Planned Giving

Planned Giving at The Foundation for Mount Nittany Medical Center combines charitable giving with responsibility to loved ones and prudent financial planning. The Foundation for Mount Nittany Medical Center and its advisors can help you accomplish your goals through Planned Giving. You will be able to provide assistance for others (the charitable gift part), while taking care of family members (the personal part), all the while, minimizing your taxes (the common sense part).

A simple bequest

"I give/bequeath the sum of $[####.##] to The Foundation for Mount Nittany Medical Center." or "I give/bequeath [##]% of my residual estate to The Foundation for Mount Nittany Medical Center."

In either case, if you wish, you can add a line about how you would like your eventual donation to be used, determined after consultation with The Foundation for Mount Nittany Medical Center staff.

A simple codicil

If your will is already written, a simple codicil (or amendment), using language similar to what appears above, is all that’s needed, such as: "This is a codicil to my will dated       . In addition to the provisions in that document, I also wish to leave the sum of $ (or __% of my residual estate) to The Foundation for Mount Nittany Medical Center."

Named beneficiary of an insurance policy, IRA or 401K

A relatively easy way to assist The Foundation for Mount Nittany Medical Center is to name it as the beneficiary of a life insurance policy or a retirement plan (i.e., IRA, 401K). Very often, these policies are initially taken out for specific reasons that no longer exist (to protect young children or to pay for college). By naming The Foundation for Mount Nittany Medical Center as a new or partial beneficiary, you will be accomplishing a great deal of good and, quite possibly, also obtaining tax benefits, since these assets are subject to both income tax and estate tax if left to children or grandchildren (please consult a qualified financial professional/advisor for details).

IRA Rollover Provision

Recently made retroactive to Jan. 1, 2008, and applies to gifts made from that date through Dec. 31, 2009, the provision exempts from taxable income any funds transferred ("rolled over") from an Individual Retirement Account (IRA) to a charitable organization.The following limitations apply:

• The donor must be age 70½ or older.
• The cap on annual IRA rollovers is $100,000.
• The contribution must be a direct gift to a charity (no planned gifts).