“I am very pleased with my Charitable Gift Annuities at Grace Cottage. I opened one in November, 1999 which pays me an annual return of 7.4%, and another in 2011, which pays $8.9%. It’s a very simple one-page contract to fill out, and the rate was based on my age at the time I signed the document and made the donation. I received tax benefits when I opened the annuities, and my quarterly payment is deposited directly into my bank account for as long as I live.
Not only am I earning much higher interest than I would in a Certificate of Deposit these days, but I have the satisfaction of knowing that my investment helps this unique community hospital that provides such great care.”
Outright gifts (such as gifts of cash or securities) go to work immediately and are essential. But a gift in the future—through a bequest or life income gift—may allow you to give more and ensure Grace Cottage can continue to be a center of health and wellness for future generations.
You can designate Grace Cottage as a beneficiary in your will, or you can name Grace Cottage as a beneficiary in your retirement plans, such as a 401(k), IRA, or pension plan. You can also make Grace Cottage a beneficiary of a life insurance policy or a donor advised fund. You should consult with your attorney or financial advisor regarding your legacy gifts.
Sample language for making a bequest:
To Give A Percentage of Estate: I give, devise, and bequeath to Grace Cottage Hospital, a 501(c)(3) nonprofit organization located in Townshend, Vermont, ___percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Trustees of Grace Cottage Hospital (Carlos. G. Otis Health Care Center, Inc.) for the general purposes of Grace Cottage Hospital and its related entities.
To Give A Specific Amount: I give, devise, and bequeath to Grace Cottage Hospital, a 501(c)(3) nonprofit organization located in Townshend, Vermont the sum of $_______ in cash or in-kind (or # shares of ______stock) to be used at the discretion of the Board of Trustees of Grace Cottage Hospital for the general purposes of Grace Cottage Hospital and its related entities.
To Give A Percentage of Estate for Specific Purposes: I give, devise, and bequeath to Grace Cottage Hospital, a 501(c)(3) nonprofit organization located in Townshend, Vermont, ___percent (%) of the rest, residue, and remainder of my estate to establish the “(Your Name)” Endowed Fund. The principal and interest of this fund will be used (fill in here).
Unless otherwise specified, all bequests are deposited into Grace Cottage’s Endowment Fund.
Grace Cottage Charitable Annuity
Would you like to support Grace Cottage and receive a secure source of fixed income now, or for the future? A Grace Cottage Charitable Gift Annuity guarantees you a fixed, attractive rate of return for life; a tax-deduction for your donation; income to you that is partially tax-free; and the personal satisfaction of supporting a vibrant local organization that provides community healthcare. After your death, whatever assets remain in your annuity become available to Grace Cottage to use as needed.
Grace Cottage pays rates recommended by the American Council on Gift Annuities. Sample rates and returns for a $10,000 donation in cash or securities (the minimum amount for a Grace Cottage Charitable Annuity) are:
A dual-life Charitable Annuity pays a lower rate but is attractive to many couples because it continues to generate income even after the death of one spouse.
A simple one-page contract, signed by you and Grace Cottage when the donation is made, is all that’s required to receive guaranteed annual payments for life, to you or to anyone that you designate.
For more information, call Andrea Seaton at (802) 365-9109.