Planned Giving

 

Gifts to Joe DiMaggio Children’s Hospital Foundation and Memorial Foundation are used to save lives and change lives each day with the healthcare provided to the community through Memorial Healthcare System.

We invite you to consider what you can do today
for the health of our community for the future.

Make a difference… build a dream

Join our Dream Builders Society with an estate planning gift that will leave a legacy for generations to come. The Dream Builders Society was established to recognize donors who have included Joe DiMaggio Children’s Hospital Foundation and/or Memorial Foundation in their philanthropic estate planning. This extraordinary group is ensuring healthy tomorrows for our community’s children and families with a gift today.

The following gift commitments qualify you for membership in the Dream Builders Society:

  • Bequest provision in your will or trust
    Include the Foundations as a beneficiary to your will or trust or add a codicil to create a new beneficiary designation to an existing estate planning document. The designation could be a set amount, a percentage or the remainder of your estate.

  • Beneficiary designations
    Designate the Foundations as a partial or whole beneficiary of your Individual Retirement Account, banking accounts or other retirement plans.

  • Life-income gifts that name Joe DiMaggio Children’s Hospital Foundation
    and/or Memorial Foundation as a remainder beneficiary 

    Charitable remainder trusts and charitable gift annuities provide income to you, and possibly a loved one and then to our Foundations.

  • Gifts today that provide for your family in the future
    Charitable lead trusts allow you to place assets in a trust to provide contributions to the Foundations for a term of years with the remainder going to your family or other beneficiaries you select.

  • Insurance Policies
    Add the Foundations as the beneficiary of a new life insurance policy or a life insurance policy that you no longer need for the purposes for which you initially purchased.

  • Other planned gifts may also qualify 
    Let us work with you and your advisors to design a charitable gift plan that addresses planning and tax issues for you and your family, while ensuring Joe DiMaggio Children’s Hospital Foundation and Memorial Foundation can continue to assist in funding world-class care at Memorial Healthcare System.

Membership in the Dream Builders Society helps to build a case for support of Memorial Healthcare System with the lasting satisfaction in knowing that your gift will help to provide children and families of our community with a legacy of hope and healing for the future.

In recognition of a planned gift, you will receive the following:

  • Your name will be included on the Donor Recognition Wall in Memorial Regional Hospital as well as the Foundations’ publications.

  • Invitations to Foundations’ special events and special engagements.

 

How to Give...
Gifts that pay you income or pay income to your beneficiaries

Charitable Gift Annuities
If you'd like to support our mission and receive steady payments during your retirement years, a charitable gift annuity may be right for you.

Through a simple contract, you agree to make a donation of cash, stocks or other assets to the Joe DiMaggio Children's Hospital Foundation or Memorial Foundation. In return, we agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Charitable Remainder Trusts
With a charitable remainder trust, you can receive income each year for the rest of your life from assets you place into a trust you create. Your income can be either a variable or a fixed amount. After your lifetime, the balance in the trust goes to the charities of your choice.

Your Possible Benefits

  • A partial charitable income tax deduction
  • Potential for increased income
  • Up-front capital gains tax avoidance
  • Professional management of trust assets available


Charitable Lead Trust
Consider the benefits from the tax savings that result from supporting Joe DiMaggio Children's Hospital Foundation or Memorial Foundation, but without you giving up assets that you'd like your family to receive someday.  You can do this with a charitable lead trust.

You transfer assets to a trust that pays Joe DiMaggio Children's Hospital Foundation or Memorial Foundation an income for a number of years, which you choose. The longer the length of time, the better the gift tax savings for you. When the term of years is up, the remaining trust assets go to your family or other beneficiaries you select.

Gifts that benefit others after your lifetime

Bequests
Consider including a gift to the Joe DiMaggio Children's Hospital Foundation or Memorial Foundation in your will or living trust through a charitable bequest.

Your gift can be made as a percentage of your estate. Or you can make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, Joe DiMaggio Children's Hospital Foundation or Memorial Foundation receives your gift.

Your benefits:

  • Simplicity. Just a few sentences in your will or trust are all that is needed. Share the sample bequest language for the Joe DiMaggio Children's Hospital Foundation or Memorial Foundation with your estate planning attorney:

    "I, [name], of [city, state ZIP], give, devise and bequeath to Joe DiMaggio Children's Hospital Foundation or Memorial Foundation of Hollywood, Florida [written amount or percentage or remainder of the estate or description of property] for its unrestricted use and general purpose."

  • Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.

  • Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.

  • Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift's full value.

 

Beneficiary Designations
Naming the individuals and charities that will receive your assets once you are gone can be a simple process. Certain assets, such as retirement plans, banking accounts and life insurance can be assigned through beneficiary forms. The beneficiaries of these assets can be easily modified at any time to meet your changing needs.


What to Give...

Cash    
The easiest, most common way for you to support Joe DiMaggio Children's Hospital Foundation or Memorial Foundation is with cash gifts—typically gifts by check. You’ll receive an immediate charitable deduction on your federal income taxes, when you itemize.

Securities
Stock that has increased in value is one of the most popular assets used for charitable giving, provided it has been held for more than one year. Through careful planning, you can reduce or even eliminate federal capital gains tax while supporting our work.

Life Insurance
When you own a life insurance policy with accumulated cash value and the original purpose for obtaining its protection no longer applies—such as to educate children now grown or to provide financial security for a spouse now deceased—your life insurance can be redirected to help support Joe DiMaggio Children's Hospital Foundation or Memorial Foundation.  You can name the Foundations as the primary beneficiary. (Naming us as beneficiary while you retain ownership of the policy, however, does not qualify you for an income tax deduction.) Or, you can name the Foundations as the beneficiary and also assign ownership of the policy as a current charitable gift.  In addition to providing generous support, you’ll obtain certain tax benefits.

Retirement Plans
Consider a gift of money saved in an employee retirement plan, IRA or tax-sheltered annuity as each of these retirement plan assets contains income that has yet to be taxed. Your beneficiaries will owe the income tax at your death, totaling up to 35 percent, which may be reason enough to consider giving your loved ones less heavily taxed assets and leaving your retirement plan assets to charity instead.

Real Estate
You can donate your property outright, place it in a trust or give it through your will. All of these methods will allow you to enjoy personal financial benefits while supporting the Foundations’  work in a meaningful way. Making an outright gift of property that you've owned for more than a year offers these benefits:

  • An income tax charitable deduction equal to the property's full fair market value. This deduction may reduce the cost of making your gift and it will provide you with cash that otherwise would have been used to pay taxes.
  • Eliminate capital gains tax on the property's appreciation.
  • The transfer is not subject to the gift tax, and the gift may reduce future taxable estate.

Additional Information

If you have already included Joe DiMaggio Children's Hospital Foundation and/or Memorial Foundation in a bequest or other planned gift, we hope you will let us know so that others may be encouraged to follow your example. We respect those who wish to remain anonymous, but we ask that you let us know of your plans on a confidential basis in order to help us to plan for the future.

The Foundations are prepared to work with you and your professional advisors to structure gifts that will meet your personal, family and charitable goals.  For more information, please contact:  Felicia G. Bell, Director of Planned Giving at 954.265.3454 or Fbell@mhs.net.

Legal Name and Tax ID #:
Joe DiMaggio Children’s Hospital Foundation, Inc.         Tax ID# 65-0492343
Memorial Foundation, Inc.                                              Tax ID# 59-2082218

Important note: The Foundations are committed to providing donors with accurate information about vehicles for charitable planned giving. However, the materials on our website are for informational purposes only and not intended to serve as legal or tax advice. We urge donors to consult with their own advisors regarding the legal and tax consequences of potential gifts. We are pleased to work with donors’ advisors as well our own to ensure the best result for all parties.

Ways to Give

Sally Stowers:
I have a provision in my will for Memorial Foundation. This is a wonderful way to make a difference. If I can make any contribution to helping the elderly in our community, I will be thrilled.

Ziggy Rosinsky:
I have several Charitable Gift Annuities. CGAs are 'gifts that give back,' providing fixed payments for life in exchange for a contribution to Joe DiMaggio Children's Hospital Foundation.

Linda Rogers:
I named the Foundation as beneficiary to my IRA. I'd like to see a world without cancer, but until then, I hope I can help to provide something to support children and families fighting the fight against cancer.

Copyright 2012 Joe DiMaggio Children's Hospital Foundation