Planned Giving
With a little planning, your gifts to Ellis can help achieve your
financial, philanthropic, and estate-planning goals.
Planned gifts give back, allowing you to take sizeable income,
capital gains, and estate deductions on your taxes. They can provide
income for you and your family for life. And planned gifts can be much
larger than other gifts, so you can leave a legacy that fits your
philanthropic goals.
Please note that all three Schenectady hospitals - Ellis Hospital,
St. Clare's Hospital, and Bellevue Woman's Hospital - are now unified as
one organization, Ellis Medicine. Testamentary gifts,
including bequests, intended to benefit any of these campuses must
include the language the Ellis
Hospital Foundation, Inc. The Ellis Hospital Foundation, Inc.
receives all charitable contributions for Ellis Medicine and its
services and programs including Bellevue Woman's Center, the Ellis
Health Center and Ellis Hospital.
Whether you are just thinking about your will or looking for
opportunities to leave a legacy, we can help. For more information,
contact Beth Schroeder at the Foundation at 518.243.4600.
Bequest
- You can make a provision in your will to designate a portion of
your estate, including such items as cash, stock, land, art, or
other personal belongings, to go to the Ellis Hospital Foundation,
Inc. A bequest to the Foundation is not subject to federal, estate
or local inheritance taxes, and the value of the bequest is
deductible in determining your taxable estate.
Learn more...
Charitable Gift Annuity
- In exchange for your gift of $10,000 or more in the form of cash
or stock, the Foundation agrees to pay you and/or a designee, such
as a spouse or child, a fixed payment for life. The older you are
the higher the income you will receive. You benefit by getting a tax
deduction for creating the annuity, and a portion of the payments
from Ellis will be tax-free. Charitable gift annuities are
particularly advantageous for those who donate appreciated stock.
You must be 50 years or older to establish a charitable gift
annuity.
Gifts of Stock
- Giving appreciated stock offers you two-fold tax savings. You
avoid paying any capital gains tax on the increased value of your
stock, and receive a tax deduction for the fair market value of the
stock on the date of the gift. To take advantage of these tax
benefits, stock must be transferred to the Foundation and sold
through the Foundation's broker.
Pooled Life Income Fund
- Your gift of at least $5,000 in cash or stock is pooled with
other gifts for investment purposes. In return, you receive a
proportionate share of the new income earned by the fund annually.
You avoid capital gains and estate taxes on gifts of appreciated
securities. Upon your death, your remaining assets in the fund go to
the Foundation. You must be 65 years old to participate.
Life Insurance
- Make a gift to the Ellis Hospital Foundation, Inc. by naming it
as a beneficiary of a life insurance policy. Your ongoing premium
payments qualify as charitable deductions.
Real Estate
- By giving real estate (property and/or homes), you avoid the
difficulties of selling property and pay no capital gains taxes. The
Foundation will sell the house or land, and the proceeds will
benefit the hospital.
Retirement Plans
- IRAs, 401(k) Plans, Keogh Plans, etc. may provide a good way for
you to give to Ellis Medicine. Remember, you may designate the Ellis
Hospital Foundation, Inc. as a director or contingent beneficiary of
your retirement plan.
Endowment
- You may establish an endowment at the Foundation for a minimum
of $50,000. To do so, the donor makes a contribution to the Ellis
Hospital Foundation, Inc. which then sets up the special account and
invests the principal, following prudent strategies designed to
protect it and make it grow. You may establish an endowment in your
own name, or in honor or memory of someone who is special to you, or
to ensure an annual stream of income to a specific program or
service at Ellis Medicine.