A Tradition of Support
For over three quarters of a century, Baptist Health System has been blessed with countless friends who believe in serving their community through their philanthropy. Friends of Baptist Health System have taken responsibility for the future of healthcare in Alabama. Their contributions have helped make Baptist the largest health care provider in the State.
Ways to Support the Foundation
A variety of gift options are available to those who wish to support the mission of the Baptist Health Foundation. Each is designed to offer a means by which both the donor and the Foundation can benefit from an act of charitable giving.
Cash - The simplest way to make a gift to the Foundation is to write a check.
Personal Property - In most cases, a gift of tangible personal property, such as paintings, antiques, books, artifacts, jewelry or stamps, results in a charitable deduction. (Please visit our Online Giving section for credit card donations.)
Appreciated Property - Gifts of appreciated property such as stocks, homes, land, or personal property can often eliminate capital gains tax and the donor receives a charitable deduction based on the full market value of the gift.
Special Gifts Thoughtful Gifts - If there is a loss of a family member, friend, or associate, or when there is a special individual or occasion to honor, a thoughtful gift to the Foundation is truly meaningful. It demonstrates the donors depth of concern and it benefits others by continuing our mission.
- Endowments - The future as well as the present success of the Foundation may be insured by donors who establish an endowment. This is a fund for a specific purpose, as stated by the donor that is established in perpetuity allowing only the income to be used.
Baptist Health Foundation offers an active gift planning program which provides donors with information and assistance in achieving their charitable giving goals in the most efficient manner. Gift planning is the matching of the donors goals and desires with the Foundations opportunities and priorities by using various planning techniques. Planned giving may include outright gifts, testamentary (through the donors will), or life income arrangements which provide a life-time income for the donor or designated beneficiary:
- Gift Annuity
- Life estate in personal residence
Gift Planning Baptist Health Foundation offers an active gift planning program which provides donors with information and assistance in achieving their charitable giving goals in the most efficient manner. Gift planning is the matching of the donor's goals and desires with the Foundation's opportunities and priorities by using various planning techniques. Planned giving may include outright gifts, testamentary (through the donors will), or life income arrangements which provide a life-time income for the donor or designated beneficiary.
Baptist Health Foundation can help donors explore ways to:
- Generate supplementary income
- Maximize their charitable gift deduction
- Eliminate or reduce capital gains and estate taxes
- Fulfill their charitable giving goals
Such gifts may be conveyed by any of the following means:
- Gift Annuity
- Life estate in personal residence
- Cash, stock & other securities, retirement accounts, real estate or property of any description may be bequeathed or devised to the Baptist Health Foundation, Inc. by a clause in the donor's Will or by a Codicil added to the Will. The donor using this method retains full control and use of the property during his lifetime and may change the Will any time prior to the donors death. At the time of the donor's death, the bequest qualifies as a charitable deduction for estate tax purposes (view sample will language).
Charitable Gift Annuity
The Charitable Gift Annuity is an irrevocable, binding contract between the donor and the Baptist Health Foundation, Inc. In transferring cash, stock, securities, or other property to the Baptist Health Foundation, Inc. the annuitant is guaranteed a fixed dollar income return each year for his lifetime or those of other designated income beneficiaries. The rate of return is stipulated in the annuity contract. The older the annuitant(s) at the time of the gift, the higher the rate of return. The donor is entitled to a charitable gift deduction for income tax purposes in an amount determined by IRS formulas. The income payments made to the donor may include some tax-free return of principal. The annuity payments to the donor are backed by the entire assets of the Foundation.
Cash, securities, real estate and other property (including investments yielding tax-free income, but not tangible personal property) may be used to fund a Charitable Remainder Unitrust (CRUT). Each CRUT is managed as a separate legal entity and is never co-mingled with other funds. Donors or their designated income beneficiaries receive a specified percentage of the full market value of the trust's assets, as valued annually.
The donor will eliminate the capital gains tax liability which would have been incurred had he/she sold the donated property at its appreciated value, and federal gift and estate taxes are completely avoided for the full amount of the gift. Furthermore, an important advantage of a trust over a gift by Will is that the donor receives a charitable deduction for income tax purposes in the year of the gift. This deduction is based on IRS formulas and is less than the face value of the gift.
A Net Income Charitable Unitrust ensures that the trust principal need never be invaded in order to make the periodic payments to income beneficiaries. This type of trust provides that in a period when the trust does not itself realize income equal to the pay-out percentage specified in the trust agreement, only income actually realized by the trust will be paid to the beneficiaries.
A third method is similar to the second, but includes a "makeup" clause and is called a Net Income with Make-up Charitable Unitrust. In the first subsequent year for which income of the trust exceeds the pay-out percentage specified in the trust agreement, the surplus earnings must be applied to make up the earlier deficiencies, and this continues through additional years until the stipulated income for every year has been paid.
Charitable Remainder Annuity Trust
The Charitable Remainder Annuity Trust is funded and managed in much the same way as the CRUT. It also provides the donor a charitable gift deduction for income tax purposes. Income to the beneficiaries is taxable to them in the same manner as in the case of a CRUT. However, instead of providing a specified percentage of the trust assets to the beneficiaries by way of income, the annuity trust agreement stipulates a fixed dollar amount to be paid annually. This return must be paid in full each year and does not vary in amount even though income to the trust may fluctuate. Similar estate and gift tax advantages apply as in other types of charitable trusts, and upon maturity of the trust, the remainder becomes available for use by the Foundation. Additions may not be made to an annuity trust.
Charitable Lead Trust
The charitable lead trust is another significant form of charitable giving. In essence, it is the reverse of deferred giving. In a charitable lead trust transaction, a donor transfers property into a trust, creating an income interest in the property in favor of the Foundation for a period of years or for the life or lives of an individual or individuals. The remainder interest is either retained by the donor or given to a non-charitable beneficiary (usually a family member). The charitable lead trust can be used by individuals both for lifetime charitable giving and for charitable bequest.
Life Estate in Personal Residence or Farm
A Life Estate is a gift of personal residence or farm whereby the donor actually gives the property to the Foundation but retains the right to use the property for the lifetime of a designated person or persons. Such a gift qualifies for an income tax deduction.
Making a planned gift to the Foundation distinguishes you as a lifetime member of the Legacy Society. By including Baptist Health Foundation in your estate plan, you help to ensure that future generations will have access to the quality healthcare on which we have all come to depend. For additional information on any of these giving plans or to notify the Foundation that we are already in your plans, please Email Us.
Gift Recognition Program A gift to the Baptist Health Foundation is one way you can positively affect your community. Your gift will help make available the very best in health care for you, your family, friends and neighbors. The Baptist Health Foundation is one of the oldest hospital foundations in the nation. The Foundation was created in 1967 to provide a philanthropic mechanism through which individuals, trusts, foundations, estates, businesses and other organizations may invest in quality health care in Alabama.
The recognition of charitable gifts to the Baptist Health Foundation represents an expression of our gratitude. It also generates public awareness of the support the Foundation receives from the communities we serve. All gifts are essential and allow the BHS to keep pace with the ever increasing demands for enhanced health care.
Donors are classified according to the magnitude of their gifts made on a (annual or cumulative) basis for giving levels. All gifts will be recognized (with permission) in the Foundations annual report. Donors of gifts which qualify for recognition through one of the following Societies will also have their name listed on recognition units are located in the main lobby of the Baptist Medical Centers, as well as, other significant areas of the Baptist Health System. They will also receive an invitation to an annual recognition event for Society members.
The President's Society
The President's Society was developed as a means of expressing gratitude to key individuals in the community who provide Baptist Health System with significant gifts. While President Society members are encouraged to provide unrestricted contributions of cash, securities or other resources, those who have special interests may designate their gifts for special programs or services. Donors who have made major contributions to the Baptist Health System will be recognized as members of The President's Society at one of the following levels:
Life - $ 10,000
Benefactor - $ 5,000
Patron - $ 1,000
The Ida V. Moffett Society
The Ida V. Moffett Society is a focus of interest for those persons who share Mrs. Moffett's belief that the patient always comes first and deserves the very best care possible. Mrs. Moffett was more than the symbol of compassion for the Baptist Health System, she was a mentor to over 3,600 nursing school graduates. Donors who have made significant contributions to the Baptist Health System will be recognized as members of The Ida V. Moffett Society at one of the following levels:
Emeritus - $ 1,000,000
Founder - $ 500,000
Visionary - $ 100,000
Humanitarian - $ 50,000
Samaritan - $ 25,000
The Legacy Society
In 1992 the Baptist Health Foundation established The Legacy Society to recognize those individuals who have included the Foundation in their estate plans. The Legacy Society emphasizes the importance of will provisions, charitable remainder trusts, gift annuities, insurance policies, life estate gifts and other planned gifts. Those who include Baptist Health Foundation in their will or estate plan play a major role in helping assure the future greatness of the Baptist Health System. You may become a member of The Legacy Society by simply advising the Foundation that you have provided for a future gift.
Sample Will Language The following are recommended clauses that may be used to make a gift to the Baptist Health Foundation through your Will. These clauses, of course, are only examples. Contact your attorney for proper legal advice.
I give and bequeath _________________dollars ($________ ) to the Baptist Health Foundation, Inc. a not-for-profit organization incorporated in the State of Alabama the principal office at P.O. Box 830605, Birmingham, Alabama, 35283 for its general purposes.
I give, devise, and bequeath all my right, title, and interest in and to (describe the specific property), to the Baptist Health Foundation, Inc. a not-for-profit organization incorporated in the State of Alabama the principal office at P.O. Box 830605, Birmingham, Alabama, 35283 for its general purposes.
I give my residuary estate, which is all the rest, residue, and remainder of my property, real and personal, of every kind and description and wherever located (including all legacies and devises that may for any reason fail to take effect), belonging to me at the time of my death or subject to my disposal by Will to the Baptist Health Foundation, Inc. a not-for-profit organization incorporated in the State of Alabama the principal office at P.O. Box 830605, Birmingham, Alabama, 35283 for its general purposes.
I give, devise, and bequeath (describe the specific property or amount) to the Baptist Health Foundation, Inc. a not-for-profit organization incorporated in the State of Alabama, the principal office at P.O. Box 830605, Birmingham, Alabama, 35283 to establish an endowment fund (to be known as the Fund); the principal amount to be invested and the annual income therefrom to be used for the benefit of the Baptist Health Foundation, Inc.
Having hereinbefore made my last Will and Testament dated and being of sound mind, I hereby make, publish and declare the following Codicil thereto; (here insert clause in same form as if it had been included in body of Will). Except as hereinbefore changed, I hereby ratify, confirm and republish my said last Will and Testament.