Legacy of Giving
Leave a Legacy of Caring at PCH
People leave gifts to Prince County Hospital in their wills, or through insurance, for a variety of reasons. You make the arrangements now the hospital foundation receives this gift upon your passing. It allows you to write the last chapter in your life, if you wish, and it can also offer significant tax benefits.
With sound financial planning, gifts of this nature enable donors to enjoy a tax advantage, while making a significant difference in your community.
Prince County Hospital Foundation has developed a general information package which we would be happy to provide to you. Contact Heather Matheson for details:
A recognized financial advisor is also an appropriate source of information about legacy giving.
Some options for Leaving a Legacy of Caring at PCH include:
Endowments are sometimes referred to as “everlasting gifts”. With most types of legacy giving, setting up an endowment is an additional option. Gifts identified as endowments remain intact and only the earned interest is used by the charity.
Bequests are probably the most common form of leaving a legacy. When your estate is settled, the charitable gift stipulated in your will is forwarded to the charity you had chosen. Then, your estate is issued a charitable credit for the full value of the bequest.
Bequests can be designated for a specific purpose or can be “unrestricted”. In the latter case, the charity would place the gift toward the area of greatest need. Bequests can take the form of cash, property or securities.
Gifts of securities are gifts of publicly traded stocks, bonds or mutual funds.
Recent tax changes can mean that donors save the capital gains tax on the transaction – in addition to receiving a charitable receipt for the amount of their gift.
A significant benefit of planning a legacy through insurance policies is that you may receive tax benefits immediately. By purchasing a life insurance policy now and transferring ownership to the foundation, you will receive tax receipts for the premiums you pay each year. Or, if you have and existing policy you no longer want, you can transfer ownership to the foundation. The Foundation encourages donors to consult with their financial and legal advisors to determine the best way to make a gift.