that gives back
Gifts of Charitable Annuities
This allows you to make a gift to the University Hospital Foundation, while at the same time securing guaranteed income for life. A portion of your donation will be used to purchase a commercial annuity from an insurance company that will pay the amount promised to you. While you receive guaranteed income for the rest of your life, the University Hospital Foundation retains the balance of your gift to fund the highest priority healthcare needs at the University of Alberta Hospital.
How does a Charitable Gift Annuity work?
Charitable Gift Annuities (CGAs) work the same way as regular commercial annuities, but offer even more advantages because of UHF’s tax-free status.
An annuity consists of two parts:
- An upfront immediate gift to the University Hospital Foundation, for which you will receive an immediate donation receipt
- A tax-preferred stream of annual income to you and your surviving partner, guaranteed for life.
The annuity will provide you with guaranteed income for life and helps secure the University Hospital Foundation’s ability to continue it’s life-saving mission far into the future.
The Lifeso's Story
When he was 43, Michael Lifeso had a heart attack. Shortly after his recovery, his lungs began to fail – eventually to the point where they stopped working. His parents, Clayton and Betty, were told their son did not have long to live.