Gifts Anyone Can Afford
Do you know there are ways to support Fairfield Medical Center that do not affect your current lifestyle or your family’s security? You can support FMC with gifts that do not impact the way you live by designating Fairfield Medical Center to receive estate assets in the future, or you can make immediate gifts of assets that are “out of sight and out of mind.”
- You can make a gift that costs you nothing during your lifetime.
- You can make a gift that leaves your current cash flow and financial planning unchanged.
- You don’t have to use cash to make a gift, but rather make your contribution with appreciated securities.
- You can donate an asset no longer needed.
Popular Giving Arrangements
Naming a beneficiary allows most people to realize an opportunity to give an even larger gift than originally thought possible. It is as simple as completing the form (many are now online), and the cost is often zero or minimal. You don’t need a large estate to make a significant gift to us. In addition to life insurance policies, 401Ks, other retirement plans as well as tax deferred annuities are all ideal assets for leaving a legacy through designation of beneficiary.
Gifts From Your Retirement Plan
How It Works
- Name FMC as a beneficiary of your IRA, 401(k), or other qualified plan.
- Designate FMC to receive all or a portion of the balance of your plan through your plan administrator.
- Once your generous gift has been received by FMC it will benefit our patients and community for many years to come.
- Avoid the potential double taxation your retirement savings would face if you designated these savings to your heirs.
- Continue to take regular lifetime withdrawals.
- Maintain flexibility to change beneficiaries if your family’s needs change during your lifetime.
Gifts Of Life Insurance
How It Works
- You transfer ownership of a paid-up life insurance policy to FMC.
- FMC elects to cash in the policy now or hold it.
- Purchase a separate life insurance policy for the Center and receive taxable deduction for policy premiums.
- Make a gift using an asset that you and your family no longer need.
- Make a larger gift to the Center than you could with current income.
- Receive an income tax deduction.
“We are simple people; we have led a simple life. We are not rich, but we have been blessed and we want to thank Fairfield Medical Center and all of their great staff for the wonderful care that we received.” Evelyn & Emery Williams
Emery & Evelyn have supported Fairfield Medical Center in many ways over the years. By establishing a trust, they have arranged for a gift to be endowed in their names that will continue to give to our patients and community following their lifetime. The Williams’ endowment will only release a portion or all of the fund’s earnings for the annual grant depending on their wishes. This means the corpus or principal of the fund remains intact.
Leaving your legacy by designing a specific or residuary bequest in your will or trust is the easiest way to ensure your desire to further our mission at FMC. To provide your financial advisor with the appropriate tools to make your gift, please see our Advisor Gift Planning Tools Link.
How It Works
- Include a bequest to Fairfield Medical Center Foundation in your will or trust.
- Identify the purpose of your bequest as unrestricted or directed to a specific purpose.
- Indicate a specific amount or a percentage of the balance remaining in your estate or trust that you wish to gift FMC.
- Your assets remain in your control during your lifetime.
- You can modify your gift to address changing circumstances.
- You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
A valuable asset you can donate in exchange for powerful tax benefits. Transfer of stocks and bonds allows a donor to enjoy an income tax charitable deduction for the full market value. Contributions of personal property are available for things great or small, to benefit efforts such as our annual Wine Tasting Charity Auction, to deeding of real estate property for the purposes of resell.
Gifts Of Stock And Appreciated Assets
How It Works
- You transfer appreciated stocks, bonds, or mutual fund shares you have owned for more than one year to FMC.
- FMC then sells your securities and uses the proceeds to benefit patient care.
- You can use our Stock Transfer Form to facilitate the gift.
- You receive an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.
- You pay no capital gains tax on the transfer when the stock is sold.