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Donation Types
Our staff are here to help match your needs and requirements to a specific donation type:
Or to learn more about how your money helps click here.
Learn more on how Annual Giving Programs support our priorities.
Planned Giving very simply is planning to make a gift. They are a very individual decision. By giving this way, you can continue your support to the Caritas Hospitals Foundation as part of your legacy and be forever remembered. A planned gift consists of accumulated resources or assets of your choice and varies greatly for each individual. Your estate can maximize on the tax benefits that come by making this kind of gift to the Caritas Hospitals Foundation.
Endowment is a transfer of money or property donated to a charity, usually with the stipulation that it be invested, and the principal remain intact in perpetuity or for a defined time period. This allows the donation to have an impact over a longer period of time than if it were spent all at once.
Major Gifts are defined by Caritas Hospitals Foundation as gifts that are $5,000 and over that are not a planned gift or an endowment.
Annual/General Gifts are defined by Caritas Hospitals Foundation as gifts that are under $5,000.
Gift In Kind is a non-monetary donation. They are usually gifts of property other than cash (i.e. cheques and Credit card payments) and marketable securities. Gifts-In-Kind include gifts of supplies, equipment and artwork, etc. They also must be approved by a Foundation Staff member before they are accepted.
Gifts-In-Kind eligible for tax receipt
The following requirements must be met:
- the gift is of value to Caritas Hospitals Foundation or the Hospital Sites that we support.
- an independent appraisal has been made of the fair market value of the gift
- or a bill of sale accompanies the donation
Gifts-In-Kind NOT ELIGIBLE for tax receipt
The following gifts-in-kind do not qualify as charitable donation under the Income Tax Act:
- gifts of professional or personal services of an individual
- gifts by a company of its principal product or service. Such gifts are considered promotional expenses rather than charitable donations under the Income Tax Act.
- donations of old clothes, home baking, books, etc.
- a payment for a lottery ticket or other chance to win a prize is not a gift
The date that legal ownership of the property is transferred from the donor to the Foundation, which in the majority of cases is the date of physical delivery of the gift-in-kind.
Appraisals for income tax purposes should be made by a qualified appraiser not associated with the donor or the Foundation. It is the donor’s responsibility to ensure the gift-in-kind is appraised.
Determining the fair market value (FMV) is not a simple process. Numerous facts regarding the property must be considered. One or more appraisals to establish the FMV may be required. Consideration must be given to numerous facts regarding the property. The appraised FMV can be used to calculate the eligible amount of the gift unless the deemed FMV rules apply. See CRA publication P113(E) Rev. 07.
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