Endowment Funds
Supporting health care in perpetuity
An endowment fund at the Health Care Foundation of St. John’s, Inc., can provide financial support in perpetuity to a specific health care program, or to support health research.
Endowment funds are gifts that really keep on giving. The principal amount of the funds that you donate are invested and only the interest income is used to support health care and/or health research. You have the option of naming the fund for yourself, or in honour of a loved one or someone in our community that you wish to recognize.
A named endowment fund can be started with a minimum capital gift as per the policy of the Health Care Foundation, and additional contributions to the fund can be made at any time by you, or other supporters of the fund.
An endowment fund may be created by a bequest, transfer of property, or pursuant to an insurance policy or annuity. It may be made during your lifetime or as part of your estate plan.
The tax treatment of an endowment fund donation depends on the type of gift endowed. For instance, a cash gift designated to an endowment fund for charitable purposes will receive the same tax benefits as a cash gift given outright to charity.
Additional details on establishing an endowment fund are available through the Health Care Foundation Office at (709) 777.5901.
By establishing an endowment fund, you have the satisfaction of knowing that the area of health care you wish to support will receive funding on an ongoing basis as per your wishes.
This summary is of a general nature only. It should not be construed as legal or tax advice. Readers should seek independent tax, legal and financial advice, and consult their own tax, legal and financial advisors with respect to individual circumstances.
Updated 4/14/2009
