Legacy gifts are made when donors doing gift planning as part of their
financial and/or estate plans wish to include support for one of the
University Healthcare Foundations. Assets may include (but are not
limited to) cash, securities, tangible personal property, life insurance
policies and real estate.
Your participation can be an inspirational experience for you
personally, and may also encourage others to look toward the future and
how they too may have an enduring impact on the causes they care about.
Legacy giving does not require a large income or vast estate. It only
requires a thoughtful intention to make a difference by identifying a
charitable organization in your will or estate plan.
Legacy gifts have been integral to the growth of University Healthcare.
The Dorothy A. McCormack Center exists because of the visionary gift of
Leonard McCormack in memory of his wife, Dorothy.
When making a legacy gift in this planned way, a donor can achieve
objectives such as earning more income, avoiding capital gains tax,
reduced income taxes, an opportunity to provide children with assets at a
later date, and reduced gift or estate taxes.
Gift planning methods include:
Bequest
Provisions made in a Will or Living Trust to transfer funds/securities to one of the foundations after death.
Gift Annuity
A gift to one of the foundations in return for payment to you (and/or
another) from an annuity, as well as an income tax deduction. The
annuity may be payable over the lives of one or two living individuals.
Charitable Remainder Trust
A tax-exempt trust divided into income and gift portions.
Charitable Lead Trust
Allows the donor to transfer assets to future generations of family
members while allowing a University Healthcare foundation to use the
investment income for a limited period of time.
Real Estate
Gifts of a personal residence, all or part of a vacation home,
commercial property, farm or other real estate either as an outright
gift or as part of a life-income plan.
Life Insurance
One of the foundations may be named as the owner with full ownership
rights of a paid up life insurance or in-force life insurance policy.
To leave a tax-deductible gift to the City Hospital Foundation or the
Jefferson Healthcare Foundation, we encourage you or your legal advisor
to contact the planned giving staff to discuss the legal language you
plan to use in your will or trust document. Some individuals choose to
support something specific or create an endowed fund to honor or
memorialize someone special. If either of these concepts is of interest
to you, please contact us so we can assist you further. This
confidential service is available to you without obligation.
Please note all gifts should be prepared designating one of the
University Healthcare foundations as the beneficiary. The foundations
are the official organizations which receive and administer gifts on
behalf of the member hospitals.
This information is intended as a general guide for the use of
attorneys. It is not offered as, or intended to be, legal advice. We
hope you will tell us when you have named the City Hospital Foundation
or the Jefferson Healthcare Foundation in your will or trust. We would
very much like the opportunity to thank and recognize you for your
generosity.
Sample bequest language:
I give, devise and bequeath [the sum of $______________ in cash] or [___
shares of stock in _______________] or [all of my interests in the
following described property: ________________] or [all or ________
percent (____%) of the residue of my estate] to [City Hospital
Foundation, Inc. or Jefferson Healthcare Foundation, Inc.], a West
Virginia nonprofit corporation, having its principal office at 2000
Foundation Way, Suite 2310, Martinsburg, West Virginia, 25401, to be
used to further the general purposes thereof.
Beneficiary designation of life insurance policy, retirement plans or financial accounts:
Provide insurance company, administrator of retirement plan, or
financial institution with the required form and complete the
beneficiary designation section as required using the following
information:
City Hospital Foundation, Inc.
2000 Foundation Way, Suite 2310
Martinsburg, WV 25401
Federal ID #31-1118075
– or –
Jefferson Healthcare Foundation, Inc.
2000 Foundation Way, Suite 2310
Martinsburg, WV 25401
Federal ID #55-0768901
To learn more about legacy giving at University Healthcare, call 304.264.1223 or email giving@wvuhealthcare.com.