Saskatoon City Hospital Foundation Inc.
Charitable Business Number: 119140739 RR 0001
Estate advisors and professionals: Thank you for your interest in the Foundation and for doing the valuable work of guiding clients through this important and rewarding process. Here are the types of gifts your clients may consider when planning the Wills.
Specific Bequest
Designates a specific dollar amount or piece of property in the Will to City Hospital Foundation (e.g., stocks/bonds, property, works of art).
Residual Bequest
Allocates all of, or a portion of the estate to City Hospital Foundation that remains after all debts, taxes, expenses and other bequests are paid.
Contingent Bequest
Makes a provision in the Will that the gift only takes effect if the primary intention cannot be met (i.e. if the primary beneficiary and alternate beneficiaries do not live longer).
(If you want to see samples of suggested wording for naming the Foundation as a beneficiary in a will, please see the document here.)
Life Insurance Policy
Names the Foundation as the beneficiary of a policy (including a policy from your workplace). Clients might also consider signing over ownership of a policy with premiums that are fully paid. In this case, they will receive a current tax receipt for the fair market value of the policy or defer the tax receipt for their estate.
RRSPs or RRIFs
By naming the Foundation as the beneficiary of an RRSP/RRIF, clients contribute the remaining balance of these investments that exists upon their passing. Through this method they can also offset the tax that would otherwise be payable on these assets by the estate.
Charitable Remainder Trusts
This gift might suit individuals who wish to make a substantial donation with an irrevocable trust and earn immediate tax savings while receiving income from the asset’s interest for life. Upon transfer, they will receive a tax receipt for the present market value of the gift. Upon their passing, the asset is transferred to the Foundation.
Endowments
An endowment is a gift where the capital is held for a period of time. Gifts to endowment funds are required to remain in place for a minimum period of 10 years under current Canadian tax law. The income of the endowment can either be expended in total each year or can be reinvested in whole or in part. The capital and/or the income can be restricted to a particular use, such as supporting a specified department or purchasing equipment only, or can be unrestricted and used for the general purposes of the charity.
About Saskatoon City Hospital Foundation
The Foundation was established in 1983 and immediately began fundraising to support the building of the new Saskatoon City Hospital, which opened in 1993. Since then, more than $60 million has been gifted by donors to benefit patients.
Major initiatives include the creation and expansion of the Irene and Leslie Dubé Centre of Care Breast Health Centre, the Cameco MS Neuroscience Research Centre, the establishment of the Saskatchewan Multiple Sclerosis Clinical Research Chair, and the opening of the Rependa Centre. The latter, a wing of the hospital serves as classroom or meeting space for healthcare professionals and the public.
Donors have also partnered with the Foundation to bring in numerous pieces of equipment for the hospital. Some of the more recent include a $3 million CT scanner, upgrades to all 12 surgical suites in the Operating Room, and a multimillion project to modernize the Anatomical Pathology Lab.
Recognition for Your Clients
Saskatoon City Hospital Foundation loves to tell the story of donors, their motivations for giving and the aspirations for healthcare. Depending on the levels or support, the Foundation offers hospital artwork, recognition at nonprofit events, hospital tours, profiles in the Foundation magazine, social media and website posting, and advertising in local media. If you’d like to know more, please do not hesitate to contact us.
Of course, the Foundation also recognizes and supports your clients’ wishes to remain private or anonymous if they so choose. To learn more, read the Privacy Policy here.
Thank you again for considering Saskatoon City Hospital Foundation. If you have any questions, please contact:
Nicole Semko, Director of Development
Saskatoon City Hospital Foundation
306-655-8538
[email protected]