Exclusive Interview… - Trinitas Hospital

Foundation Focus: News of the Trinitas Health FoundationFUNDRAISER BRIGHTENS THE HOLIDAYSThe holidays are just weeks away and the Trinitas Health Foundation is getting ready for its annualTree of Care fundraiser. Each year, Christmas trees adorn the Trinitas lobby. And, no Christmastree is complete without an abundance of decorations.By making a contribution to the Trinitas Health Foundation, participants can purchase ornamentsused to decorate the trees. Donations ranging from $10 to $1000 are used to help maintain state-ofthe-artequipment to provide the best possible care to the community.The ornaments are dedicated to loved ones, family members, and special people who have made adifference. Every gift that is made in memory of or in honor of someone helps the Foundation makea difference in the lives of patients at Trinitas Hospital.by Kathryn SalamoneIf you’d like to participate in the Tree of Care program, contact the Trinitas Health Foundation at (908) 994-8249or send your contribution to Trinitas Health Foundation, PO Box 259, Elizabeth, NJ 07207-0259.EARN MORE WITH A DEFERRED PAYMENT GIFT ANNUITYCharitable gift annuities are an idealway to fulfill your charitable givingobjectives because they can be tailoredto meet your individual financialneeds and timetable.With a standard charitable gift annuity,you can start receipt of paymentsimmediately. A Deferred Payment GiftAnnuity gives you the option of deferringreceipt of payments for a fewyears if you are currently earningenough money and you do not necessarilyneed additional monies now,but you will need or want moremoney in your retirement years. If thissounds appealing to you, now is agreat time to take advantage of thesehigher rates and at the same time,help Trinitas Hospital.Count the benefits:• You can supplement futureretirement funds with a knowndollar amount.• Your contributions are unlimited,unlike those for qualifiedpension plans.• You can secure a substantialincome tax charitable deductionimmediately.• You can receive secure paymentsthat are partly incometax-free.This is especially advantageous if yourtax bracket is higher now than youanticipate it will be in future years. Inaddition, the payment rate for adeferred gift annuity can be considerablyhigher than if you had yourpayments begin immediately.Example: Michael is age 50. Hegives $40,000 to establish a deferredpayment gift annuity, arranging forpayments to start when he reachesage 65. He itemizes his income taxdeductions, so he will be able todeduct $20,919. *Based on currentrates, Michael will receive $5,120each year ($957 of which is incometax-free) beginning at age 65, a rateof 12.8 percent.Sample: One Life Deferred Gift Annuity ScheduleBegin Age/ AnnuityPayment Age Rate How it Works50/60 9.4% You make the contribution now securing50/65 12.8% a current income tax charitable deduc-50/70 17.9% tion, and the Hospital agrees to pay youfixed payments for life starting at anydate you select.For more information, please contactNadine Brechner, Executive Directoror Florence Ruvolo, Director ofAnnual and Planned Giving of TrinitasHealth Foundation 908-994-8249.FALL 2007 29