Ways You Can Leave a Legacy: Planned Giving

At the MJHS Foundation, our mission is to ensure that all at-risk members of our community have access to quality health care. As a not-for-profit organization, we rely on generous donations from grateful families and donors. There are many ways to give to MJHS, including leaving a planned gift in your will or estate. This option isn’t for everyone, but could it be for you?

What Is Planned Giving?

Planned giving refers to a donor’s intention to make a gift as part of their final estate plan. Put simply, it’s a donor’s plan to make a significant contribution to the charitable cause of their choice. Planned gifts, as their name suggests, are made in advance and given to recipients at a later date, usually after the donor’s death or to honor an anniversary or birthday. Leaving a planned gift is an opportunity to significantly impact an organization’s legacy. There are various ways to leave a planned gift. Below are a few of the common ones.

What Are the Different Ways to Make a Planned Gift?

Planned gifts can take multiple forms. You can plan to gift appreciating assets, such as artwork and homes, or to give monetary gifts that directly benefit your charitable cause after your death. Some common forms of planned gifts include:

• Life Income Limits – Life income gifts are planned-giving options that provide regular income to you or your beneficiaries during your lifetime while designating a future charitable gift to support compassionate care. Explore life income gifts with MJHS Foundation.
• Gifts in a will or trust – These types of gifts maximize the benefit of your gift by providing you with capital gains, tax savings and an income tax charitable deduction. You can also make contributions from mutual fund accounts. Find out more about including MJHS Foundation in your will or trust.
• Beneficiary designations – Naming a charitable organization as a beneficiary of your retirement plan, life insurance policy, or bank account is a simple yet powerful way to make a lasting impact. With just a few words on a form, you can help ensure compassionate care for patients and families continues for generations to come. Learn more about naming MJHS Foundation as a beneficiary.
• Qualified Charitable Contributions (QCDs) – A Qualified Charitable Distribution (QCD) is a tax-advantaged way to give directly from your IRA, supporting charitable care while meeting your financial goals. Learn more about giving through a QCD.

What Are Some of the Benefits of Planned Giving?

Planned giving is a great way to ensure you can continue making a positive impact through your legacy. Through gift planning, you can make a significant investment in the future health of your chosen charitable organization. Additionally, planned gifts can offer tax savings, including reduced income tax liability or an estate tax exemption, depending on the type of gift.

You may want to donate to a cause dear to your heart, but you may not be able to do so in the form of a large, outright gift. This makes planned giving a great option because it allows donors to invest in future gifts over time. No matter what assets you have now, you can contribute to a significant future gift through gift planning.

Interested in Leaving a Legacy?

If you want to learn more about making a planned gift, please call us at 212-356-5300 or fill out the Declaration of Charitable Intent Form. We welcome the opportunity to speak with you or your financial or legal advisors.

This article is for informational purposes only and should not be used for legal or financial advice.