Desert Mountains

Planned Gifts

Your Gift, Your Legacy 

Planned Gifts are also known as deferred gifts because in most cases these types of gifts are not actually received by Dignity Health - St. Rose Dominican (St. Rose) until sometime in the future.  Planned Gifts lay the foundation for the future of St. Rose and its healthcare mission in the greater Henderson and Las Vegas areas.  These future commitments stand on the shoulders of those early St. Rose benefactors whose philanthropic foresight helped make possible the current healthcare system that serves all the healthcare needs of thousands of people each month and has become the largest non-profit, faith-based healthcare system in southern Nevada.

There are many types of planned gifts that have been approved by Congress that offer many tax and personal financial benefits to donors and their families.  The reason for this is simple:  Congress wants to encourage people to support non-profit endeavors that can address unmet local community needs better and more efficiently than can the government.  Planned Gifts in most cases require some forethought and planning and should be discussed with family members and their professional advisors before making any gift commitment.  The St. Rose Dominican Health Foundation has expertise in all aspects of planned giving and stands ready to assist donors and their advisors on the best methods of making gifts to support our healthcare mission.

Types of Planned Gifts

A charitable bequest is the simplest and most common form of a planned gift.  A bequest to St. Rose is accomplished by indicating so in your Last Will and Testament or your Living Trust.  The language in your estate documents will dictate to your executor or successor trustee your wishes for all your heirs, including your favorite charities.  You can gift a particular asset (shares of stocks), a specific dollar amount or a percentage of your assets.  You can also state the purpose of the charitable bequest: area of greatest need, cardiology, cancer, pediatrics, etc.  The Foundation staff can assist you and your attorney on the proper terminology needed to leave a bequest in support of the St. Rose Dominican healthcare mission.  The staff can also share with you a variety of naming opportunities that are available in case you would like to honor someone with your bequest.

Beneficiary Designations
Another simple method of making a planned gift is to name the St. Rose Dominican Health Foundation as the beneficiary of an asset you own.  These are assets that are not under the control of your will or trust.  Examples of these so-called "will substitutes" are bank accounts, retirement plans, annuities, insurance policies, stock and savings bonds.  All that is necessary to designate the St. Rose Dominican Health Foundation as the beneficiary of all or some of the account is to fill out the beneficiary designation form that can be obtained from the custodian of the particular account.

Charitable Gift Annuities (CGA)
A St. Rose Dominican Health Foundation (Dignity Health) Charitable Gift Annuity is a very popular way to make a significant gift to St. Rose while at the same time gaining many personal financial benefits.  A Gift Annuity is an irrevocable gift that provides lifetime fixed income and a very nice charitable income-tax deduction to the donor(s) in the year the gift is made.  Gift Annuity rates are based on the age(s) of the donor(s), the older the income recipient(s) the higher the annuity rate.  For instance a single 75-year old currently qualifies for an annuity rate of 5.8%, while for two 75 year-olds the rate for a two-life gift annuity would be 5.0%.  The charitable income tax deduction is equal to approximately 50% of the amount and for a period of time, part of the annuity payment is considered tax-free income.  While the average Gift Annuity at St. Rose is $25,000, the minimum amount needed to fund a gift annuity is $10,000.  Charitable Gift Annuities are highly regulated and St. Rose gift Annuities are administered by Wells Fargo Bank.  Please contact the Foundation office to request a confidential gift annuity proposal based on your age(s).

St. Rose also offers Flexible Deferred Charitable Gift Annuities for our benefactors.  As inferred, the start date on deferred gift annuity payments commences at any time after the first year.  The longer a person waits to start the annuity payments the higher the payments will be to the income recipient(s).  This type of gift annuity is for the person or couple not needing immediate income but might need it in the future to meet expenses such as long-term care expenses.  Some donors fund deferred gift annuities to provide retirement funds for relatives or long-time trusted employees similar to a personal "pension" plan.  

Charitable Remainder Trusts (CRT)
A more sophisticated and powerful type of planned gift is a charitable remainder trust (CRT).  CRTs permit donors to make significant gifts while at the same time: (1) earn fixed or variable income for life or a term of years, (2) avoid capital gain taxes on the sale of highly appreciated assets (securities and real estate), (3) receive a generous charitable income tax deduction at the time of the gift and (4) remove an asset from your taxable state.  Since CRTs are trusts, the establishment of one requires the services of a knowledgeable attorney and the involvement of your personal professional advisors.

CRTs are normally used for people who are both philanthropic and own highly appreciated, low yield properties.  CRTs work best for gifts exceeding $250,000.  To obtain more detailed information about CRTs please contact the Foundation to arrange a confidential, non-obligation meeting with a staff member well versed in all aspects of charitable gifting.

Retained Life-Estate Gifts
A retained life-estate gift is usually a property that is irrevocably deeded to St. Rose, but the donor retains the right to live in it for the rest of his or her life.  It is wonderful gift option for seniors who have no heirs yet want to get their "estate in order" and also want to make a significant gift to St. Rose during their lifetime.  The donor of a life-estate gift receives an immediate charitable income tax deduction based on the remainder value of the property.  While the donor lives in the property he or she is still responsible for the maintenance, insurance, taxes and other ongoing expenses as if he or she still owned the property.  In addition to primary residences, farms and vacation homes are often used to establish a charitable life-estate agreement. 

For additional information about Planned Gifts, please call the St. Rose Dominican Health Foundation at 702.616.4545.