The Power of a Planned Gift
St. Thomas and Elgin County is a community where people believe passionately in the sustainable benefits of a high performing community Hospital.
Many people like to leave a gift to charity in their Will. A planned gift to the St. Thomas Elgin General Hospital (STEGH) Foundation will help keep OUR Hospital vibrant today, tomorrow and beyond. Gifts of all sizes can make a significant difference.
By including the STEGH Foundation in your Will or Estate plan, you will help ensure patient car excellence continues at our award-winning Hospital for future generations.
A planned gift can also provide valuable tax benefits and possibly an additional source of income for life.
Did you know that you can make your planned gift in honour of, or in memory of, a family member or other loved one?
A Gift in Your Will
A charitable donation made as a gift in your Will for the St. Thomas Elgin General Hospital Foundation is a highly effective way to reduce Estate taxes and may also help you make a larger gift than you ever thought possible.
Ways to include a donation in your Will:
- A specified dollar amount
- A specified percentage (or share)
- A residual gift (what’s left after you have provided for your family and other loved ones)
A Gift of Securities
A gift of publicly traded securities can generate greater tax savings for donors compared to a donation of cash following the sale of the same
By transferring the securities directly to the St. Thomas Elgin General Hospital Foundation, donors can eliminate all capital gains tax on their gift.
Gifts of publicly traded securities include:
- Mutual funds
- Other marketable securities
Other Ways to Give
A Gift of Life Insurance
A gift of life insurance can be made in several ways:
You can take out a new policy in the name of the St. Thomas Elgin General Hospital Foundation, and receive a charitable tax receipt for the cash value of the policy and any premiums you pay.
If you name the St. Thomas Elgin General Hospital Foundation as the beneficiary of an existing policy, the Foundation will receive the proceeds of the policy and your Estate will receive the tax benefits.
When you transfer ownership of an existing policy to the St. Thomas Elgin General Hospital Foundation, you will receive a charitable tax receipt for the cash value of the policy. If you continue to pay premiums on the policy, you will receive an income tax receipt each year equal to the premiums paid.
A Charitable Remainder Trust Gift
A charitable remainder trust is an irrevocable gift that you can make by transferring cash or other assets to a trustee who then holds and manages it.
If the asset is income producing, the net income is paid to the donor for the remainder of their life, or for a specific term. Ultimately, the trust will distribute an amount to the St. Thomas Elgin General Hospital Foundation.
A Residual Interest Gift
A residual interest gift is an irrevocable gift of an asset (real estate or art) that you can make now to benefit the STEGH Foundation and have the freedom to continue to enjoy the use of the asset for the remainder of your life.
You will receive an immediate income tax receipt for the appraised market value of the donated asset. A residual interest gift is a wonderful way to support the ongoing work of the STEGH Foundation by ensuring quality healthcare is available to you and others in our community.
- Allows you to make a larger gift than might otherwise have been possible
- Tax savings – an income tax receipt will be issued for the present value
- Does not impact your lifestyle – you retain usage of the asset
- Reduces probate and other estate costs
- Gives you the satisfaction of making a gift and, if desired, being recognized while living
- The privacy of your gift can be maintained, since it is not part of your Will
A Gift Annuity
A gift annuity is an irrevocable gift from capital. This type of donation may be perfect for someone over 65 because it provides an additional source of income for life, and it provides the St. Thomas Elgin General Hospital Foundation with an immediate gift.
A Residual Interest Gift
A residual interest gift is an irrevocable gift of an asset (real estate or art) that you can make now, yet have the freedom to continue to enjoy for the remainder of your life.
You will receive an income tax receipt for the appraised market value of the donated asset.
Donor Recognition Policy
Gift Acceptance Policy
Planned Giving Policy
Sample Language for a Will
St. Thomas Elgin General Hospital Foundation
189 Elm Street,
St. Thomas, ON N5R 5C4
Charitable Number: 89081 6846 RR0001
Amasa Wood Legacy Society
Amasa Wood (1811 – 1899) was raised on a farm located approximately two kilometres east of Burwell’s Corners (Talbot Settlement).
An early introduction into merchandising demonstrated his aptitude for business, and Amasa grew up to be a successful merchant and trader in Fingal. In 1850, he began a second career in securities and real estate which spanned the counties of Elgin, Kent, Norfolk, Middlesex and Huron. In his retirement in approximately 1877, Amasa moved from Fingal to St. Thomas.
In addition to his success in business, Amasa was also known for his many acts of philanthropy. He was regarded by area residents as a “fountain of kindness.” His greatest charitable work was considered to be St. Thomas’s first hospital, the Amasa Wood Hospital, which he founded and built as a gift to the citizens of St. Thomas in1892.
When you confirm your planned gift intention, you can be publicly recognized as a member of the Amasa Wood Legacy Society on the Gifts Over Time donor wall in the Atrium. (Those who do not wish to be publicly recognized can be thanked privately instead.)
As a Legacy donor, you will be invited to exclusive events that will keep you informed about the continued evolution of this exceptional award-winning facility.
Members of the Amasa Wood Legacy Society make a ‘second gift’ because their example can influence others to make the same commitment.
Request Additional Information
If you wish to contact the STEGH Foundation about a Gift in Will, a Gift of Securities, or other ways to Give, please fill out the form below and we will be in touch.