Bequests and endowments are gifts of assets. These future gifts offer advantages to the donor and his/her estate and they may be designed to assure life income for the donor or others. With the advice and direction of a professional advisor and the Foundation staff, the donor may establish the type of gift that provides the greatest benefit to him/her, his/her family and, ultimately, the hospitals of Baptist Health and Wolfson Children's Hospital. These types of gifts give the donor the added pleasure of knowing about the good work his/her gift will do while enjoying the benefits of reduced taxes (including estate, income and gift taxes) and the opportunity, in many cases of providing personal income.
Charitable Remainder Trusts (Annuity and Unitrusts)
The donor can select the rate of return from these charitable vehicles and also choose a fixed or fluctuating annual payment. Capital gains are minimized and the donor will receive a tax deduction based on the age of the income recipient and the rate of return.
Charitable Lead Trusts
A charitable lead trust enables the donor to transfer valuable assets to his/her heirs with relatively little transfer tax and to make a substantial contribution through the Foundation. The donor places property or cash in this trust, providing the Foundation with income at a fixed amount for a defined time, usually being not less than 10 and not more than 20 years. The trust term can also be established for the donor's life or for the lives of other living individuals. At the end of the term, the balance is returned to the donor's heirs.
Charitable Gift Annuity
A gift annuity is a simple contract offering the donor the oldest and simplest way to make a gift through the Foundation. The income the donor receives is a fixed dollar amount and is guaranteed. A deferred payment gift annuity is an option if the donor wishes to delay or defer his/her income until retirement. Tax deductions for these instruments vary.
Gifts by Bequest
A bequest is one of the simplest ways a donor can give from his/her estate. Bequests can be made for a specific dollar amount or a percentage of the estate and can include tangible personal property, real estate, securities, or what is left (remainder) after the donor has provided for his/her survivors.
Gifts of Life Insurance
A significant future gift is to name the Foundation as the recipient of all or a portion of the proceeds of an existing life insurance policy. With the transfer of ownership of the paid-up policy to the Foundation, the donor will receive a tax deduction for the cash surrender value, thus reducing his/her tax liability.
Another way of giving life insurance is to purchase a new policy naming the Foundation as owner and beneficiary. The donor will receive an income tax deduction for each premium as it is made and provide a major gift with a modest annual payment.
Call Baptist Health Foundation about our deferred giving options to Baptist Medical Center, Wolfson Children's Hospital, Baptist Medical Center Beaches, Baptist Medical Center Nassau, and Baptist Medical Center South. We will visit with you to assure that your wishes are carried out as you intend.
Baptist Health Foundation, Inc.
841 Prudential Drive, Suite 1300 (Aetna Building)
Jacksonville, FL 32207
Phone: 904.202.2919
Fax: 904.202.2875
E-mail: foundation@bmcjax.com