Today's gifts making a difference tomorrow....
Most of us, if given the chance, would like to leave a lasting legacy to show that our lives have made a difference in the world and that, in some way we have contributed to an important cause to benefit others for generations to come. In the past, only a fortunate few could create such legacies. But today, with new ways of giving, many of us can now participate in the "legacy journey" and experience the deep satisfaction of being able to make a difference in the lives of future generations.
When you combine charitable giving with financial and estate planning you are able to make a more substantial gift. This process - called planned or 'legacy' giving - is especially attractive to those who want to give more while enjoying greater tax and financial benefits. As a "legacy" donor you will be able to save taxes, increase income or provide support for a loved one as well as have the opportunity to provide vital funds to ensure NHRMC is able to keep up with the latest technology and treatment well into the future.
Twenty years ago, it was difficult to imagine that robotics, genomics and nuclear-medicine would be an everyday part of healthcare. So, what will healthcare look like in 20 years and how will it impact our patients? With support provided today from legacy gift donors we will have the funds in the future needed to purchase the most advanced technology, equipment for our patients.
The Beacon Society was created to gratefully acknowledge the generosity of donors who share the NHRMC Foundation mission to support the future New Hanover Regional Medical Center by creating a legacy gift that will provide funds for special projects, capital needs, technology, nursing education and exceptional patient care.
Beacon Society Membership
The vision of New Hanover Regional Medical Center is to be the very best provider of comprehensive healthcare delivered with dignity, compassion, value and respect. The New Hanover Regional Medical Center Foundation exists to provide philanthropic support to realize that vision and provide for funding for special projects, equipment and technology that would not be impossible to fund from the hospital's budget alone. All contributions to the Foundation directly support NHRMC and its capacity to care for the residents of our community regardless of a person's ability to pay.
The Beacon Society is open to anyone who makes a planned or legacy gift or permanent endowment to benefit the New Hanover Regional Medical Center Foundation. Through a planned or legacy gift, you can become one of the special members of the Beacon Society that will enable us to continue to support NHRMC and together we can make a difference in the lives of people for generations to come. If you have included the New Hanover Regional Medical Center Foundation in your estate plans, please complete a Estate Intention Form or contact us. It will be an honor to recognize you as part of the Beacon Society. If you so desire, you may remain anonymous. Listed below are the many Ways To Give a legacy gift or a permanent endowment and qualify as a member of the Beacon Society.
Benefits of Membership
Although most donors want nothing in return for their generosity, by allowing us to recognize your commitment, it may inspire others to follow the example you have set. As a member of the Beacon Society you will be recognized in several meaningful ways:
- Permanent recognition on the Foundation's Beacon Society Donor Wall
- Invitation to Beacon Society annual recognition event for members only
- Receipt of the Foundation's Gift Planning newsletter and Thank You Notes newsletter
- Invitations to NHRMC community events
- Upon admission, a special 'hospital essentials basket' delivered personally by a Foundation staff member or hospital administrator
- Discounts at NHRMC Gift Shops and dining areas
- And perhaps the most important benefit, the satisfaction of knowing your Legacy Gift or endowment will help make a difference in the future of NHRMC, one of our community's most precious assets.
Ways to Give
The following are some Legacy Gifts opportunities for you to consider as you plan your financial and charitable affairs.
- Gifts of Cash are the most convenient method of giving to or establishing a permanent endowment fund. The cost of making a gift is reduced because of the income tax deduction for those who itemize.
- Gifts of Appreciated Assets such as appreciated securities, bonds or mutual fund shares are an excellent way to provide a gift and maximize your tax savings. In addition to the tax savings, a gift of assets avoids the long-term capital gains tax on the appreciated value.
- Gifts of Real Estate such as a personal residence, a farm, a vacation home, commercial building or undeveloped land may be given in whole or in part using various tax-advantaged methods.
- Bargain Sale of real estate is accomplished when a donor sells property to the Foundation for less than the fair market value. The donor recovers part of the value of the property and may deduct the difference between the sale price and the fair market value as a charitable gift. This gift plan is helpful to both the Foundation and the donor in the right circumstances.
- Life Estate in a Home or Farm is an attractive gift option that enables a donor to transfer personal property to the Foundation, generating financial and tax benefits, while retaining the right to use the property for a specified term, generally for the remainder of the donor's life and/or the life of a spouse.
Life Income Arrangements
Life income gifts allow donors to give and also receive payments for life. Life income arrangements can benefit the donor, a spouse or other beneficiary.
- A Charitable Gift Annuity is a contract between the donor and the Foundation which provides fixed guaranteed lifetime payments to the donor and/or another beneficiary in an amount greater than most certificates or deposit. There are three annuity plans available: immediate payment, deferred payment or variable deferred payment plan. (The minimum for a gift annuity is $10,000.)
- Charitable Remainder Trusts are individually designed trust arrangements which pay a fixed or variable income to the donor and/or other beneficiaries. Many different assets can be transferred to charitable trusts such as cash, stock, mutual fund shares or property interests. A trust may be managed by the Foundation or a bank, trust or investment company chosen by the donor.
- Charitable Lead Trusts are used by individuals when they wish to support a charity with payments over a specified period of time but have the principal of the trust revert back to the donor or to the donor's family.
Deciding how to divide your assets or your life's work among family, friends and charity is a matter of the heart. Bequests may be made as a specific dollar amount or item of personal property; a specific percentage of estate assets; a specific percentage of the residuum of an estate after other bequests have been made; or, a contingent bequest of a set amount or a percentage should the original beneficiary conditions fail to materialize.
Individuals hold assets in many ways and beneficiary designations of life insurance or retirement plans offer an easy vehicle for supporting the Foundation. IRA, Keogh, 401k or 403b accounts among other retirement plans each have beneficiary designation change forms available at no cost to the donor.
- Life Insurance policies make a wonderful gift when a policy is no longer needed, the financial significance of the policy has changed, or you do not wish to continue premium payments. A gift of an existing policy results in an immediate income tax deduction. The Foundation may be made both the owner and beneficiary of the policy or just the beneficiary. The Foundation can be the primary, secondary, conditional or residual beneficiary in whole or for a part of the policy amount.
- Paid on Death or Transfer on Death is a type of account registration which directs assets to a named beneficiary which may be an individual or the Foundation. Like a bequest, the beneficiary designation may be for a specific amount or a percentage of the account.
If you wish to learn more about the many gift plans available to you through our Foundation, please contact us to schedule a personal and confidential meeting.