Planned gifts are not the result of great wealth but rather of a great desire to make a lasting impact. After carefully considering the goals of your contribution, the assets to be used, the gift’s timing and tax implications, and its impact on your family and financial situation, you may find that you are able to make a larger impact with a planned gift than you imagined.
Planned gifts can be used to support employees, endow a program, or create your own naming opportunity. Let us help you craft your gift to match your passion. Your gift will support, inspire, and transform the patients, families, and staff at White Bird Clinic in Eugene, Oregon for generations to come.
Planned giving provides several options and opportunities to support White Bird Clinic in your overall financial and estate plans. Planned gifts are generally gifts or commitments made in the present with the benefit to White Bird Clinic deferred until a future date. However, planned gifts may also include outright gifts of appreciated property, securities or real estate or gifts of tangible personal property.
We realize that as you consider a planned gift, you must balance your family needs, personal lifestyle, and financial resources with the desire to contribute to supporting the needs of our community both today and in the future. Maintaining this balance requires careful planning. The fundraising staff at White Bird Clinic can help you make the most informed decision possible.
PLANNED GIVING IN YOUR WILL
Planned Giving In Your Will is a pretty simple process. You can use your will to benefit the program of your choice by instructing that White Bird Clinic receives a specific amount, a percentage of your estate, or a remainder amount. A will provides opportunities to express your values and create a legacy. The fundraising staff at White Bird Clinic can assist you or your professional advisors as you prepare an estate plan that is consistent with your wishes and the needs of the clinic. Since future medical needs cannot be predicted, White Bird Clinic recommends that your bequest be unrestricted and not designated to a particular program so your gift may be directed to the area of greatest need at the time it is received. With your permission, White Bird Clinic would appreciate recognizing your gift so it may inspire others to take direct action too.
Sample Language That May Be Incorporated Into Your Estate Planning Documents:
“I give and bequeath the sum of $__________ or ________% of my residuary estate to White Bird Clinic (federal tax ID number 93-0585814), located at 341 E 12th Ave., Eugene, OR 97401, as an unrestricted gift to be used at the discretion of the Board of Directors/Community of White Bird Clinic for the general purposes of White Bird Clinic and its related entities.”
Gifts for specific purposes
“I give and bequeath the sum of $__________ or __________% of my residuary estate to White Bird Clinic (federal tax ID number 93-0585814), located at 341 E 12th Ave., Eugene, OR 97401, to be used in support of (for example, White Bird Clinic Dental Program, capital campaign, patient assistance, ).”
Dollar amount gifts
“I give and bequeath the sum of $___________ to White Bird Clinic (federal tax ID number 93-0585814), located at 341 E 12th Ave., Eugene, OR 97401, as an unrestricted gift to be used at the discretion of the Board of Directors/Community of White Bird Clinic for the general purposes of White Bird Clinic and its related entities.”
Gifts of specific property
“I give and bequeath to White Bird Clinic (federal tax ID number 93-0585814), located at 341 E 12th Ave., Eugene, OR 97401, all of my interest in the following described property: _____________________________________________.”
“I hereby give and bequeath (description of property) to my spouse, if he or she survives me. If my spouse does not survive me, I give and bequeath (description of property) to White Bird Clinic (federal tax ID number 93-0585814), located at 341 E 12th Ave., Eugene, OR 97401, as an unrestricted gift to be used at the discretion of the Board of Directors/Community of White Bird Clinic for the general purposes of White Bird Clinic and its related entities.
Endowments may be a better option for you. If you wish to create a permanent endowed fund in your name or in the name of a loved one or someone you greatly admire. Your fund’s principal will be held and its income distributions directed in support of a particular area at White Bird Clinic that holds special meaning for you.
Alternatively, you may choose to permit White Bird Clinic to make the decision as to which area or areas will benefit most from your endowed fund’s distributions. Your endowed fund will be a legacy that lives on in perpetuity. If you wish to restrict your gift, White Bird Clinic suggests additional phrasing such as: “If changed circumstances should at some future time make it impractical to continue using the income from the fund for the purpose designated, then the White Bird Clinic may redesignate the purpose to adhere as closely as possible to my original intent.”
If White Bird or one of its programs is a designated charity in your will, trust or other estate planning document, you may consider forwarding a copy of the document or relevant pages to White Bird Clinic. If you are in the process of drafting your estate documents, it may be wise to discuss your bequest with the fund raising staff at White Bird Clinic. This will allow White Bird or its related entities the opportunity to confirm that they are able to fulfill your requests and help ensure your wishes are carried out to the fullest extent.
STOCKS AND OTHER PROPERTY
Stocks And Other Property can also be given as Legacy Gifts. Appreciated securities offer tax advantages, including forgiveness of the tax on capital gain and an income tax charitable deduction for the fair market value of the securities. You may also make gifts of property, including real estate, life insurance, retirement accounts, works of art, jewelry or valued collections. These gifts provide tax advantages and may require independent appraisals to meet Internal Revenue Service (IRS) guidelines.
ANNUITIES AND TRUSTS
Annuities And Trusts (Gifts With Life Income) Annuities and trusts are designed so that you can make provision for White Bird Clinic while recognizing current benefits. These vehicles allow a means for you to reduce the taxable portion of your estate, provide a source of income for you and your family, create a current income tax deduction and benefit healthcare. They are particularly attractive when funded with appreciated assets.
Charitable Remainder Trusts: A Charitable Remainder Trust is a separately managed and highly personalized life income gift. This vehicle provides for payment to White Bird Clinic either for life or a specified term, which cannot exceed 20 years. At death, or the end of the term, the remaining trust assets (the remainder interest) will be distributed to White Bird Clinic. In creating your trust, you are able to appoint the trustee, designate the beneficiary and select the term of the trust.
Charitable Lead Trusts: Charitable Lead Trusts are essentially the reverse of the life income gifts described above. The income from the trust is first paid to White Bird Clinic; the charity’s interest leads the way. With this trust, you transfer assets to a trustee who makes payments to White Bird Clinic for a specified number of years, after which time the assets are transferred to your heirs. The Charitable Lead Trust allows you to pass assets on to your children and grandchildren either completely free or substantially free of all estate and gift taxes. This may be a good option for those in higher estate and gift tax brackets.
Retirement funds, such as IRAs and tax-deferred assets, are subject to both income tax and estate tax after one’s lifetime. Using such assets as charitable gifts may be a wise choice. You can avoid both income and estate taxes by naming White Bird Clinic as a beneficiary. Financial advisors may indicate this is an excellent way to achieve your charitable goals.
GIVING THROUGH LIFE INSURANCE
Giving through Life Insurance can become an option when the need for life insurance changes as life progresses. You might have a life insurance policy that was purchased to provide for children, or a spouse but they are now self-sufficient. You can name White Bird Clinic to receive all or a portion of the policy proceeds that are no longer needed for their original purpose.
You can donate a term life or permanent life insurance policy. Your gift will make it to White Bird even if you live a long life. That’s because a permanent life insurance policy stays in force throughout your life, as long as you continue to pay premiums. Plus, the organization will have the option of surrendering the policy for cash if you transfer policy ownership before your death.
- Helpful link for understanding how it works: https://www.forbes.com/advisor/life-insurance/donate-to-charity/
Who to contact for more information:
Jose Soto-Gates (he/him): 541-345-7642 or firstname.lastname@example.org