Ways to Give
One Time or Monthly Donations
You are enabling Eagle Ridge Hospital to make a difference in the lives of our patients, who make over 100,000 visits to our hospital each year.
With your gift, we can improve patient care. Donate Now.
Thank-you for your ongoing support and for being a champion of healthcare across the Tri-Cities. Click here to set up your Automatic Monthly Donation.
Planned & Legacy Giving
Demonstrate your philanthropic beliefs by including charitable giving in your estate plan. Planned gifts help strengthen the future of Eagle Ridge Hospital for generations to come.
You may choose to leave Eagle Ridge Hospital Foundation a sum of money, a piece of property or, another asset that can be turned into cash, or a percentage of the residue of your estate (a gift made after all other debts and bequests have been paid).
By working with your financial and legal advisors and planning your estate carefully, you can contribute to Eagle Ridge Hospital Foundation after death and eliminate significant taxes payable at death. It is important to discuss you wishes with your financial and legal advisors because charitable bequests in a Will that give too much discretion (freedom) to the executor with regard to choosing the amount of the gift may taint the gift. This means that you would have the taxable event but you many not fully utilize the tax credit.
A charitable gift that is made by an individual in a Will is deemed to have been made by the individual immediately before the individual’s death even though the transfer is not made until after the individual’s death by the individual’s personal representative. The charitable tax credit can then be claimed in the individual’s terminal year T1 tax return or in the immediately preceding year under s. 118.1(4) of the ITA. This is significant since the donation tax credit can be used to offset the tax liability resulting from the deemed disposition by the individual of his or her property on death.
Your estate may claim gifts in the year of death equal to 100 per cent of your net income.
For more information on making this type of gift, please give us a call at 604-461-3102 for further assistance.
Life insurance allows you to make a significant gift to Eagle Ridge Hospital Foundation.
Designating Eagle Ridge Hospital Foundation as the beneficiary of a policy is a wonderful way to show your support.
At the time of death, Eagle Ridge Hospital Foundation will receive the policy proceeds and your estate will receive the tax benefits.
BC residents may designate Eagle Ridge Hospital Foundation as a beneficiary under a new or existing life insurance policy. For example, an existing policy may be a good option if your family no longer requires the policy for financial stability.
For more information on making this type of gift, please give us a call at 604-461-3102 for further assistance.
In Honour or Memoriam
Have you been touched by the care given at Eagle Ridge Hospital? Recognize those who’ve played a role in your health journey or made an impact in your life with a donation in their honour. Make a gift in memory of a loved one.
Did someone at Eagle Ridge Hospital make a difference in your life? Recognize them with a donation in their honour.
Making a donation in memory of a loved one is a wonderful way to honour their life. Celebrate someone with a tribute that has the power to give back for years to come.
Public Traded Securities
Donating stocks or mutual funds is a tax- effective way to give.
Download and print this form for securities donations
As of May 2006, changes to the federal income tax regulations allow you to donate publicly-traded stocks, bonds, mutual fund units, futures and stock options to a charity and avoid 100% of the capital gains tax on the appreciated value. When you make a gift of stocks or bonds, you will receive a receipt for income tax purposes based on the value of the securities on the date received.
Generally, it is advantageous from a tax perspective for you to donate capital property with accrued capital gains directly to the Eagle Ridge Hospital Foundation than to sell the property and then donate cash. This is because a donation of capital property will increase the annual charitable donation limit by 25% of any capital gain realized on the gift.
The securities (investments) that qualify for the preferential treatment by the Income Tax Act (ITA) include a share, debt obligation or right listed on a designated stock exchange, a share of the capital stock of a mutual fund corporation, a unit of a mutual fund trust, an interest in a related segregated fund trust or a prescribed debt obligation.
The ITA contains special tax incentives for charitable gifts of prescribed securities which make it preferable to donate appreciated securities as opposed to selling the securities and donating the proceeds. Under s. 38(a.1), the inclusion rate for capital gains realized on gifts of publicly traded securities to charities is zero. That is, any gain realized on such a gift is wholly excluded from the donor’s income.
It is important to remember that the capital gains tax benefit only occurs when you make a gift of appreciated securities directly to a charity. It does not occur when you sell the securities first and donate the proceeds to charity.
RRSP or RRIF Gifts
Since February 2000, owners of Registered Retirement Savings Plans (RRSP) and Registered Retirement Investment Funds (RRIF) have been allowed to donate some or all of the proceeds to a registered charity such as Eagle Ridge Hospital Foundation. Simply designate the foundation as the beneficiary on the plan document and advise the bank or financial institution holding your retirement account of the change. You can designate any number of beneficiaries, including family and charities.
Your retirement funds are heavily taxed at death. You can offset those taxes by designating a charity as a direct beneficiary of your registered plan. Your estate will receive a tax receipt and off-setting tax benefit for the amount transferred to the charity.
A married person can designate a spouse as primary beneficiary and a charity as contingent beneficiary of a retirement plan. The proceeds of your plan will only flow to the charity after the death of your spouse.
When the plan’s assets are directly designated, they do not form part of your estate, thus avoiding probate fees. Your estate (or your spouse’s estate) receives a tax credit. All of this can be accomplished without legal documentation or expensive trust agreements. Consult your financial advisor to determine whether a gift of your RRSP or RRIF is right for you.
Charitable Remainder Trusts
A charitable remainder trust allows you to make a gift to a charity now but retain the use of the gifted asset for your lifetime, or receive the earned interest for life. You make the gift today, earn the tax benefit immediately, take the interest for a fixed period or for your lifetime, and the charity gets the asset at the end of the period or upon your death, according to your wish.
This is a frequently used deferred-giving vehicle because it entitles the settlor of the trust (you) or testator of the Will to an immediate charitable tax receipt notwithstanding the transfer of property to the charity is postponed. The property transferred to the trust will remain in the trust for the benefit of one or more income beneficiaries and then will be transferred to the charity upon the specified triggering event which is often the date of death of the last income beneficiary.
You make an irrevocable transfer of assets into a trust managed by an appointed trustee and name a charity such as Eagle Ridge Hospital Foundation as the remainder beneficiary in trust. Your financial advisor can determine whether this is a good vehicle for you to protect your future while supporting your community hospital.
By structuring gifts by way of charitable remainder trust, you receive the asset protection (both pre- and post-mortem) created by a trust, the use of the property during your lifetime if the trust is so structured, as well as the immediate tax benefit. One type of gift particularly suited to this structure is a gift of a home. The donor can retain the right to live in the home for life, but transfer the remainder interest to the charity
Make decisions about planned gifts after careful consultation with your family financial and legal advisors, to ensure that the gift you desire to give is right for you.
Consistent with our Foundation Board policy, a 20% contribution from all designated and restricted donations will support the work of Eagle Ridge Hospital Foundation. In an effort to ensure the long-term sustainability of the Foundation, the Board will routinely allocate approved costs to restricted funds with net proceeds going to the restricted purpose. When net proceeds exceed campaign goals, restricted donations will be allocated to future campaigns. Net proceeds of events go to areas of greatest need.
