Steve & Karen Potts have been supporting the CGMH Foundation for more than two decades.
When we asked what inspired them to make their first donation twenty some years ago, they both said they thought it was the right thing to do. Karen has also volunteered for CGMH, as well as other organizations in our community, for several years. “It is important to give back and contribute. It feels good to do that,” says Karen.
“Having been a supporter of the Foundation for all these years, we have learned that the majority of equipment we see in the hospital is funded by donations. We sometimes have the misconception that the government pays for it all. But the reality is that if it weren’t for donations, the hospital wouldn’t have all the tools they need to diagnose & treat patients. I wish more people knew about that,” shares Steve.
Despite what you might believe, the Government does not fully fund healthcare in Ontario. At the Collingwood General & Marine Hospital, over 90% of all medical equipment & technology is funded through community support of our Foundation. Our caring and generous community ensures that our healthcare teams can continue to deliver fast, accurate diagnosis and exceptional care.
Small hospitals and larger tertiary care centres have different funding formulas which often allows them to buy a lot of their equipment and technology through their operating budget. Although funding is improving for medium sized hospitals, the government’s requirement for hospitals to balance their operational budgets, along with ongoing cost increases, means that operational funding just isn’t sufficient to cover equipment and technology too.
The Potts’ latest donation was done this September, via transfer of securities. They were happy to know that making gifts this way was a possibility. Donating publicly traded stocks can be a very tax efficient way to support charities and eliminate tax on the capital gain.
As their donations to the CGMH Foundation reach the $50,000 milestone, Steve & Karen have also taken the time to reflect back on their family members. “We make these gifts in memory of my parents Fred & Jeanette Potts, and my late brother Michael,” says Steve.
They also give back in honour of their ancestors, John and Martha Potts and descendants, who settled in Collingwood in the 1800s. “They have contributed to the growth of Collingwood since its founding, and I think it is important to continue the tradition of supporting our community,” concludes Steve.
To learn more about how to donate publicly traded stocks click here.
Or, for more information about donating securities now or in your estate contact Jory Pritchard-Kerr at 705-444-8645 or [email protected]