Planned gifts can be deferred, meaning they are arranged now and fulfilled later, or arranged to benefit both the donor and Day Kimball Healthcare now and/or in the future. There are several different types of planned gifts - all are wonderful ways to leave a meaningful legacy in support of your community hospital and a cause that's close to your heart.
Gifts by Will are a simple and inexpensive way to support Day Kimball Healthcare when created as part of one's estate planning. Simply include a provision in your will to make a bequest to the Day Kimball Healthcare Foundation and if applicable, any caveats for use of the funds, i.e. a specific fund, program, or service area you wish to support. Gifts to the Foundation without specification will be designated as unrestricted and used where deemed necessary in alignment with DKH's goals and priorities.
A donor may make a gift of life insurance by naming the Day Kimball Healthcare Foundation as the owner, primary or successor beneficiary, or irrevocable beneficiary of a whole-life policy. The gift may be a paid-up policy or an existing policy with cash value.
A charitable remainder trust provides income to the donor (or another person the donor designates) for a period of time, usually for life. After this gift-deferral period, the trust would terminate or "mature", and the remaining assets donated to the Day Kimball Healthcare Foundation as stipulated by the donor.
In a charitable lead trust, a donor places assets in a trust that pays out income to the Day Kimball Healthcare Foundation for a set period of years. Then, when that period of time is over, the trust will terminate or "mature", and whatever remains goes back to the donor or to someone else stipulated by the donor.
This is a popular form of planned giving because it represents a lifetime contract between the donor and the Day Kimball Healthcare Foundation, and because it is relatively simple to understand and establish. For example, a donor gives $25,000 to the Foundation and receives, in return, a set amount of money (the annuity) every year for the rest of his or her life. The donor also has the choice of naming someone else as the annuitant to receive the annuity payments.
For more information on planned giving and the various ways you can leave a legacy that supports healthcare in our community, contact Kristen Willis, Director of Development at (860) 928-7141 or by email at KEWillis@daykimball.org