Planned Giving

As a donor, you play a key role in enabling St. Paul’s to deliver world-leading care, research and medical teaching that benefits people throughout British Columbia and around the world.

Ways to Give

Annuities

A charitable gift annuity allows you to take a sum of money and use it to purchase an annuity that will generate an income for you the rest of your life, while the remainder goes to St. Paul’s Hospital Foundation as a gift. Often the gift annuity can be set up in such way that the income you receive is greater than the returns you currently see from this investment.

Benefits of setting up an annuity include:

  • Guaranteed, secure income for life.
  • You are entitled to a donation receipt that can be used to reduce your taxes.

Life insurance

A gift of life insurance can be your opportunity to make a major gift for relatively little cost and can also offer immediate tax savings and ensure that your entire estate passes directly to your heirs and your favourite charity.

Benefits of making a gift of life insurance

Any death benefits paid directly to St. Paul’s Hospital Foundation of Vancouver (our legal name) under the policy will entitle the donor’s estate to a donation receipt, which can help you:

  • Avoid probate taxes
  • Minimize the risk of creditor claims against the estate

How to make a gift of life insurance

Types of gift

  • Existing life insurance policy – You can designate St. Paul’s Hospital Foundation of Vancouver as the owner and beneficiary of an existing policy that you no longer need. You’ll receive a charitable receipt for its cash surrender value. If premiums still need to be paid on the policy, you will receive a charitable donation receipt for all payments made after the policy is assigned to the Foundation.
  • New life insurance policy – You can also purchase a new life insurance policy and designate St. Paul’s Hospital Foundation of Vancouver as the owner and beneficiary. In doing so, you will receive charitable donation receipts for the full amount of all annual premiums paid.

To learn more about making a charitable gift of life insurance, please consult your insurance broker, tax or financial advisor or contact us using the information below.

Informing us of your intent

To inform us of your gift to make a gift of life insurance, please complete our Planned Gift Confirmation Form (154 kB PDF) or contact:

Karen Brown
Manager, Planned Giving
St. Paul’s Hospital Foundation
604-806-8271
kbrown@providencehealth.bc.ca

We respect your choice to maintain your privacy when you decide to make St. Paul’s the beneficiary of a life insurance policy. However, if you decide to inform us of your intent to make a gift in this form, please know that you are entitled to be recognized as a member of the Caring for the Future Society, which lists individuals who have made a provision in their estate plans for a future gift to St. Paul’s Hospital. To include your name with other donors or not is your choice. Either way, we thank you for your thoughtful and generous gesture.

RRSPs and RRIFs

Many Canadians are shocked to learn that the assets held in a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) become fully taxable income to one’s estate in one’s year of death (unless a beneficiary designation allows the plan to be rolled over to a spouse or dependent child).But there’s another option. By making St. Paul’s Hospital Foundation of Vancouver the direct or named beneficiary of your RRSP or RRIF, you can get a donation tax credit that will dramatically reduce or eliminate your tax liability.

Benefits of making a gift of RRSPs or RRIFs

If you name St. Paul’s Hospital Foundation of Vancouver (our legal name) as the direct beneficiary of a RRSP or RRIF, your estate is entitled to a donation receipt for the amount paid out on death. As this asset passes directly to the foundation, probate taxes can be avoided and the risk of creditor claims can be minimized.

How to make a gift of RRSPs or RRIFs

To donate RRSPs or RRIFs, you simply need to visit your financial advisor or financial institution and ask them to change the beneficiary designation to St. Paul’s Hospital Foundation of Vancouver.

If you are interested in learning more about making a gift of a RRSP or RRIF, please consult your financial advisor or contact us by using the information below.

Informing us of your intent

To inform us of your intent to make a gift of RRSP/RRIFs, please complete our Planned Gift Confirmation Form (154 kB PDF) or contact:

Karen Brown
Manager, Planned Giving
St. Paul’s Hospital Foundation
604-806-8271
kbrown@providencehealth.bc.ca

We respect your choice to maintain your privacy when you decide to make St. Paul’s the beneficiary of a planned gift such as RRSP/RRIFs. However, if you decide to inform us of your intent to make a gift in this form, please know that you are entitled to be recognized as a member of the Caring for the Future Society, which lists individuals who have made a provision in their estate plans for a future gift to St. Paul’s Hospital. To include your name with other donors or not is your choice. Either way, we thank you for your thoughtful and generous gesture.

Securities and stock

Looking for a more cost-effective way to donate? Donating publicly listed securities (e.g., shares, bonds or units of a mutual fund trust) directly to St. Paul’s Hospital Foundation of Vancouver offers tax advantages that can make it much more cost-effective than a traditional cash donation.

Benefits of donating securities

The federal government will fully exempt the capital gains tax you would normally pay on the profits of selling publicly listed securities – as long as you donate these securities directly to a registered Canadian public charity like St. Paul’s Hospital Foundation of Vancouver.

This exemption extends your tax savings even further because you’ll still receive a charitable receipt for the full market value of the donated securities. (In the past, donors had to pay a portion of the capital gains tax when making a charitable donation of securities that had appreciated in value.)

How to give securities

Most securities are held electronically and can easily be transferred from your brokerage account to a brokerage account held by St. Paul’s Hospital Foundation of Vancouver. This transfer is normally completed in one to two days. The amount of the donation receipt is calculated using the closing price of the securities for the day they are received in St. Paul’s Hospital Foundation’s brokerage account.

To make your gift:

As always, it’s a good idea to seek professional advice from your own tax or financial advisor. If you would like to find out more and run through a tax-savings scenario, please contact us.

Trusts

Charitable remainder trusts offer you a guaranteed lifetime income and substantial, immediate tax savings – while supporting patient care, research and teaching at St. Paul’s Hospital.

How to set up a trust

You can create a charitable remainder trust by irrevocably transferring assets (usually cash) to a trust and then naming St. Paul’s Hospital Foundation of Vancouver as the recipient of these assets upon your passing.

You or another beneficiary will receive the income earned by the trust on these assets during your lifetime or the other beneficiary’s lifetime. After that time, the capital goes to St. Paul’s Hospital Foundation of Vancouver. Since the capital of the trust (the original amount you contributed) is not accessible, you are also entitled to an immediate tax receipt for the present value.

Benefits of setting up a trust

  • You are entitled to a donation receipt that can be used to reduce your taxes
  • You retain the income generated by the property
  • You are free from investment decisions
  • Probate and other estate costs can be avoided
  • As the assets pass outside of the estate, they are not normally subject to challenge

To learn more about charitable remainder trusts, consult your financial advisor or contact us.

Wills

Have you or a loved one benefited from our care? A gift in your will to St. Paul’s Hospital Foundation of Vancouver is a wonderful way to not only “give back” but also to create a lasting legacy of care that will live on to support and benefit others in the future.

Benefits of making a gift in will

  • You leave a long-term legacy for patient care, research and medical teaching at St. Paul’s
  • You make a gift without affecting your current finances
  • You create tax benefits for your heirs

How to make a gift in will

Types of gift

Your first step is to decide the type of gift you would like to make. You can make your gift by:

  • Setting aside a certain dollar amount
  • Designating a percentage of the residue of your estate (the remainder of the estate once all designated gifts have been made and administrative expenses and taxes have been paid)
  • Bequeathing a specific piece of property like a home, securities (for instance, stocks or mutual funds) or other financial asset

Useful phrases

Once you decide what form your gift will take, your next step is to prepare a will or codicil and include a phrase about your intention to make a gift.

When stating your intent, please be specific in naming us as the beneficiary of your gift by:

  • Using our full legal name, “St. Paul’s Hospital Foundation of Vancouver”
  • Including our charitable registration number “11925 7939 RR0001”

Here are some phrases that may be useful in stating your intent:

  • Bequests of a certain dollar amount: “I give to St. Paul’s Hospital Foundation of Vancouver the sum of $______ from my estate to be used for the greatest needs of the hospital.”
  • Bequests of a percentage of the residue of your estate: “I give to St. Paul’s Hospital Foundation of Vancouver ______% of the residue of my estate to be used for the greatest needs of the hospital.”

Here are some phrases that may be useful if you would like to designate your gift to a specific department or project at the hospital:

  • Statement of intent: “I give to St. Paul’s Hospital Foundation of Vancouver ______% of the residue of my estate to be designated for______________________.”

As funding needs for departments or projects change over time, we recommend you include a paragraph stating:

  • Power to vary clause: “If in the opinion of the Board of Directors of St. Paul’s Hospital Foundation of Vancouver, it should become impossible, inadvisable or impractical to use this gift for the specified purposes indicated in my will, then the Board may in their discretion use the gift to the best advantage of St. Paul’s Hospital, keeping in mind my original wishes.”

Informing us of your intent

To inform us of your intent to make a gift in will, please complete our Planned Gift Confirmation Form (154 kB PDF) or contact:

Karen Brown
Manager, Planned Giving
St. Paul’s Hospital Foundation
604-806-8271
kbrown@providencehealth.bc.ca

We respect your choice to maintain your privacy when you decide to make St. Paul’s the beneficiary of a planned gift such as a gift in will. However, if you decide to inform us of your intent to make a gift in this form, please know that you are entitled to be recognized as a member of the Caring for the Future Society, which lists individuals who have made a provision in their estate plans for a future gift to St. Paul’s Hospital. To include your name with other donors or not is your choice. Either way, we thank you for your thoughtful and generous gesture.

Caring for the Future Society

The Caring for the Future Society honours people who have made a provision in their estate plans for a future gift to St. Paul’s Hospital. We thank them for their ongoing commitment and for choosing to make this important gift to St. Paul’s Hospital.

St. Paul's Hospital Foundation

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