Planned Giving Options
Many dedicated friends of Central Washington Hospital have pledged all or part of their personal estate to Central Washington Hospital Foundation and are now a part of our “Legacy Society.” These generous individuals are helping to provide for the future of quality healthcare in our community for countless generations to come.
You can join this group of dedicated community members and provide now for a future gift to Central Washington Hospital by including a bequest provision in your will or revocable trust. Your will or trust directs assets that will directly benefit Central Washington Hospital. You remain in control of those assets during your lifetime and can direct the assets to the area of greatest need for Central Washington Hospital, or to a specific area of your choice.
Please contact your attorney to update your will, codicil, or trust with specific language directing your bequest to Central Washington Hospital Foundation.
Charitable Gift Annuities:
Another option to consider in your estate planning is to set up a Charitable Gift Annuity. Donors transfer cash or securities in exchange for Central Washington Hospital Foundation’s promise to pay a fixed annuity to one or two individuals for life. Donors achieve the security of a lifetime income while at the same time directly benefiting Central Washington Hospital.
Donors transfer ownership of a paid-up life insurance policy to Central Washington Hospital Foundation. The Foundation then elects to take the cash value of the policy for the benefit of Central Washington Hospital, or may hold on to the policy to later take the full benefit of the policy. The donor then receives an immediate income tax deduction for the cash value of the policy, and has the satisfaction of knowing they are contributing to quality healthcare at Central Washington Hospital.
Under the extended charitable IRA legislation, you can make a charitable gift from your Individual Retirement Accounts (IRAs) without suffering tax consequences. You can make your gift now, while you are living, and can see the many benefits of your generosity.
You can make your charitable contribution to Central Washington Hospital Foundation through your Roth IRA if you are at least 70 1/2 years old and you transfer funds directly from your IRA. Charitable distributions may be made in any amount up to $100,000 per year. Couples with separate IRAs may also give individually up to $100,000.
Please consult your tax professional if you are considering making a gift under the extended law.