Charitable Gift Annuities
Charitable Gift Annuity allows you to make a gift to support The Children’s Hospital Foundation of Manitoba while at the same time receiving a guaranteed predetermined income for life. Income from a charitable gift annuity can have tax advantages. It is an ideal choice if you are concerned about the amount of tax that you are now paying on your interest-bearing investments. Annuities are high quality, guaranteed investments that provide regular payments to you and/or your spouse.
The Benefits to You
-
High Return – A charitable gift annuity can provide you with a higher rate of return than those available on similar investments such as guaranteed investment certificates or Canada Savings Bonds.
-
Tax-Free Income – Each payment is a blend of capital and interest - the capital portion of your payment is non-taxable. The blend is structured so you pay very little tax.
-
Insured – The Canadian Life and Health Compensation Corporation insures your payments, which guarantees annuity payments up to $2,000/month in the event of an insurance company failure.
-
Worry free – You are free from investment management concerns.
-
Flexible – You can purchase an annuity now and defer the payments to a later date.
-
Convenient – You can choose the payment structure that suits you - monthly, quarterly, annually and your payment can be deposited directly into your bank account.
-
Tailored – The Children’s Hospital Foundation of Manitoba works with financial advisors to explore the variety of options available in the marketplace and ensure that your gift is set up to meet your needs.
-
Reputable – After the details of the annuity have been decided, The Children’s Hospital Foundation of Manitoba purchases the annuity from a reputable commercial institution on your behalf.
-
Immediate Gift – A charitable gift annuity enables you to give a lump sum to The Children’s Hospital Foundation of Manitoba for immediate use.
-
Recognition – Your gift can be honoured during your lifetime.
How does it work?
A charitable gift annuity is a contractual arrangement with a commercial annuity provider. The Children’s Hospital Foundation of Manitoba works with financial advisors to explore the variety of options available in the marketplace. The following information is required to obtain quotations - your age, the annual payment amount you would like to achieve from the annuity and the lump sum you wish to transfer.
The quotations from the top annuity providers (life insurance companies) are received and discussed with you. Once the details of the annuity have been decided, you transfer the lump sum to The Children’s Hospital Foundation of Manitoba. We then purchase a prescribed annuity from a reputable commercial institution on your behalf. Cash in excess of the amount required for the purchase of the commercial annuity is retained by The Children’s Hospital Foundation of Manitoba and used for charitable purposes. Annuity payments are then made directly to you, the donor.
For further information, please call our office at 204-787-4400 or email info@goodbear.ca.
Please Seek Expert Advice: The Children’s Hospital Foundation of Manitoba recommends strongly that you seek professional advice to ensure your financial goals are considered, your tax situation is reviewed and your planned gift is tailored to your circumstances.