PRHF Planned Giving and Estate Donations

Estate Gifts & Planned Giving

Leaving a gift in your will to the Pembroke Regional Hospital is an opportunity for you to create stronger healthcare for tomorrow with a larger gift than perhaps you thought possible. 

Should you make the decision to leave an Estate or Planned Gift to the Pembroke Regional Hospital in your Will you will be recognized on the Donor & Tribute Wall located in the hospital lobby and honoured as a member of the Legacy Giving Circle.

COMMUNITY BENEFITS

There is always priority equipment that our Hospital and our patients can’t afford to live without. These items range from the basics – wheelchairs, beds, monitors, stretchers, weighted blankets etc., to more unique and large items like a Cardiac Monitor, Chemotherapy Pumps and Diagnostic Imaging Equipment. Over the past couple of years, the average yearly cost of replacement has seen an increase, and new medical equipment required by the hospital is on average more than $450,000. This equipment is not otherwise funded by the government and instead we rely on our community to fund these vital needs.

IMPACT

We know that when you make a donation, you want to ensure that it is being spent the way you hoped it would. At the PRH Foundation, we manage our fund raising costs wisely. When you donate to the Foundation, we promise that the gift will be used for the purpose you intended – directed to the patient care equipment or to the department you request. Your gift stays in our community and supports all those who use the services at the Pembroke Regional Hospital for their care. Your gift will make Pembroke and the surrounding communities a healthier place to live. We know that when Community helps Community, it results in a healthier and more vibrant place to raise families. Thank you for your Generosity!

HOW TO HELP

Planning ahead can make a significant difference for you, your family and our Foundation. We recommend contacting our team and then your financial advisor, lawyer and other representatives to help you make this generous and gratifying decision.

A lasting legacy that benefits an entire community

The Pembroke Regional Hospital Foundation relies on the generosity of local donors, just like you, to ensure that the most state of the art healthcare is available in our community now and for the future.  One of the most impactful ways to give back and leave your legacy on local healthcare is through Planned Giving in your Will.

Surveys indicate that the average Canadian adult does not have a will.  Without a will, this means that all your worldly wealth will be portioned out among relatives according to a formula set by the provincial law, regardless of your true wishes.  This means that none of your assets will go to support the organizations and causes that you believe in and mean the most to you.  Having an up to date will in place is so important to ensure your every wish is met after you pass away.  

There are several ways to leave a legacy through Planned Giving

  1. Gift in your will – Leave assets, such as savings, stocks and property, and receive a charitable tax receipt that can lower –or even eliminate-estate tax. 
  2. Gift of RRSP’s or RRIF – Name the Pembroke Regional Hospital Foundation as a beneficiary; you’ll offset taxes, make a meaningful gift, and protect your assets for loved ones.  
  3. Gift of life insurance – make a significant contribution to PRHF at relatively little cost to you, and receive tax benefits. 

More than ever before, we are looking to the community we serve to support our long-term growth and expansion of programs and services at PRH.  We are here to help!  

When you donate a gift of shares to our Foundation it's WIN-WIN for you and our hospital, here's why:

One of the many ways to make a donation to THE PEMBROKE REGIONAL HOSPITAL FOUNDATION is transferring your marketable securities directly to the Foundation. You save the capital gains tax on the sale of those shares and the Foundation receives the full amount of your donation. This Canada Revenue Agency statute applies to all registered Canadian charities and their donors. It’s a win/win!

Here is an example scenario to help illustrate this:

In both examples our Donor has $5,000 in current market value stocks/securities that they would like to donate to our foundation. In the first example our Donor sells their securities first (get’s taxed on the capital gain) and then donates what is left over. In the second example our Donor donates their securities to our foundation directly (being taxed nothing, $0 versus potentially up to $920) and afterwards receives AN ADDITIONAL CHARITABLE TAX CREDIT OF $2300. 

Option 01

"SELL SECURITIES FOR CASH, THEN DONATE"
$ 1876
00
Your charitable tax credit
  • $1,000: Original cost of securities
  • $5,000: Current market value
  • Capital GAIN: $4,000
  • TAXABLE Capital Gain: $2000
  • TAX* on Capital Gain: $920
  • $4,080: Donation amount after tax
  • YOUR CHARITABLE TAX CREDIT: $1,876
SCENARIO 01

Option 02

"DONATE AFTER-TAX PROCEEDS"
$ 2300
00
Your charitable tax credit
  • $1,000: Original cost of securities
  • $5,000: Current market value
  • Capital GAIN: $4,000
  • TAXABLE Capital Gain: $2000
  • TAX on Capital Gain: ZERO ($0)
  • $5,000: Donation amount after tax
  • YOUR CHARITABLE TAX CREDIT: $2,300
SCENARIO 02

After transferring marketable shares to the Foundation, you receive a charitable tax receipt for the full amount of the donation ($5000) AND a non-refundable tax credit ($2300) towards taxes otherwise payable. To realize these mutual benefits, you must transfer your securities directly to the Foundation, using our marketable securities transfer form.* As shown in the above chart, if you sell the shares first and donate cash, you lose the capital gains tax exemption and the Foundation loses those funds. All of those taxes would go to the Canada Revenue Agency. Donations of securities can be made at any time.

TIP: Talk to your broker, financial advisor, accountant or lawyer about your options and best timing for you.  Our staff are here to help answer any questions you may have about this gracious and gratuitous decision.

 

FREQUENTLY ASKED QUESTIONS

At what stage in our Estate planning should we contact you?

We are here to help you through any stage of your Planned Giving. Experience shows that contacting us earlier helps to prepare you and your family for the options and legacy ahead. Often time we will be left in Wills without even knowing, coming as a surprise to the families and our foundation; we recommend reaching out to speak with us beforehand so we can properly thank you and confirm that your legacy will be honoured. 

What benefits are there for me?

Aside from feeling good knowing that your ongoing donations are making a BIG IMPACT for our community and everyone’s access to quality healthcare close to home –you will also have your (or your loved ones) name added to our Tribute Wall, ensuring their name and legacy live on forever more. 

Where does the money go?

With the current need to upgrade or replace equipment across many departments of the hospital, continuous monthly support lets our Hospital map out a path to improving the state-of-the-art comprehensive health care offered locally. Be it knowing when the funds are available to purchase new ventilators or crash carts, or anticipating the funds required for heart monitors, monthly giving lets us build a healthier future together with methodical planning.

Other questions?

If a gift in your will feels like it might be the right choice for you, or if you’d just like some more information, we invite you to get in touch.  You’ll be under no obligation, and our conversation will remain completely confidential.   

Please contact Roger Martin, Executive Director of the PRH Foundation at 613-732-2811 ext 7408 or roger.martin@prh.email .