Leave a Legacy

the future of care Call204-788-8458 orvisitmisericordiafoundation.com MisericordiaHealthCentreFoundation, 99CornishAvenue,Winnipeg,MBR3C1A2 Agift inyourwill isaninvestmentinthe futureofManitoba healthcare. AbequestlefttoMisericordiaHealthCentreFoundation ensuresthatyourpersonallegacywillprovidequality healthcareforfuturegenerations.Theseareafewofthe programs&servicesyourplannedgiftswouldsupport: •Long-TermCare •BuhlerEyeCareCentre •HealthLinks-InfoSanté •UrgentCare I n the past, wealthy individuals set up their own private charitable foundations to oversee the investment of donated funds and the distribution of these funds to their favourite charities through periodic grants. Setting up a private foundation can sometimes make sense if you have more than $1 million to donate. For donations of less than $1 million, setting up a private foundation may be cost prohibitive. This is due to the fact that there are legal fees to set up and because your foundation must be registered as a charity with the Canada Revenue Agency. There are also accounting costs related to annual tax reporting, and the requirement to have a board of directors or board of trustees. What if you don't have that kind of money or would prefer to simply focus on giving as well as making sure funds that would have gone to administrative costs go to charity instead? This is where a donor-advised fund becomes an excellent alternative. Companies such as Mackenzie Investments have established a charitable foundation which offers individuals and corporations the chance to set up an account called a donor- advised fund. You may also set up a donor- advised fund at select banks, community foundations or charitable foundations such as Canada Gives. Why use a donor-advised fund? Think about how many donations you make each year and consider whether you think about each donation ahead of time, or simply react when someone asks for support. A donor- advised fund can help you strategically plan the way you give to charities. You receive a single charitable receipt for your total annual donations to your donor-advised fund. You can donate cash, publicly-listed securities or life insurance policies. You are free to choose the name for your donor-advised fund — for instance, "the John Doe Family Foundation" — and can choose the investments for your fund. Your donor-advised fund grows tax- free and may grow over time allowing you to give more than your original donation. A donor-advised fund may be managed in a fashion similar to an endowment by choosing to grant a fixed percentage each year. You can change the charities you grant to if you wish, or leave standing instructions that will be followed by the administrators of the foundation. You won't have to worry about writing cheques, as that will be done for you. Even better, while "thank you" letters addressed to your foundation by receiving charities are forwarded to you (if you wish), solicitations for additional dollars won't flood your mailbox. Any donation to your donor-advised fund will produce a donation tax receipt for you. However, the annual grants do not produce receipts, as these payments are charity-to- charity payments. This simplifies your tax reporting — one receipt for your donation to your foundation, not a number of receipts you have to track from individual charities. Many Canadians are turning to donor- advised funds as a great option for their charitable support. A donor-advised account can be set up during your lifetime or under your will. They receive the same donation tax receipt and recognition that a private foundation would have, at a potentially lower cost and significantly less of a time commitment. Donor-advised funds are a great way for people to donate over the long-term. They also are a great way to incorporate charitable giving into the next generation. ❚ Donor-advised funds simplify legacy giving Many Canadians are looking for ways to give back to their communities through charitable giving. One option is to set up a donor-advised charitable foundation.

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