For Professional Advisors

NEW pictureCAGP has compiled the recent WealthProfessional.ca series, 10 Weeks/10 Ways, into an eBook. The articles build on CAGP’s 2014 study, The Philanthropic Conversation, and provide an array of facts, insights, and advice for professional financial advisors.

This information explains how you and your clients can help to preserve our hospital’s ongoing efforts to provide excellence in health care to residents of Langley and surrounding areas.

Click here to download your free copy!

 

In the context of our role as a fundraising organization, Langley Memorial Hospital onhealthy hydrocodone Foundation recommends our donors to seek the advice and counsel of professional advisors who can provide them with necessary information and giving options when they want to make a substantial gift. We realize the importance of establishing partnerships and developing relationships with our professional advisors.

ANSWERS TO COMMONLY ASKED QUESTIONS

  1. What is the official name to be used when donating to the Hospital?

Langley Memorial Hospital Foundation (LMHF)

  1. What is the Foundation’s charitable registration number?

The registration number is # 13389 2638 RR0001

  1. What is the role of the Foundation?

The founding and ongoing purpose of the Langley Memorial Hospital Foundation is to raise funds for the hospital. Although the government provides the basics in health care, these basics do not always cover the cost of all of our medical equipment needs or cover 100% of the costs of a special project.

  1. Tell me a little more about your Legacy Giving Program.

The three most common gifts received by the Langley Memorial Hospital Foundation’s Legacy Giving Program are bequests, gifts of life insurance and gift of shares or stocks. We encourage donors who have included the Langley Memorial Hospital Foundation in their estate planning to notify us of their intention. This allows us the opportunity to ensure that their intentions will be carried out as they wish and to recognize the donor and his/her family for their thoughtful gift.

If you would like further information about our Legacy Giving Program, please contact, Kate Ludlam, Major Gifts and Legacy Giving at (604) 514-6043 or kate.ludlam@fraserhealth.ca

All discussions will be confidential and are without obligation.

Forms of Bequests

  1. Specific bequest
    1. Sum of money

      “I give to Langley Memorial Hospital Foundation the sum of (amount)…”

    2. Particular property (ies) such as real estate, stocks, bonds, jewellery, works of art, or other items. Unless the property provides a purpose to the Hospital, as determined by the Board of Directors of the Langley Memorial Hospital Foundation, it will be sold. The proceeds, less any appraisals and selling costs will be applied as per the terms of the bequest.

      “I give to Langley Memorial Hospital Foundation (description of property)…”

  2. Rest and residue of estate

    “I give to Langley Memorial Hospital Foundation all (or stated percentage) of the rest, residue, and remainder of my estate…”

  3. Contingent bequest

    “If (name/s of primary beneficiary/ies) do/es not survive me, or shall die within ninety (90) days from the date of my death, or as a result of a common disaster, then I give to Langley Memorial Hospital Foundation (describe amount of cash, property or percentage of residual estate)…”

Purpose of Bequest

There are times when a donor has specific interests in an area or program of the hospital. Below is a “purpose” clause that can be added to any of the examples of bequest language.

Unrestricted use:

“…to be used for the general purposes of Langley Memorial Hospital Foundation.”

For restricted use:

“ … to be used for _________________ (e.g. Cancer Care, Residential Care, Mental Health care).”

or

“… to be used for the ______________________ (e.g. Surgical Program, Emergency Department or education purposes).”

or

“… to be used for the purchase of medical equipment in the _________________ program (e.g. Surgical Program, Critical Care Unit).”

Power to Vary Provision

It is recommended that the following paragraph be added if the bequest is for a restricted use to grant power to vary provision.

“If, in the opinion of the Board of Directors of the Langley Memorial Hospital Foundation, it should become impossible, inadvisable, or impractical to use this gift for the specified purpose(s), then the Board may in its discretion use the gift to the best advantage of the Langley Memorial Hospital, keeping in mind the original wishes of the donor. In any such alternative application, the support provided by this bequest shall be clearly identified with the name of (name of individual).”