CHARITABLE GIFT ANNUITY HELPS DONORS ACHIEVE FINANCIAL GOALS
Herman and Carol Gordon of Summerlin, moved to Las Vegas after retiring from their government careers in the Washington, D.C. area, and moving from their first retirement home in Nashville, TN. Upon arriving in Las Vegas, the Gordons contacted the St. Rose Dominican Health Foundation about St. Rose’s Gift Annuity Program, in order to help them achieve their financial, charitable and estate planning goals.
After discussions with the Foundation’s Planned Giving Director, Bob Berube, CFP, the Gordons decided to fund a St. Rose Flexible Deferred Charitable Gift Annuity. This type of Gift Annuity would allow the Gordons to achieve a number of their goals, while making a very significant gift to the healthcare mission of St. Rose Dominican Hospitals.
While the Gordons did not have a need for more current income, they did anticipate that at some time in the future, they would need more income to meet unexpected expenses. The flexible feature of this type of Deferred Gift Annuity allows the Gordons to begin annuity payments when they do need them by simply notifying the St. Rose Foundation. The longer the payments are deferred, the higher the payments will be to the Gordons when they begin receiving their quarterly annuity payments.
Since Gift Annuities are irrevocable gifts, the Gordons were entitled to a substantial charitable income-tax deduction when the annuity was established. This deduction came in handy to the Gordons because they funded the annuity with the cash proceeds from the sale of savings bonds that they had purchased many years ago but were no longer paying interest to them. The tax due from the sale of the bonds was then partially offset by the charitable income-tax deduction they received when the Gift Annuity was established.
The Gordons were so pleased with the benefits, both financial and charitable, that they have since funded two additional St. Rose Gift Annuities. Herman Gordon said, "Among the thousands of charitable organizations offering charitable gift annuties we were attracted to St. Rose because we repeatedly heard of the elegant patient care provided by the St. Rose institutions, not to mention the care and concern the Health Foundation staff showed for our retirement needs and desire to contribute tothe community. This patient care opinion on St. Rose was reinforced by results of a Medicare patient survey that appeared in the Las Vegas Sun on April 8, 2008."
For information on how you can tap into the many benefits of a St. Rose Charitable Gift Annuity, please contact Bob Berube, at (702) 616-5750 or email Bob at bberube@chw.edu.
