CHARITABLE GIFT ANNUITY
Our proper legal name for making a gift is THE CANADIAN MEDICAL HALL OF FAME
Charitable Registration #14003 6914 RR0001
A Charitable Gift Annuity allows you to make a donation of cash or investments to a charity while at the same time providing you with a guaranteed fixed income for life. This option can be especially appealing to donors aged 70 or older, who wish to make a gift to the Canadian Medical Hall of Fame (CMHF) and turn their taxable interest income from savings into substantially tax-free income.
- Your donation can be used immediately to support of the mission and activities of the CMHF.
- A Charitable Gift Annuity guarantees you an income for life without any change and relieves you of investment worries.
How it works
- A minimum sum is donated to the CMHF by a single donor (or couple).
- A portion of the donation is retained by the CMHF to help support its mission and activities and a receipt for income tax purposes is issued to the donor for that amount.
- The remainder of the donation is used for the CMHF to purchase an annuity from an insurance company providing the donor with a guaranteed income.
- Your age (not health) is used to determine the amount of the regular payments you will receive. The older you are the higher the payments, and they are guaranteed for life.
Please Note: The information provided is general in nature and should not be considered as professional legal/financial planning advice. With all planned gifts, before making final decisions discuss your gift intentions with your family and seek independent professional advice to ensure your financial and philanthropic goals are considered, your tax situation reviewed and your planned gift is tailored to your personal circumstances.