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Types of Planned Gifts

Bequests

A bequest is a gift from your estate. It could be a transfer of cash, securities or other property. You can make a bequest to St. Luke’s Health Foundation by including language in your will or living trust, leaving a portion of your estate to St. Luke’s, or by designating St. Luke’s as a beneficiary of your retirement account or life insurance policy. 

Gifts of Stock

You may choose to transfer ownership of stock to the St. Luke's Health Foundation. We are able to provide general instructions on making this sort of gift, but are also happy to answer any specific questions you may have.

Charitable Trusts

The charitable remainder trust is a tax-exempt irrevocable trust designed to reduce the taxable income of individuals by first dispersing income to the non-charitable beneficiaries of the trust for a set time and then donating the remainder amount of the trust to the designated charity. You can set up a trust using cash, stock or real estate and you may designate your gift to support your favorite program or service or provide for perpetual funding of a program.

A charitable remainder trust offers you many rewards including generating income, tax benefits and the ability to make a significant gift to community health care at the end of your life.

Retirement Accounts

An easy way to make a legacy gift is simply to designate St. Luke’s as a beneficiary of your retirement plan. Funds in most retirement plans have never been subject to income tax. So, your heirs will usually have to pay income tax on the proceeds. Gifts to charitable organizations, like St. Luke’s, however are income tax free. An efficient tax and estate plan uses retirement funds to make your charitable gifts and distributes other assets for heirs.

With a gift from your retirement plan you can: save taxes, maintain control and flexibility, create a permanent endowment, honor someone with a memorial gift, receive naming recognition for your gift and/or support your favorite program or service.

Administrators of retirement plans use a standard form to change your beneficiary. This is true for an IRA, 401(k) or 403(b) plan. Please contact your bank, broker or plan administrator to obtain the correct form. If you have an employer sponsored retirement plan, please contact your Human Resources Department for the proper form.

Endowed Gifts and Named Funds

You can help support programs and services for future generations by establishing a named endowment fund to support a specific area or by giving to help grow an existing fund. St. Luke’s Endowments are monies held by St. Luke’s and invested to provide annual income for designated purposes. The “spending rate” represents a percentage of interest generated by the principal investment. The spending rate is set to permit the endowment to fund its stated objective while also growing the initial investment.

Like an endowment, a named fund can be set up to support a program or service that is of interest to the donor. Special purpose funds can also be named and funded similar to an endowment. However, these funds are used as needed and can be fully expended over time rather than being held indefinitely. The minimum amount to start a named or endowed fund is $25,000.

Legacy Society

Recognition for Our Generous Donors

Legacy Society members are individuals or couples who have generously named the St. Luke’s Health Foundation in their estate plans. These types of gifts help ensure that we can continue to support health care excellence long into the future. The intention of the Legacy Society is to build St. Luke’s Health Foundation’s endowment, to ensure that it will have the financial resources to provide excellent healthcare for future generations and to provide recognition for our generous donors.

Members of our Legacy Society will have their names published in our Annual Report (unless they request anonymity) and will be invited to special events.