If you have made a provision in your will or estate plan for PeaceHealth Southwest, please let us know about it as it helps us plan for the future. Thank you.
Columbia Society benefits include:
Filling out the Columbia Society Letter of Commitment
will begin your membership in the Society and inform us about your planned gift.
Charitable Life Income Fund (CLIF)
The Charitable Life Income Fund (or CLIF for short) is just one of many strategies that take advantage of tax laws developed to encourage and reward the spirit of philanthropy. Operating like a charitable mutual fund, a Charitable Life Income Fund is comprised of contributions that are pooled and invested together into income-producing real estate. Click here to download our detailed white paper on the CLIF.
Major benefits of the CLIF include:
- Receive lifetime income based upon the fair market value of your gift
- Avoid capital gain taxes related to the sale of highly appreciated assets
- Receive a substantial charitable income tax deduction, which may reduce taxable income for the year in which the gift is made—with potential carry forward if applicable
- Pass a portion of the depreciation on the real property owned by the fund to the donors/income beneficiaries, which may partially shelter income
A bequest is simply a gift to the Foundation made through your will or living trust. It is the most popular type of planned gift because it allows donors to retain full ownership and use of their assets for as long as they live. It can also be revised if circumstances change.
A bequest is quite flexible: you can indicate that the Foundation is to receive a specific sum of money, a particular asset, or a certain percentage of your estate, and you can even make a bequest contingent on various factors; e.g., "if my spouse does not survive me."
In addition, charitable bequests qualify for a dollar-for-dollar estate tax deduction. Our sample bequest language will provide you with appropriate wording.
Charitable Gift Annuities
The PeaceHealth Southwest Foundation is one of only a small number of local organizations authorized to enter into annuity agreements with donors.
In exchange for a contribution of cash (or other assets) worth at least $5,000, the Foundation contractually guarantees to pay you (or anyone you designate) a fixed amount each year for life, regardless of what happens to financial markets in the years ahead. You receive a current income tax deduction for part of the value of your contribution, and a portion of the annuity payments will be taxed favorably for many years to come.
As with a bequest, a gift is completed only once your life has ended. This means you need not risk parting with an asset prematurely. Designations are typically made in connection with IRAs, 401(k) plans and other qualified retirement plans, but they can also apply to things such as bank or brokerage accounts, U.S. savings bonds and commercial annuity contracts. Moreover, it is often better from a tax standpoint to leave such assets to a charitable organization and use other assets to provide for loved ones.
Life Insurance Gifts
Even though it is always possible to designate the PeaceHealth Southwest Foundation as the recipient of some, or all, of the eventual proceeds of a life insurance policy, there can also be current income tax advantages if the Foundation is made the actual owner of a new or existing policy.
For further information about becoming a Columbia Society member, or for more information about the CLIF or about making a planned gift, contact Carol Van Natta, Executive Director, at the Foundation office at (360) 514-3670 or by e-mail: email@example.com
Carol is available to meet with you to explore the various planned giving options. We encourage you to seek independent legal/tax counsel as well. If you do not have your own advisors, we can provide you with a list of qualified professionals in our area.