Planned giving

Supporting the important work done by HMR since the time you were a child, and contributing to scientific advances and the development of new treatments for still incurable diseases are just some of the causes you can continue to champion even after you’re gone.

You don’t need to be old, rich, or childless to make a planned gift to the HMR Foundation. There’s no reason why you couldn’t make a difference.

See the video

 

Bequest

A bequest is one of the simplest and easiest ways of planning a donation. Once you have ensured that your family and loved ones have been taken care of, you can choose to leave a portion of your estate to the HMR Foundation by adding a gift in your will.

Several types of bequests are available to you:

  • Specific bequest (a specific amount or a specified asset);
  • Residual bequest (all or a percentage of the remainder of the estate after the payment of debts and specific bequests);
  • Universal bequest (all of the assets, sometimes divided among many beneficiaries);
  • Designation of a charity as beneficiary of an RRSP, a pension fund or a life insurance policy.

In each case, a tax receipt will be issued for use in the donor’s final tax return, following his death. The tax benefits from charitable bequests can dramatically reduce the taxes to be paid out by the estate.

 

For further information or making a Bequest, please contact HMR Foundation at 514 252-3435.

Donation of life insurance policy

It is possible to designate a charitable organization as the beneficiary of the death benefit of an insurance policy. Here are two ways of giving without penalizing your heirs:

The insurance policy is surrendered to the HMR Foundation, which becomes the owner and beneficiary of the policy: Every year, the premium is paid by the donor directly to the insurer. The latter confirms the amount of the payment to the HMR Foundation and the Foundation issues a tax receipt for the donation. This can be used to offset your annual income tax assessment.

Designate the Foundation as beneficiary of the life insurance policy: The death benefit is received as a donation. The Foundation issues a tax receipt to the donor’s estate.  The estate can use the receipt as a 100% deductible tax credit.

Any excess amount may be applied to the year preceding the death of the insurance policy owner.

 

For further information or making a Gift of Life Insurance, please contact HMR Foundation at 514 252-3435.

Donation of RRSP and RRIF

Contrary to other planned gifts, the funds from an RRSP or RRIF do not require complex legal documents or trust agreements. In February 2000, the Canadian government implemented a simple and effective way for individuals to donate the income from registered retirement savings plans (RRSP) and registered retirement Income funds (RRIF) to charitable organizations such as the HMR Foundation.

The gift is easy to arrange: You simply change the information regarding the beneficiary on the contract and notify the institution that manages your retirement account.

Retirement funds are among the most heavily taxed assets that you own. However, when a charity is designated as a direct beneficiary of a registered plan, these taxes are offset by the tax receipt issued by the charity for the full amount being transferred.

This deferred donation is one of the most advantageous, because when plan assets are directly designated, they are not included in the estate and are not subject to probate fees. Moreover, your estate will receive a tax credit.

Donating RRSP or RRIF funds directly is an effective way of avoiding this tax liability and of preserving the value of the funds in order to contribute to the Foundation.

 

For further information or making a Gift of RRSP or RRIF, please contact HMR Foundation at 514 252-3435.

Donation of shares

Do you own shares, mutual funds, bonds and other securities and wish to donate them to the HMR Foundation?

A donation of shares allows you to avoid paying income tax on the taxable portion of your capital gains. However, in order to benefit from this tax credit, the securities must be transferred directly to the HMR Foundation without selling them. An income tax receipt for 100% of the fair market value of the securities will be issued to you on the day they are directly transferred to the HMR Foundation account. The transfer can be done electronically.

What types of securities can I donate?

  • Shares
  • Savings bonds
  • Mutual funds

 

For further information or making a Donation of Securities, please contact HMR Foundation at 514 252-3435.

Endowment Fund

An endowment fund is a contribution where the original capital is preserved in perpetuity. Only the interest generated from the capital is used for the purposes outlined by the donor.

You can set up an endowment fund now and allow the unit or department of your choice to benefit from the capitalized income of the endowment fund.

For further information or creating an Endowment Fund, please contact HMR Foundation at 514 252-3435.

For more information:

Contact Ludmila Rozmiret, our major gifts advisor