Remarks by Bull Financial president Mark Bull on the occasion of the company’s $1 million legacy gift to Lakeridge Health Foundation

Today was a big day. My company, Bull Financial, made a legacy gift of $1-million to the Foundation of Lakeridge Health, a system of five hospitals in Durham Region, in the eastern part of the GTA. It was timed for the start of May, which is Leave a Legacy Month, which we are sponsoring.

Part of the gift will go toward the highest priorities for patient care at Lakeridge Health, and part will be used to establish an endowment fund focused on cancer care. This is a blended gift: there is some money that will be donated now, for current needs, with the majority being donated after I die, which I hope is a long time from now. 

How could I afford this gift?

I simply used a greatly underused tool with special properties that greatly magnify the amount
of a gift, while saving the donor thousands, hundreds of thousands or even millions in tax. That tool is life insurance.

Many people do not realize they have the power to afford being philanthropists. They think you have to be uber wealthy, and that is simply not the case. So I am taking this opportunity to encourage others to do what I’ve done, whether for Lakeridge Health or another deserving charitable organization you care about.

I define the word “legacy” as being a long-lasting impact from a particular event or action in a
person’s life. This gift will be a very important part of the legacy I leave behind. Another part of my legacy will be the realization of my company’s vision to raise $25-million in philanthropic donations by December 31, 2028, by educating and challenging our clients and partners. 

I must give thanks to the people who helped inspire all of this. First, Lakeridge Health CEO Yves Gadler and the team at Lakeridge Health Foundation, including Steven Macdonald and Daina Robinson. It has been my honour to volunteer my support and counsel on the Foundation’s Planned Giving and Endowment Committee, and as a Cabinet member of the Foundation’s current $20-million Our Cancer Campaign.

What legacy do you have in mind? Want to learn about legally disinheriting CRA? Generally speaking, a $2 charitable gift eliminates $1 of your debt to them. You can learn more here, or let’s talk about it today.