Giving for the Future
Build Your Philanthropic Vision.
A Gift for the Future
Making a future gift to the KGH Foundation is a powerful way to ensure world-class health care remains accessible right here in our community. Your gift will fund life saving equipment, cutting edge technology, and specialized care, helping future patients receive the best possible treatment close to home. Your generosity will change lives in ways you may never see but will always be felt, whether it’s a newborn’s first breath or a loved one’s last.
Since 1978, the KGH Foundation has been a trusted steward of community generosity like yours, funding breakthrough medical advancements at Kelowna General Hospital (KGH), while also supporting vital community health initiatives and partnerships. Your gift is healing.
WAYS TO GIVE
Your Future Impact
Committing to a future gift for the Kelowna General Hospital Foundation unlocks special feelings tied to your whole life and what you value most. We are pleased to ensure that your giving will strengthen our hospital and the health of our community for generations to come.
To make a greater impact at a future time, we invite you to share your charitable vision and sense of purpose with us and to learn more about giving options that are relevant for your circumstances and wishes.
Let’s explore available opportunities and find out how your goals can be realized to strengthen health care across our region for future generations.
Contact a Foundation team member to learn about our current campaigns and priorities.
Resources
Curious about your options? There are a multitude of ways to give strategically:
LASTING IMPACT
Your Legacy of Care
Consider how you would like to be remembered through your legacy. What is important to you in your life, and how will your estate planning reflect your interest and values?
Contact your financial advisor or lawyer to start preparing your will, or to add a simple amendment to your existing will. Professional advice will also help you maximize the tax advantages of your gift.
If you feel comfortable sharing your legacy gift, please contact the KGH Foundation. We’d like to thank you for your generosity with the opportunity to have a personalized engraved leaf on our legacy tree and include your name annually in our Impact Report as an inspiration to others.
Why Future Gifts Matter
A future gift you plan for KGH Foundation will support compassionate care, while enabling medical advances.
An Enduring Imprint
When you establish a meaningful legacy, you reflect your values and leave a lasting mark that will be remembered. Your decision to support KGH demonstrates your desire to make a positive social impact and enhance health care for others. For many, involving family members in the planning process and sharing the reasons for their choices, helps inspire and instill a sense of giving in loved ones.
Community Impact
For over four decades, donors like you have trusted the KGH Foundation to support the future of KGH, and advance the well-being and health care available to everyone who calls the southern interior home. Your charitable bequest to the KGH Foundation will foster a thriving and robust health care system, which is essential for the vitality of our burgeoning community.
Financial Comfort Zone
Your vision is what counts. Anyone who makes a will can include a gift to charities they care about. Legacy giving is inclusive and accessible for people of all means, and it doesn’t impact your everyday cash flow. Larger gifts can create transformative change and have a profound impact, yet many more donors help in modest ways. And all together, the ripple effect is substantial. No matter what your situation, you can select from many options for the opportunity to make a legacy gift that best suits you.
Directing Your Future Gift
Many donors are grateful patients who want to ensure that others can receive the best level of care and express the difference KGH has made in their own lives. Legacy donors can choose to designate for KGH’s “priority needs” to fund urgent projects and equipment most needed at the time of the gift or to specify one or more areas of care that are personally meaningful. Please contact our office – we are happy to assist you with this decision.
LEAVING A LEGACY
How to Leave a Gift In Your Will
To include a bequest to the Kelowna General Hospital Foundation, the following wording will ensure your wishes are carried out.
Options:
- I give to the Kelowna General Hospital Foundation, the sum of ($ amount).
- I give all (or a specific percentage or shares) of the residue of my estate to the Kelowna General Hospital Foundation.
- I give (insert a specific sum, all or a portion of the residue of my estate) to the Kelowna General Hospital Foundation to be used for a purpose related or benefit to (insert specific purpose).
It is essential that you include the correct name and address:
KGH Foundation 2268 Pandosy Street, Kelowna BC V1Y 1T2
Charitable Registration #11897 8733 RR0001
For information or if you have any questions, please contact: Robert Hamanishi, Director of Planned Giving, (250)-862-4300 ext. 27011
How to Leave a Gift Outside of Your Will
Registered funds: a smart legacy gift.
As a BC resident, when you name a charity as the beneficiary of a registered account, like a RRIF or TFSA, the gift will not be part of your estate and will not be subject to probate. The proceeds will be paid directly to the Foundation by the trustee of the account.
- Your estate gains a donation tax receipt for the full amount of the gift.
- There are no probate fees, and your estate’s overall probate fees are reduced.
- Your executor’s work is lessened.
- As a gift to charity, this bequest remains confidential and is not contestable.
Non-Registered Accounts
Many people worry that the capital gains on their investments will cause a big tax bill for their estate and lessen what they will leave for loved ones. Naming KGH Foundation as a beneficiary can help your heirs while also building a positive future for health care in our community.
Non-registered accounts are taxable investment accounts that contain publicly traded securities. Pension plans: Some pension providers, such as certain provincial pension plans, allow you to name a charity as a non-person beneficiary.
Benefits of Naming the KGH Foundation
Naming the Foundation directly as the beneficiary of your account has several advantages over naming them in your will:
- You support a cause you love.
- Your estate receives the donation tax credit.
- KGHF will receive the full value of the gift and, if you tell us, your gift can be designated to help an area of care that is special to you.
- Probate reduction: Probate is bypassed when the account is not part of your will. This reduces or avoids probate fees, which are fees charged on the value of the assets passed through a will.
- Privacy and Speed: Direct beneficiary designations are not public unless you pre-arrange recognition with KGHF. They are also paid out much faster than gifts made through a will, which can be delayed by the estate administration process.
How to Name the KGH Foundation as a Beneficiary
- Check with the holder of your non-registered account or pension plan to ensure they will allow you to name KGHF as a beneficiary. If yes, the process is typically simple and straightforward. Your advisor will complete the paperwork for you to sign.
- To ensure your donation is directed correctly, provide them with this information:
KGH Foundation, 2268 Pandosy Street, Kelowna, BC V1Y 1T2
Registered charity #11897-8733-RR0001
ADDITIONAL INFORMATION
Future Giving FAQ’s
Yes, estate planning helps Canadians to support both loved ones and the causes they care about. Legacy giving has significant advantages and tax benefits that professional advisors can share with you. For example, did you know that when you donate appreciated assets like stocks, certain real estate, and other investments, your estate will not pay tax on the accrued capital gains and the charitable receipt will be for 100% of the full value? If you have specific amounts you want to leave to your family and friends, you can name the KGH Foundation as a residual beneficiary. This way, your family and friends receive their gifts first and any remaining money will be your gift to the Foundation.
Estate gifts are future gifts, and only given after you pass away. They are made from whatever is left in your estate, so do not affect the money you need to live on now or in retirement. When you take account of all your assets, you may be very surprised. Giving to charity actually opens up possibilities that more people should consider.
It is best to have a will in place. Without a will, your estate will be settled according to provincial laws without regard for your wishes. Legacy giving will be covered by the terms you set out in your will, and this way you can be certain we will receive your gift. There are a few exceptions of assets that can designate charitable beneficiaries outside of your will (thereby avoiding probate and making less work for your executor). These include insurance policies, trusts, and registered accounts like TFSAs, RRIFs and RRSPs, and donor advised funds. The host financial institution has you sign a beneficiary form, and upon your death, the account is closed and the proceeds are issued to the charity or charities you have named. Once the funds are received, a charitable tax receipt is issued for your estate.
The KGH Foundation respects and honours all requests for anonymity. It is, however, very helpful for us to know of your intention to make a legacy gift in advance. When we know, we can be certain that we will eventually receive your legacy gift after your passing. Then we can truly honour your philanthropic vision. Even though you will remain anonymous, your impact will on KGH and our community endure.
IN COMMUNITY
Her Last Wish, My Greatest Honour
When Nancy Green passed away, her close friend OJ Taylor held the role of Executor for her will. OJ shared the meaningful experience with us.
Philanthropy & Taxes
Tax expert Jay Goodis shares opportunities for philanthropic Canadians created by the change to the capital gains inclusion rate.
Donor Advised Funds
The Johnson’s chose to make their gift in perpetuity as it spoke to their fundamental desire to help as many people as possible.