Life Income Gifts

Your Life Income Gift to the UCH Foundation will make a difference in the level of care we are able to provide to our community and at the same time provide :

income for life for you and/or your spouse, and
a charitable income tax deduction.

The ways for you to make a difference with a life income gift are many. However, there are two considerations that apply to all Life Income Gifts to UCH Foundation.

A minimum gift is required, and
It is not a requirement that the gift be designated to benefit any specific department or program at University Community Hospital.

An overview of Life Income Gifts follows.

Charitable Gift Annuity
Essentially, an annuity contract.

You transfer assets to the UCH Foundation; in return we agree to make regular, fixed payments to you for the rest of your life.

The transaction is both a purchase of an annuity and a charitable contribution.

Your benefits include:

guaranteed, specified, regular income,
an immediate income tax deduction,
possible estate tax savings and,
if appreciated property is given, favorable tax treatment on the gain.

The amount of the income tax deduction depends on the amount of the gift, the age of the donor or donors when the gift annuity is purchased, life expectancy, and whether the annuity is for one life or two.

Charitable Remainder Annuity Trust
This gift provides you with a lifetime income and a charitable income tax deduction.

You select the payout rate (usually 5%-7%). The higher the payout rate, the lower the charitable tax deduction
Provides you and your spouse with an income every year for life.
If you fund the trust with appreciated securities, capital gains taxes are avoided.
You select the trustee - who may invest in almost any investment including tax free bonds.
You may designate the remainder of the trust to benefit any UCH program or department.

Charitable Remainder Unitrust
This is established when you transfer assets to a trustee for the benefit of UCH Foundation.

You continue to receive income from your interest in the property for your lifetime and/or that of another beneficiary, or for a fixed term of up to 20 years.

Because the UCH Foundation is given the remainder interest, you become eligible for substantial tax benefits.

Charitable Lead Trust
This trust makes an annual payment to UCH Foundation for a specified period. After that time, the property returns to you or your heirs.

Specifically:

You transfer property such as real estate, securities, bonds, partnership interests, or oil & gas properties to a trust.
The trust makes an annual payment to UCH Foundation for a specified period of time.
When the specified period ends, all property transfers out of the trust and back to you or your beneficiary (any non-charitable beneficiary). The property is generally appreciated and transferred with reduced gift or estate taxes.

These descriptions are designed to provide a very basic understanding of the Life Income Gift Options available to you and do not in any way represent all tax or income implications of each options described.

We respectfully request that you discuss any plans for Life Income Gifts to UCH Foundation with your Financial Advisor, in advance of making the gift. While we welcome your inquiries about planned giving to UCH Foundation, we are not Financial Advisors and cannot assist in that capacity.

Contact Us
Please contact Lorna Miller for details about UCH Life Income Gift programs. She can be reached at (813) 615-7886 or at lmiller@mail.uch.org if you prefer to send an e-mail to her.

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