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Planned Giving

treeSt. Luke’s Hospital Foundation is a not-for-profit, 501(c)3 organization established in 1991 to support one of our community’s most valuable assets, St. Luke’s Hospital. It is made up of citizens who have joined together to raise funds for new equipment, facility improvements, educational programs, and the Foundation’s endowment.

What is Planned Giving?

Planned Giving is a lasting investment in tax advantaged charitable giving while you have control over your assets. Your gift to St. Luke’s Hospital Foundation is an investment in exceptional care close to home.  Planned Giving allows contributors to maximize specified dollar amounts gifted in any year or utilize an array of established methods for current and future estate plan giving. Planned Giving allows you, the donor, to control your gifts guaranteeing the future of our local hospital.

The Planned Giving Program also ensures a stable flow of operating funds from St. Luke’s Hospital Foundation where earnings from the endowment and direct gifts bring about important local medical advances in treatment, prevention and education.

Planned gifts present special opportunities of mutual benefit to the donor and St. Luke’s Hospital. They are strategic charitable investments that can provide you with important tax benefits now and in the future.

A gift to the Foundation is tax deductible. With private support from citizens, the Foundation has been able to give St. Luke’s Hospital state-of-the-art imaging capabilities, hospital beds and heart monitors, and has provided for the renovation of patient rooms, outpatient registration and the Emergency Department. St. Luke’s Hospital Foundation also contributed $2 million for the construction of the patient care wing.

Contributions are always needed and appreciated, and enable St. Luke’s to maintain the highest level of patient care.

 

Exceptional Ways to Give

Bequests

An up-to-date will is one of the most effective methods of Planned Giving. A bequest is simple, versatile, and tax-wise. A bequest is created with a few sentences in your will or living trust designating an amount or a percentage of your estate as a gift to St. Luke’s Hospital Foundation. And your estate could benefit from a sizable charitable tax deduction.

Life Insurance

St. Luke’s Hospital Foundation may be named as the owner and/or beneficiary of a previously existing or new life insurance policy. You can either name St. Luke’s Hospital Foundation as the recipient of your policy’s death benefit or you can sign over the ownership of an existing policy to St. Luke’s Hospital Foundation now. This latter method allows you to receive an income tax deduction equal to the policy’s fair market value or the premiums paid, whichever is lower.

IRA’s, 401k’s, Bank Accounts

Naming St. Luke’s Hospital Foundation as a beneficiary in your retirement plan 401K, IRA, or bank account only requires your signature. These are excellent vehicles for Planned Giving because, if they are given in your will to loved ones, other than your spouse, they are subject to more than half of their value being depleted by taxes. By transferring these assets during your lifetime you avoid estate and income taxes. Naming St. Luke’s Hospital Foundation as primary or secondary beneficiary now allows these assets to be worth far more as charitable tax-exempt gifts.

Cash or Appreciated Assets

Checks made payable to St. Luke’s Hospital Foundation or gifts of appreciated securities (Stocks, Bonds, Mutual Funds) provide important tax advantages in addition to securing the lifesaving work of St. Luke’s Hospital. Appreciated securities, those with a low cost basis and high current value, provide the donor with tax deductions for the higher current value and no short- or long-term capital gains when the securities are sold by St. Luke’s Hospital Foundation. In addition, gifts of appreciated property including real estate may provide significant tax deductions to you, the donor.

Charitable Remainder Trusts (CRT)

Known as “the workhorse of Planned Giving,” the CRT provides income payable to the donor during their lifetime. It also provides an immediate tax deduction and a future gift of the remaining principal to the St. Luke’s Foundation at the beneficiary’s death. It can be established with cash or highly appreciated assets that also give the donor a diversified source of income. Establishing the CRT removes assets from the estate, provides income, creates a current tax deduction, and provides a significant gift to St. Luke’s Hospital Foundation.

 

Planned Giving Brochure

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Contact Us

map89 West Mills Street, Suite B
Columbus, NC 28722

phonePhone: 828.894.2693
Fax: 828.894.2689

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