A gift through your will or other planned gift will benefit Down East Community and also supports your estate tax or financial goals. The planned gifts of the past have created our strength today and your gift of tomorrow will do the same for future generations.
There are many ways to leave a lasting impact on a charitable organization. Planned gifts are the best means for ensuring that your charitable wishes are fulfilled while ensuring income and stability for you and your loved ones.
Here are a few examples of the different options available to you:
This is the simplest type of planned gift that requires only language in an individual’s will leaving cash, property or real estate to Down East Community. Bequests are revocable. If you have already established a provision in your will remembering Down East Community Hospital, please notify us so we may invite you to join our planned giving society.
Charitable Gift Annuities
These are contracts established between donors and the charity of their choice allowing the charity to enjoy the benefit of a more substantial gift while the donor receives a guaranteed payment each year from the charity. The American Council on Gift Annuities offers appropriate rates so charitable organizations are not competing based on rates offered to prospective donors.
Donors may name Down East Community Hospital as the beneficiary in whole or in part or as a contingency beneficiary of a qualified retirement plan (IRA’s, 401k’s, 403b’s, and more).
Life Insurance- Donors may name Down East Community Hospital as the beneficiary of their policy. Accepting life insurance does come with risk if the policy is one that is not paid.
These are a more sophisticated way of leaving a planned gift and can take on different forms (Charitable Remainder Unitrust (CRUT) or a Charitable Remainder Annuity Trust (CRAT)). Both types of Charitable Remainder Trusts provide for specific distributions for one or more beneficiaries for life with an irrevocable interest to be held for the benefit of a charitable organization.
Charitable Lead Trust
These are somewhat opposite of a Charitable Remainder trust in that the CLT is established with a distribution flowing to the charitable organization for a specified period of time. The remainder interest is retained by the donor and reverts to him or her or some other specified, non-charitable beneficiary.
This is not an all-inclusive list of the ways in which planned gifts may be received by Down East Community Hospital, however, it does give some good examples of the options open to you in your planning.
For more information about planned giving, please contact Community Relations at 207-255-0433.