Planned Giving
Legacy of Care
Securing your legacy today promises a healthier tomorrow for Oklahoma’s children.
The Planned Giving Partnership
Through a partnership with the Oklahoma City Community Foundation, Children’s Hospital Foundation is providing an avenue for individuals to give through a series of planned giving options.
The Planned Giving Partnership includes several ways your assets can provide continuous support for Children’s Hospital Foundation and Oklahoma’s children. It will provide you with tax advantages and/or increased income, and you will establish a lasting legacy within your community. The Community Foundation has been guiding charitable gifts of individuals just like you – caring citizens who want to help their community – for more than 30 years. Through the Planned Giving Partnership, you can make a lasting impact on health care for Oklahoma’s children for years to come.
Your generosity helps save lives.
Children’s Hospital Foundation has strived for 26 years to improve the health of children through its support of research, education and clinical care at the Oklahoma Health Center. Our goal is to see that Oklahoma’s children receive the very best health care available – that sick children and their families never have to leave the state to receive specialized care.
Because of our efforts, seriously ill and injured children can now receive expert pediatric services in the fields of neonatology, genetics, diabetes and endocrinology, nephrology, infectious disease, pulmonology, behavioral developmental pediatrics, pediatric surgery, and hematology and oncology right here in Oklahoma. Every penny we raise stays in Oklahoma to benefit the children of Oklahoma.
How can you make a difference?
Outright Gifts
A gift of cash is the easiest way to make an outright gift, but you may find it more advantageous to make a gift of securities or personal property.
Donors who itemize deductions can take a charitable income tax deduction for the value of the cash gift, plus you can avoid capital gains tax due on appreciated property.
You can tailor your gift to fit the immediate needs of Children’s Hospital Foundation. We would be happy to work with you and your advisors to plan your gift in the most tax-advantaged way.
Bequests
You have the opportunity to create a personal legacy of caring, regardless of your financial situation, by including Children’s Hospital Foundation in your living trust or will.
A trust you establish to take effect during your lifetime can provide possible savings in estate taxes if a charitable organization, such as Children’s Hospital Foundation, is the beneficiary of the trust remainder. Terms of the trust can be changed at any time.
A bequest in your will gives you an estate tax deduction for the value of your bequest. A bequest also gives you flexibility in providing for family needs first.
Life Insurance
Should you desire to give a larger gift to Children’s Hospital Foundation than you are currently able to make, purchasing a life insurance policy is a way to accomplish that goal. You can make a significant gift with little expenditure. A gift of an old or new policy gives immediate income tax deduction for the gift’s value, plus possible estate tax savings.
Retirement Plans
You may have built wealth in your 401(k), IRA’s and other retirement plans. If a non-spouse is the beneficiary of a retirement plan, these assets may be subject to both estate and income taxes. In addition, your retirement dollars may be exposed to generation skipping transfer taxes before reaching the non-spousal beneficiary. Such taxes also apply if you are unmarried. To avoid this, the best way to donate may be from your retirement plan which preserves the plan’s value and allows you to leave heirs less costly bequests.
Retained Life Estate
You can make a donation of real property, either in full or with a Retained Life Estate. You will receive immediate income tax deduction for the charitable value of the gift, plus avoid capital gains tax due.
If you desire to make a gift of your personal residence to Children’s Hospital Foundation you and your spouse can retain the right to live there for the rest of your lives.
Charitable Gift Annuity
A charitable gift annuity combines an investment with a gift. In return for the gift, Children’s Hospital Foundation agrees to pay you back a percentage of your gift annually for your lifetime. You receive an immediate income tax deduction for part of the gift’s value, with capital gains spread out over life expectancy. This gives you and/or another beneficiary a set income for life.
Charitable Remainder Trusts
If you are locked in to highly appreciated, low-yield assets, transferring your assets to a Charitable Remainder Annuity Trust will pay a set income to you, or those you name, before Children’s Hospital Foundation receives the remainder. You will receive income tax saving, no capital gains tax liability and possible estate tax savings.
A Charitable Remainder Unitrust pays a variable income to you, or those you name, before Children’s Hospital Foundation receives the remainder. You will receive income tax savings from deduction, no capital gains tax liability and possible estate tax savings. This trust provides annual income that could increase if the trust value increases.
A Charitable Lead Trust would pay an income to Children’s Hospital Foundation for a period of years before you or your heirs would receive the remainder. You receive gift or estate tax savings for the value of payments made to Children’s Hospital Foundation. This allows you to pass assets to heirs intact and at a reduced cost.
Why should you make a planned gift?
Planned gifts provide future funding for Children’s Hospital Foundation‘s valuable research, education and clinical care programs. Plus, it can provide important financial benefits to you and your family.
Children’s Hospital Foundation can provide many options to coordinate your financial and philanthropic goals. Depending on your personal needs and situation we can help:
- Increase your spendable income
- Create a lifetime income
- Avoid capital gains tax
- Provide income tax deductions
- Eliminate or reduce estate taxes and probate costs
| If your goal is to: | Then you can: | Your benefits are: |
|---|---|---|
| Help Children’s Hospital Foundation right now | Simply write a check to Children’s Hospital Foundation | Your gift has immediate impact and you receive an immediate income tax deduction |
| Save on estate taxes and provide for family first | Establish a living trust or will | You create a legacy of caring regardless of your financial situation |
| Make a large gift with little cost to yourself or make a gift larger than you can currently make | Gift a new or continued life insurance policy to Children’s Hospital Foundation | Immediate income tax savings plus receive possible estate tax savings |
| Avoid two-fold taxation on retirement benefits | Name Children’s Hospital Foundation as beneficiary of your retirement assets | You can leave your family other assets that have less tax liability |
| Give a gift of real property | Establish a Retained Life Estate | Immediate income tax deduction plus you avoid capital gains tax due. |
| Secure a set income for life for you and/or another beneficiary | Create a Charitable Gift Annuity | Immediate income tax deduction with capital gains spread out over life expectancy |
| Receive income tax savings, no capital gains tax liability and possible estate tax savings | Establish a Charitable Remainder Trust | Receive a set or variable income to you or those you name. Pass assets to heirs intact or at a reduced cost |
