Estate and Planned Giving
Many donors have made outright gifts or supported the programs held by The Foundation. Although these immediate gifts of cash and appreciated assets are vitally important, there is also a growing need for other types of gifts. By including The Foundation for the History of Women in Medicine in your estate plans, you ensure the future financial stability of an organization that continues to promote and preserve the history of women in medicine and the medical sciences.
Bequests and planned gifts also encourage an exemplary pattern of continuing support which will help The Foundation keep pace with expanding challenges and community needs and encourage the building of an endowment fund to secure the future and mission of The Foundation for the History of Women in Medicine.
Estate and planned gifts to The Foundation will be directed to the Endowment Fund. The Foundation hopes to establish a $3 million dollar endowment in order to secure the future of its programs and services. Opportunities for “named endowments” supporting a specific purpose or project are available with gifts of $25,000 and must be made in a period not to exceed five years. The Foundation’s Endowment Fund grows in value and only a portion of the interest derived from the endowment may be used on an annual basis. The Endowment Funds are managed by the Board of Trustees and counselors of Citibank.
One of the most popular and easiest of estate gifts to make to the Foundation is a gift through a will. Whether a simple bequest of cash, appreciated assets, or a plan that provides income for life, a will is one of the most flexible gift planning tools. If you already have a will, it is not necessary to rewrite your entire will. You may simply instruct your attorney to include a codicil, which is an amendment, to your current will or trust. For example:
I hereby give, devise and bequeath to The Foundation for the History of Women in Medicine, a non-profit corporation organized and operating under the laws of the State of Pennsylvania, the sum of $______________, or _________% of my estate, or the following property__________________.
A simple notarized document would suffice also.
Bequest gifts will be directed to The Foundation Endowment Fund and will continue to support our programs in perpetuity, providing a living legacy for the donor.
Life Insurance Policies and Tax-Deferred Retirement Plans
A donor may leave a Life Insurance Policy to The Foundation by relinquishing ownership of the policy and by assigning all rights, titles, and interest in the policy. In this way, the donor may claim a tax deduction for income tax purposes. A donor may also wish to contribute insurance to the organization even though the policy is not fully paid up. The donor can name The Foundation for the History of Women in Medicine as the beneficiary and continue to maintain the policy and receive a charitable tax deduction for the premiums made to keep the policy in force.
You may also designate The Foundation as a beneficiary, or contingent beneficiary, after the death of a spouse, of your Tax-Deferred Retirement Plan.
Life Income Gifts
A Charitable Gift Annuity is one of the simplest and most often used approached to planned charitable giving. With this approach you will make a gift, typically of cash or appreciated securities, to The Foundation. In exchange for your gift, you and/or your designee receive lifetime income based on a fixed percentage of the value of your gift. Following your death and the death of any other annuitant, The Foundation becomes the owner of the remaining assets.