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Planned Giving

Bequests

A bequest is a direction by Will to give property. Bequests may be stated as a percentage of an estate, as the residual of the estate or as a specific dollar amount. Bequests could include money, investments, property, real estate or other parts of an estate.
 
The Heart of Hawthorne Foundation can provide sample bequest wording for bequests. All gifts must be accepted in accordance with our Gift Acceptance Policy.
 
By remembering Hawthorne in your Will, you can build a lasting legacy. Gifts of a specific cash amount or asset or a percentage of the remaining estate, after you have taken care of your loved ones, are common bequest choices. Your estate and your heirs can realize significant tax advantages while your generosity will sustain our important and ongoing work to build the quality of life for our residents.

Securities

Giving a gift of stock, bonds, or property to the Heart of Hawthorne Foundation can be a very effective way to minimize the tax paid on current income. More importantly, such gifts can make a tremendous difference in the lives of the seniors living at Hawthorne at a lower cost to you than making an outright gift of cash.
 
The value of the gift is the market value on the date the donor relinquished control of the asset to the Heart of Hawthorne Foundation. Neither losses nor gains realized from the sale of securities after their receipt by the Foundation, nor brokerage fees associated with this transaction, will affect the value of the gift.

Real and Personal Property

Gifts of real and personal property such as land, houses, paintings, antiques, rare books and intangible properties will be valued at the fair market value placed on them by an independent expert appraiser. It is the responsibility of the donor, not the Heart of Hawthorne Foundation to obtain an appraisal of the gift for tax purposes. 

Gifts of Life Insurance

The Heart of Hawthorne Foundation will accept gifts of life insurance policies, but will ordinarily not make payments for premiums on such policies unless the donor agrees to make a separate gift to cover the premium cost.
 
A donor may retain the ownership of a life insurance policy and designate Hawthorne as the beneficiary. Alternatively a donor may assign the ownership of the policy to the Foundation, while continuing to be responsible for premium payments (unless the policy is fully paid).
 
The gift may be in the form of a new policy or an existing policy. The policy may insure the donor, or the donor and another person, such as a spouse (i.e. a survivorship life policy). Premium payments may be made directly by the donor, or the donor may wish to give cash payments to the Heart of Hawthorne Foundation and allow it to pay the premiums. Upon the death of the insured individual(s), the life insurance proceeds are paid to the Foundation.
 
If the Heart of Hawthorne Foundation is both beneficiary and owner of an insurance policy, the value of the gift is the cash surrender value of the policy at the time it was donated to the Foundation, not the policy’s face value.
 
If the Heart of Hawthorne Foundation is the beneficiary, but not the owner of an insurance policy, the full amount received upon the death of the donor is the value of the gift.

Endowed Gifts

You can make a gift that provides ongoing funding to Hawthorne. An endowment is created with a donation of capital that is held in perpetuity. Only the interest and dividends from the investments is distributed to Hawthorne. Your endowment gift can be made during your lifetime or through your estate.

Charitable Remainder Trust

A charitable remainder trust (CRT) is an irrevocable trust that permits a donor to make a deferred charitable gift and receive an income tax credit in the year in which the trust is established. The donor designates one or more individuals (often the donor and spouse) to receive an income interest in the trust for life, or for a specified term, with the remainder interest (the assets in the trust when income interest ends) passing to the Heart of Hawthorne Foundation.
 
The Heart of Hawthorne will work with donors as needed to establish CRT's. A donor may serve as trustee of the CRT or may designate a bank, charity or other person as trustee.

Charitable Gift Annuities

A charitable gift annuity is a planned giving device whereby a donor transfers money or property to the Heart of Hawthorne Foundation in return for the Foundation's agreement to pay the donor and/or another person a fixed annuity for life. At the death of the annuitant(s), the annuity payments cease. The charitable gift annuity differs from a charitable remainder trust because there is an immediate gift to the Heart of Hawthorne Foundation.
 
The Heart of Hawthorne Foundation is willing to consider proposed charitable gift annuities (3rd party only), but must take special care to avoid entering into any annuity agreement that may require the Foundation to use any funds of the Heart of Hawthorne (other than funds received from the donor and income earned thereon) to disburse the annuity payments to the annuitant(s).
 

If you would like to learn more about any of the above gift planning opportunities, please contact:

Lenore Pickering at 604.468.5003
lpickering@hawthornecare.com

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