Make Your Gift in 3 Easy Steps
You can retain the versatility offered by the classification of the beneficiary by using:
- IRAs and retirement plans
- Life Insurance policies
- Commercial annuities
There are three easy steps to making a gift.
- Ask your plan administrator, bank or financial institution, insurance company for a change-of-beneficiary form.
- Name us and the percentage (1 to 100) you would like us to receive on the beneficiary form.
- Return the completed forms to your plan administrator, bank or financial institution.
Wills and Living Trusts
You would like to leave money in your will to the Greater Fairbanks Community Hospital Foundation. Also, if life circumstances change, you want flexibility to change your will. You can do both of these.
There are several types of legacies that allow you to designate the distribution of your estate:
General Bequest: Usually this type of legacy is a gift of a stated amount of money not specifying the source from which it should be paid. This gives your executor the flexibility from any available source to honor the legacy.
Specific legacy: A specific legacy is one in which you provide the recipient with a fixed amount of the dollar, a particular commodity, or a percentage of your property. If you want to leave a specific dollar amount or things (such as stocks or bonds, land or jewelry, artwork or other tangible personal property) this is the kind of legacy you'd use.
Residual legacy: This form of legacy is honored after all other legacies have been met and all liabilities, expenditures and taxes paid. This legacy may be all or part of your estate's balance.
Conditional Bequest: The Greater Fairbanks Community Hospital Foundation is appointed by a conditional bequest as the beneficiary of your estate or a part thereof only in the event of a given circumstance. If certain conditions are met, this sort of legacy will be fulfilled. For example, if your primary beneficiary does not survive, you can use a contingent designation to indicate your next choice for a recipient.
For Professional Advisors-
We understand that gifts to non-profits such as the Greater Fairbanks Community Hospital Foundation can be an important component of your clients’ financial and estate planning. Feel free to contact us for more information and assistance.
Tools for Professional Advisors
Legal Name: The Greater Fairbanks Community Hospital Foundation
Federal Tax ID Number: 92-0035784
Date Organization Established: November 26, 1968
Address: 1650 Cowles Street, Ste. 542
Fairbanks, AK 99701
PO Box 71396
Fairbanks, AK 99707
Phone Number: (907) 458-5550
IRA Tax Free Gifts
Did you know that if you are 70 ½ years old or older you can give up to $100,000.00 from your IRA directly to a qualified non-profit such as ours without having to pay income taxes on the money?
Reasons to consider this way of giving:
- Your contribution will be used every day, allowing you to see how your donation is making a difference.
- You don’t pay any income taxes on the donation.
- If you have not yet completed your required minimum distribution for the year, your IRA charitable rollover donation may meet all or part of that requirement.
You should always consult your tax professional and/or financial advisor when considering a charitable gift.
We are a 501(c)3
The Greater Fairbanks Community Hospital Foundation is a 501(c)3 organization as confirmed by the Internal Revenue Service.
Our federal tax identification number is 92-0035784.