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Planned Giving Made Easy

Catherine Noel

Catherine Noel

Catherine Noel chuckles whenever anyone calls her a philanthropist. She insists she's simply a good businesswoman who made a good investment by donating a charitable annuity to Lee Health. She receives monthly annuity income for the remainder of her life, and when she passes away the money goes to the Lee Health Foundation.

"If I put the money in a CD, the interest is ridiculously low," Catherine says. "I'm going to leave the money to Lee Health anyway, so why shouldn't they be using it now? And I get interest for life."

Charitable annuities are among the many ways philanthropists like Catherine can plan their giving—now and in the future—to the foundation.

Catherine wants others to know about the benefits of charitable annuities and how they can receive an income while also supporting the philanthropic arm of the hospital system.

"It's such a terrific thing," she says "You give it to them now when they need the money, and you receive an income. The beauty of it is it's partially tax-free."

Catherine says she and her late husband Conrad always supported Lee Health and made gifts to Golisano Children's Hospital. She continued after her husband passed away six years ago.

Thomas McDonald

Thomas McDonald

"Lee Memorial was very good to my husband before he died," she says. "They help a lot of people."

Other Ways to Give

Thomas McDonald of Bonita Springs surprised his wife Ellen by creating a scholarship in her honor. The Ellen McDonald Endowed Pediatric Nursing Scholarship Fund provides financial assistance for students on a career path in pediatric nursing.

"I was just delighted," says Ellen. "I'm a nurse, my daughter is a nurse and my granddaughter is a pediatric nurse in Washington. There are lots of people looking for a career but don't have the money for education. We can always use great nurses."

Ellen says the scholarship fund, which is administered by Lee Health, can also provide a boost to older students who are looking to specialize after receiving their registered nursing license.

"I loved nursing and was greatly honored by my husband," she says.

Like Thomas McDonald and Catherine Noel, you can deepen your connection to Lee Health with a gift that supports healthier lives in Fort Myers well into the future. To learn how, contact Ken Shoriak at 239-343-6053 or Ken.Shoriak@LeeHealth.org.

HIPAA

A charitable bequest is one or two sentences in your will or living trust that leave to Lee Health Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Lee Health Foundation, a nonprofit corporation currently located at 9800 South HealthPark Drive, Suite 405, Fort Myers, FL 33908, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Lee Health Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Lee Health Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Lee Health Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Lee Health Foundation where you agree to make a gift to Lee Health Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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