Forms of Planned Giving
There are many ways to leave a lasting impact on a charitable organization. Planned gifts are the best means for ensuring that your charitable wishes are fulfilled while ensuring income and stability for you and your loved ones. Here are a few examples of the options available to you:
Appreciated Securities – You don’t have to use cash to make your gift. You can donate appreciated securities instead, and use an asset that costs you less than the tax deduction you’ll receive for it. To make a transfer to the JE Foundation, please call the Foundation at 712-396-6040, or email us at [email protected] We will need the following four pieces of information to initiate your transfer: 1. Donor(s) names(s); 2. Name of stock(s) to be transferred; 3. Number of shares being transferred and; 4. Purpose of the donation (i.e. Cardiac Care Capital Campaign, greatest need, unrestricted, or to a specific fund). We will provide specific information for the transfer after we have this information so the shares received may be properly credited to the proper donor(s).
Bequests – This is the simplest type of planned gift that requires only language in an individual’s will leaving cash, property or real estate to a Jennie Edmundson organization. Bequests are revocable. If you have already established a provision in your will remembering Jennie Edmundson Hospital or Foundation, please notify us so we may invite you to join the Jennie Edmundson Legacy Society. Individuals who notify the Jennie Edmundson Foundation of their bequest intentions become members in the Jennie Edmundson Legacy Society and receive acknowledgement on the Foundations Donor Wall located in the Hospitals main hallway. Please include this language in your will to make an estate gift to Jennie:
“I give, devise, and bequeath (describe dollar amount, property to be given or percentage of your residuary estate), to Jennie Edmundson Foundation, a not for profit, 501(c) (3) organization, located at 933 East Pierce Street, Council Bluffs, IA 51503 be used by said organization to meet the immediate or future needs of the hospital, as determined by the Foundation board of Trustees.”
Endowment Funds – Jennie Edmundson Hospital receives gifts from many donors whose loyal support continues for years. Endowments can serve to extend such loyalty beyond one’s lifetime. An endowment fund permanently sets aside and invests funds to generate annual income for the hospital.
Additionally, endowments provide an opportunity to permanently honor and memorialize a donor’s generosity, creating a legacy that lives through the ages. Please contact us for more information on our endowment program.
Trusts – these are a more sophisticated way of leaving a planned gift and can take on different forms (Charitable Remainder Unitrust (CRUT) or Charitable Remainder Annuity Trust (CRAT)). Both types of Charitable Remainder Trusts provide for specific distributions for one or more beneficiaries for life with an irrevocable interest to be held for the benefit of a charitable organization.
IRA Charitable Rollover Gifts – You may be eligible to make a tax-free gift directly from your individual retirement account (IRA). A permanent law enacted in December of 2015 allows individuals who are age 70 ½ or older to make a distribution from their IRA directly to charity. Although this direct gift to charity counts toward satisfying your required minimum distribution requirements, the amount of this distribution is excluded from your taxable income. Donors may transfer up to $100,000 directly from their IRA in a given year and must transfer the funds outright, and directly, to one of more qualified charities.
Real Estate & Life Estate Gifts – You may donate property or a residence, or a % of the residence, to Jennie Edmundson Foundation while retaining the right for you and/or a spouse to live in the house for life or until sold. You receive an immediate charitable income tax deduction for your ultimate gift to the Jennie Edmundson Foundation and effectively remove the property, or portion of the property, from your estate. Furthermore, a gift in the form of a retained life estate does not prevent you from relocating at a later point.
Charitable Gift Annuities – These are contracts established between donors and the charity of their choice allowing the charity to enjoy the benefit of a more substantial gift while the donor receives a guaranteed payment each year from the charity. The American Council on Gift Annuities offers appropriate rates so charitable organizations are not competing based on rates offered to prospective donors.
Life Insurance – Donors may name a charity as a beneficiary of their policy. Accepting life insurance does come with risk if the policy is one that is not paid.
Retirement Plans – Donors may name a charity as the beneficiary in whole or in part or as a contingency beneficiary of a qualified retirement plan (IRA, 401k’s, 403b’s, and more).
This is not an all-inclusive list of ways in which planned gifts may be received by the Jennie Edmundson Foundation, however, it does give some good examples of the options open to you in your planning. For more information about planned giving and the Jennie Edmundson Foundation Legacy Society, please contact the Jennie Edmundson Foundation at 712-396-6040, or email your questions to [email protected]