For more info
Cité de la Santé Foundation recently joined WILL POWER, a platform with great resources on planned giving. Visit their website for all details.
For any further question, please reach out : Ms Samira Gouzi,, Philanthropic Development Director at 450 975-5448 or by email: sgouzi@fondationcitedelasante.com.
Note : Informations provided here (in French only, for the moment) are valid in function of legislation dated March 2017. It is always safe to discuss and verify recent updates with your Fiscal Expert.
M. André Bannon FCPA, FCA
Consultant and mentor of young entrepreneurs, retired partner of Deloitte
As you probably know, Foundations must make sure to protect their sustainability and that of the organizations they support. As summarized by the Canadian Association of Gift Planners, a planned gift is the culmination of a process of planning charitable giving, immediate or future, which reflects the donor's expressed desires and philanthropic goals and takes account of his personal, family and fiscal context.
The major gifts and planned gifts program allows donors to contribute during their lifetime or after their death, according to their financial capacities, and in order to support the Foundation in the pursuit of its mission, namely to contribute to the improvement care and services from the CISSS de Laval.
Me Odette Charbonneau
Notary
The testamentary bequest is certainly the best known and most widespread type of planned gift. This is a donation that allows you to support the Cité de la Santé Foundation after your death, while preserving the heritage you wish to leave to your heirs.
Types :
- Particular Bequest
- Residual Bequest
- Universal Bequest
- Conditional Bequest
Main advantages :
- A receipt will be issued for tax purposes. It can be used when settling the estate, thus allowing you to benefit from often considerable tax advantages.
- You are protecting your heirs while making an important philanthropic gesture.
- You can change your donation intention at any time.
In addition to a financial legacy, you are leaving a legacy for future generations that reflects your convictions and your desire to make a difference.
Manon Robert
Founding President of CATENA Financial Solutions Inc. / Financial security advisor, insurance and group annuity advisor, mutual fund representative registered with MICA Capital inc.
Donating through a life insurance policy is, because of its significant financial benefits, an affordable way to make a substantial gift.
Donation types :
- Gift of an existing life insurance policy
- Donation of a new life insurance policy
- Designation of the Cité de la Santé Foundation as beneficiary of life insurance
- Designation of the Cité de la Santé Foundation as the second beneficiary of a life insurance policy
Main advantages :
- You can take advantage of tax savings now.
- This type of donation does not incur probate fees in Quebec, nor delays in settlements.
- All policy proceeds are payable to the Foundation upon expiry or upon your death.
- You can plan, schedule and announce the donation yourself, and thus ensure that it will be disbursed as intended.
- Unlike a will, such a gift is not found in public records and therefore cannot be contested.
M. Pasquale d’Ambrosio
Investment Advisor, Vice President, Laurentian Bank Securities
A donation of titles allows you to donate more than the value of the proceed of their sale. This is an attractive option for people who want to make a gift without having to touch their cash flow.
Types :
- Securities listed on prescribed stock exchanges
- Mutual funds
Key Benefits :
- You are exempt from capital gains rules
- You are not required to include the realized capital gain in your income.
- You receive a tax receipt for the fair market value of the securities at the time of donation.
Christian Provencher, CPA, CA
Partner at Deloitte, tax specialist, private company services and market leader in Laval
When you are the owner of a management company, giving through it can prove to be an effective formula for you, for the beneficiary organization, as well as for your shareholders.
Types :
- Title Donations
- Donations by life insurance policy
Main advantages :
- You get a tax receipt for the amount of the fair market value of the securities or the death benefit related to the life insurance policy.
- You increase the amount of your capital dividend account by the amount corresponding to the untaxed capital gain when donating your securities or your life insurance policy.
- You do not have to pay any tax on the capital gain realized by donating your securities
- You are making an important philanthropic gesture, while promoting a bonus payment to your shareholders.