Annuity
Make an immediate gift to Royal University Hospital while continuing to enjoy a guaranteed, predetermined income.
If you're concerned about the tax you're paying on interest-bearing investments, a charitable annuity may be the perfect fit for your planned gift. An annuity lets you make an immediate gift to the RUH Foundation ... while reducing your taxes and increasing your income.
Working Together to Fulfill the Promise
RUH Foundation talks with you and/or your advisors to determine the size of donation you would like to transfer to an annuity and the payment you would like to receive. The annuity can set up to provide an annual, monthly or quarterly payment.
We explore various options with financial advisors and forward this information to you. Once the donation amount, annual payment and other details have been settled, we purchase an annuity on your behalf. Cash in excess of the amount required for purchase of the annuity is retained by RUH Foundation for charitable purposes.
Annuity payments are made directly to you. Depending on your age, all or a generous portion of the payments are tax-free. You also receive a donation receipt that entitles you to an income tax credit in the year of the annuity.
No matter what happens to the financial markets, your payments will not change from year to year. The Canadian Life and Health Compensation Corporation guarantees annuity payments up to $2,000/month in the event of an insurance company failure.
Planning Tip: The amount of the annual payment you receive from the annuity depends on the size of your donation and your age. The rate is typically higher than many similar investment vehicles, such as GICs or Canada Savings Bonds. Talk to your financial advisor about the options.
For more information on planning your gift, please contact Bruce Acton, Director of Development, at 655-1984.
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