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| | Our Vision
Lake Chelan Community
Hospital FOUNDATION is dedicated to generating and managing donated
funds to ensure healthcare facilities and services meet the needs of our
community.
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Ways to Give
The following ways of giving are coordinated by the Lake
Chelan Community Foundation. Please click
here to learn more about this organization.
Gifts of Cash
Gifts of cash make
an immediate impact on programs and services. It is the most common
gift and the one you probably think of first. All cash donations are
deductible if you itemize in the year of contribution, up to a limit of
50 percent of your adjusted gross income, less any required reductions
based on your income. Any excess contributions may be carried forward
for the next five years. We accept gifts in the form of cash, check or
credit card (Visa, MasterCard, American Express and Discover). Click
here to download a donation form.
You can mail donations to:
Lake Chelan Community Hospital Foundation
PO Box 1911
Chelan, WA. 98816 Annual Giving Campaign
Each year we direct an annual campaign targeting funds for specific hospital needs.
Gifts of Appreciated Assets
Gifts
of appreciated assets often offer valuable tax advantages. You may
receive a charitable income tax deduction for the full value of the
gift. You may also save on capital gains and state taxes. Call the
Foundation Office at 509.682.6125 for information to transfer
appreciated assets to Lake Chelan Community Hospital.
Memorial & Honor Gifts
You
may also donate a gift in memory of a friend or loved one. This may be
accomplished at the time of death or on the anniversary of a
significant date, such as a birthday or a holiday. A donation can be
made in honor of anyone you choose on the occasion of his or her
birthday, graduation, anniversary or other opportunities. It is the
perfect gift for thanking or recognizing someone special - or a gift
for someone who has everything.
Life Insurance Gifts
Do you have
life insurance policies that are no longer needed? You may either
donate the life insurance policy to Lake Chelan Community Hospital
Foundation or simply name us as the beneficiary of a life insurance
policy. For the gift of a paid-up policy, you will be entitled to an
income tax deduction equal to the lesser of the cash value of the
policy or the total premiums paid. To qualify for the federal
charitable contribution deduction on a gift of an existing policy, you
must name the charity owner and beneficiary. Even if you are still
paying premiums on your policy you can give it away, and future gifts
to us to pay the premiums will be tax deductible. Of course, the
easiest way to use life insurance for charitable giving is to simply
name Lake Chelan Community Hospital Foundation as the beneficiary of a
policy. There are no current tax benefits to this arrangement, because
it is not irrevocable, and it is only partial interest in the policy;
however, it provides a very generous gift with attractive tax benefits
upon your death.
Gifts of Property
a. An
Outright Gift
- If you own property that is fully paid off, has appreciated in value
and that you no longer need or use, such as a second home or vacation
property, an outright gift may be the simplest solution. You can deduct
the fair market value of your gift and avoid all capital gains taxes.
Plus, you no longer have to worry about the carrying costs of continued
ownership, and you have removed that asset from your taxable estate.
b. Retained Life Estate - Did you know you can
transfer the deed of your personal residence or farm to Lake Chelan
Community Hospital Foundation now, and keep the right to use the
property for your lifetime and that of your spouse? You will receive a
current charitable deduction in an amount that is based upon your life
expectancy and the value of the property.
c. Tangible Personal Property - Many items of
tangible personal property make suitable charitable gifts. The
available tax deduction depends on whether or not the charity will use
the property in a way that is related to its tax-exempt purpose.
Estate & Planned Gifts
a. Planned
Gifts
- Through planned giving, you can make provisions for Lake Chelan
Community Hospital to receive a gift at some time in the future,
usually after your death. There are a variety of planned giving options
that provide significant tax advantages, both to you and your heirs.
b. Bank Accounts and CDs - Are you aware that you
can name Lake Chelan Community Hospital as the "payable-on-death
beneficiary" of your bank accounts (savings or checking) or on any
certificates of deposit? You own the assets for your lifetime and have
them available for your use. Upon your death, the assets pass directly
to us without going through probate. Simply visit your bank and request
to name a beneficiary on your accounts or CDs. You will be asked to
fill out a form to change your beneficiary designation anytime you wish.
c. Specific Bequests - Bequests are the most
popular type of planned gifts. Anything you leave to charity will
reduce the size of your taxable estate while helping a good cause. Made
through a will, specific bequests direct a designated amount or
specific estate assets to Lake Chelan Community Hospital.
d. Residual Bequests - Made through a will, residual
bequests consist of all or part of the estate that remains after
specific bequests are honored.
e. Contingent Bequests - Made through a will,
contingent bequests designate assets to Lake Chelan Community Hospital
in the event of a death of another beneficiary.
f. Trust Remainder Bequests - Created by a will or
lifetime trust agreement that provides an income stream to a loved one,
trust remainder bequests consist of all or part of the remaining trust
principal after the death of the beneficiary.
g. Charitable Remainder Trusts - Separately
invested trusts created by a gift of cash or appreciated property. The
trust pays the donor or designated beneficiaries an income stream for
life or a specified period of time. At the termination of the trust,
the assets are transferred to Lake Chelan Community Hospital Foundation.
h. Charitable Gift Annuities - Personal annuity
funds are established between a donor or donors and Lake Chelan
Community Hospital Foundation. The donor uses a gift of cash or
appreciated property (such as stock) to fund the annuity. The annuity
pays the donor or designated beneficiary income for life. At the end of
the designated time, the balance in the annuity is transferred to the
Lake Chelan Community Hospital Foundation. The full faith and assets of
the Lake Chelan Community Hospital Foundation back each charitable gift
annuity.
Major Gifts and Campaigns
Individuals,
corporations
and foundations are invited to consider major gifts of
$25,000 or more to hospital programs and capital projects of importance
to the donor. During periods when major capital needs are present at
the hospital, the entire family of Lake Chelan Community Hospital's
staff, volunteers and donors join in major gifts capital
campaign. Depending upon the size of the donation, the Hospital would
love to name a room, wing or special-purpose room after a name of your
choosing. Call the Foundation at 509.682.6125 for further information. Foundation
• Ways
to Give • Scholarship
• Annual
Giving Campaign
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