Ways to Give

Gifts or Property

Gifts of property include real estate, art, jewellery and other valuable items. Donors of such gifts will receive a charitable receipt for the fair market value of the gift at the time it is received.

A gift of property opens the possibility of a large gift without using liquid assets and may offer significant tax benefits either during your lifetime or to your estate in the case of a bequest. When a principal residence is donated, no taxable capital gains are triggered.

In order to issue a donation receipt for a gift of property Southlake Foundation requires the following

• A minimum of one independent appraisal with appropriate documents as well as the deed of the gift making the Foundation the irrevocable owner. (Appraisals are at the cost of the donor or the donor’s estate).
• Confirmation that the donor has clear title to the property.
• Confirmation that Southlake Foundation will receive no liability as a result of environmental conditions of the property.
• Confirmation that the donor is in no way disadvantaged by making the gift.

Benefits of gifts of property

• You or your estate receives a charitable donation receipt for fair market value as determined by an appraisal.
• The satisfaction of knowing your gift will benefit health care in the community now or in the future.

How gifts of property benefit Southlake

• Your gifts can be retained or sold with the proceeds used for current hospital needs.
• If you make a gift of property through a bequest in your will and the property is sold, the income from your gift will be invested in Southlake’s Endowment helping you to create a lasting legacy in support of health care in the community.

If you are considering a gift of property, please contact Southlake Foundation at 905-836-7333 or 1-877-457-2036 or foundation@southlakeregional.org

   The information provided is general in nature and is not intended to be a substitute for professional legal or financial advice. Southlake Regional Health Centre Foundation encourages donors to seek independent legal and/or financial planning advice.

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