Article written by Keith Pavo, RBC Dominion Securities Inc. and RUH Foundation Legacy Giving Advisory Committee member.
Canadians are known worldwide as compassionate people, who give generously to charities and humanitarian organizations. Have you ever wished there was a way to leverage the value of your donations to a charity?
These days, many individuals are looking beyond cash gifts to find other mechanisms to help them have an even larger impact on the charities that they love and are committed to. If you could magnify the value of your cash gift today, would you consider this option?
Take Maria, who is committed to providing $10,000 this year to one of her favorite charities (see accompanying chart). The charity discusses with her another new option to simply making this donation by cheque, one that can provide significantly more resources to the charity.
(*Assumes that Marie, currently age 60, passes away age 90)
This new option is an exciting life insurance product that allows a one-time contribution to the charity, with the same donation receipts as before, but with a simple, straight-forward Life Insurance Policy. The Policy can either provide income to the charity, or more insurance to magnify the original gift. It is the first time an insurance product has been designed solely for charitable giving.
Whether you’re donating time or money, you’re giving because you have a desire to help charities that are important to you. This way of giving gives you the opportunity to make an impact on your charitable giving today and it will make an even larger impact for patients at Royal University Hospital in the future.
As you consider supporting RUH Foundation, be sure to discuss your legacy giving options or any other significant tax planning with your financial advisor or lawyer. For more information about planned or legacy giving to RUH Foundation, please contact Candace Boersma, Legacy Gifts and Donor Relations Officer at 306.655.6501 or candace.boersma@ruhf.org.
Read more inspiring stories in our Spring 2024 Milestones or make your donation now.
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