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Planned Giving

Planned gifts are important to any organization focused on securing its future. Through planned gifts donors help to improve healthcare for our entire region and create a legacy at the same time. Plus, donors can often make more significant gifts to their favorite charities while improving upon their tax situations and using accumulated assets they may no longer need.

IM G 7255doctorThese kinds of gifts may be structured through a variety of vehicles, including bequests in wills, the creation of various types of charitable trusts, assignment of life insurance or retirement benefits, and creation of income-producing vehicles, such as gift annuities.

Planned giving at Mount Nittany Health Foundation combines charitable giving with responsibility to loved ones and prudent financial planning. Mount Nittany Health Foundation will work with you and your advisors to help you accomplish your goals through planned giving. You will be providing assistance to others (the charitable gift part) while taking care of family members (the personal part), not to mention minimizing your taxes (the common sense part).

A Simple Bequest

"I give/bequeath the sum of $[####.##] to Mount Nittany Health Foundation," or "I give/bequeath [##]% of my residual estate to Mount Nittany Health Foundation."

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 Mount Nittany Health Foundation 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. For example: "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 Mount Nittany Health Foundation."

Named Beneficiary of an Insurance Policy, IRA or 401K

A relatively easy way to assist Mount Nittany Health Foundation is to name us as the beneficiary of a life insurance policy or a retirement plan, such as a 401K. Often these policies are initially taken out for specific reasons that no longer exist (for instance, to protect young children or to pay for college). By naming Mount Nittany Health Foundation as a new or partial beneficiary, you will be accomplishing a great deal of good and could likely also obtain 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 before making a decision to name Mount Nittany Health Foundation as a beneficiary of any type of planned gift for tax implications.