"Planned giving works for me because my heart is bigger than my pocketbook. By naming the Family Health Partnership Clinic a beneficiary of my IRA, I can bestow a gift far more generous than I could afford to give while I am living." -Katrina Greening, FHPC supporter
Planned Giving - Leave a Legacy
Planned giving is a long range approach to giving. A planned gift to the Family Health Partnership Clinic will provide long-term financial security, letting the Clinic continue to meet the health care needs of the underprivileged in the county and expand our services.
Planned gifts can also provide you with many financial benefits beyond the ordinary tax advantages associated with cash contributions. They can help reduce or even avoid capital gains taxes or estate taxes.
Here are some planned giving options to consider:
Add the Clinic as a beneficiary to your will or living trust
A will or living trust represents your desires for distribution of your estate. For sample language you might consider adding to your will, click here.
Make the Clinic a beneficiary of an existing life insurance policy
You can designate a percent of your benefits to various beneficiaries.
Transfer ownership of a life insurance policy to the Clinic
You may have a policy that no longer serves the need originally intended, such as a policy your parents bought when you were a child or a policy established to protect a mortgage that is already paid. Simply sign a form to change ownership of the policy to FHPC. A tax deduction is available for cash value policies, and if the policy is paid off, no new dollars need to be spent.
Consider making the Clinic a beneficiary of a deferred income vehicle such as an IRA, pension plan or 401(k) Your employer or tax advisor can help you complete the proper forms to designate your beneficiary wishes.
Establish a charitable remainder trust for the Clinic
Through such a trust, you give an irrevocable gift to a charitable trust and receive an annual payment for life or for a specified term of years. You receive an immediate charitable tax deduction, bypass capital gains taxes if you make a gift of appreciated assets, and reduce or eliminate estate taxes and probate costs.
Direct your charitable dollars to the clinic fund at the McHenry County Community Foundation
Through the MCCF you may direct your charitable dollars to a specific fund of your choosing. Giving to MCCF allows you the choice of where your dollars are placed, such as in the Family Health Partnership Clinic fund. Donations to MCCF are placed in an interest-bearing account and optimize your giving. To learn more about MCCF please visit their website at
www.mccfdn.org or call 1-815-338-4483 or by email at
give@mccfdn.org.
Planning a gift such as the ones listed above is a major financial decision. Please consult with your financial advisor on the best option for you.
Consider a planned gift that will create a legacy for quality, affordable health care in McHenry County. To join the Legacy League and make a difference that will last a lifetime, contact Suzanne Hoban at 815-334-8987, ext 15 or hpclinic@mc.net.