSC Foundation will redeem securities and stocks upon receipt, generating a donation receipt for you reflecting the full market value of securities on the day the securities are received.

And when you donate securities or stocks, you avoid the capital gains tax on any appreciation your shares have experienced over time.

(Due to processing and brokerage fees, the HSC Foundation will accept a minimum securities/stock donation of $1,000. )

Securities Transfer Form

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Gifts from your RRSPs, RRIFs, Pension Plans, or TFSAs

You can support the HSC Foundation by naming the Foundation as a primary or contingency beneficiary of your Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), Pension Plan, or Tax-Free Savings Account (TFSA).

If you are not survived by a spouse and you have no dependent children—or have already made arrangements for your dependent children—leftover retirement funds are an excellent charitable gift option because the resulting tax credit will help to make up for the taxes payable on the transfer or distribution.

Using these instruments to support the Foundation can help to reduce your estate taxes and protect the value of the estate for your family.

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Gifts of Property and Real Estate

A gift of property (also called a “gift-in-kind”) refers to donations of such tangible assets as real estate, special collections, cultural property, and works of art.

Such a gift may be kept and used by the Health Sciences Centre Foundation or it may be sold. The donation receipt is issued for the fair market value of the donated property as determined by professional appraisal.

Please note that the HSC Foundation must approve a gift-in-kind before officially accepting it.

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Gifts of Charitable Remainder Trusts

A Charitable Remainder Trust (CRT) is a deferred giving arrangement under which you would transfer property (cash, appreciated securities, or real estate) to a trustee. You (and/or other beneficiaries) would retain the right to the income from the trust either for life or a specified term. The Health Sciences Centre Foundation will receive whatever remains in the trust after that specified term or after the death of the last beneficiary, whichever has been agreed to in the trust document.

Donors who establish a CRT will receive a donation receipt today for the calculated “present” value of their future gift which the HSC Foundation will receive when the trust terminates.

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Gifts of Charitable Gift Annuities

A Charitable Gift Annuity is an excellent way to increase your annual income, reduce your taxes, and help fulfill your financial and charitable goals.

A portion of your contribution to the Foundation is treated as a charitable donation for which you will get a charitable donation receipt. The balance of your contribution will be used to purchase a commercial annuity from an insurance company that will pay the amount promised to you as income for a set term or for the rest of your life.

Upon your death, any remaining funds not yet paid out to you will be directed to the Foundation.

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If you have any other questions, click the FAQ below.

FAQ

Disclaimer:

This material provides general information and is not intended to constitute or replace specific professional advice. Donors considering a legacy gift should speak to an advisor with appropriate tax and other expertise to implement a strategy that achieves their objectives.

Contact Us About Legacy Giving

Irma McKenzie
Director of Planned and Legacy Giving
P: 204-515-5624
E: hscfbannatynelegacy@hscfoundation.mb.ca

Other Resources:

Estate Planning Glossary of Terms 
Securities Transfer Form

Bannatyne Legacy Circle Celebration

Since 2018, the HSC Foundation has held a celebration to honour the incredible people who leave a legacy gift with us called the Bannatyne Legacy Circle Celebration.

2019 Bannatyne Legacy Circle Signers

Back Row L-R: Pam Sigurdson, George Sigurdson, Glen Torgerson, Jonathon Lyon, Dr. Brock Wright, Tina Jones, Don Pharoah

Front Row L-R:  Deborah Thorlakson, O.M., Tannis M. Richardson, C.M., LL.D., Monique Levesque-Pharoah

Missing: William S. Gardner, Q.C. & Diane Hoskins

Watch the video below to learn more about what it means to leave a legacy gift.