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Planned Giving

An Investment in Cape Cod Healthcare’s Future

Planned GivingBy making a planned gift, you can make a significant gift to Cape Cod Healthcare and gain financial and tax benefits for you and your family.

There are several types of gifts that first pay income to you, your family, and then ultimately benefit Cape Cod Healthcare. Below are various forms of charitable gift plans to consider. We would be delighted to work with you and your advisors in arranging planned gifts that best suit your family, financial, and philanthropic objectives.

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Beacon Society

Members of Cape Cod Healthcare's Beacon Society are those who are making a commitment that will benefit our organization in the future. Such charitable gifts include Bequests, Trusts, Charitable Gift Annuities and Pooled Income Funds. We are grateful to each member of the Beacon Society for supporting our vision and investing in the future of our health system.

Gifts That Pay You Income

Charitable Gift Annuity: The Charitable Gift Annuity is among the oldest, simplest, and most popular of the charitable life-income plans. In exchange for a transfer of cash, marketable securities, or, in some circumstances, real estate, we contractually guarantee to make specified annuity payments to you and/or another beneficiary for life. The payout rate depends on the age(s) at the time of the gift.

Benefits:

  • Fixed payment for life lines (2 maximum)
  • Allowable federal income tax deduction
  • Part of payment is tax-free

Charitable Remainder Trusts (CRT) : The growing popularity of charitable trusts can be credited to the financial- and estate-planning flexibility they afford. With a CRT, assets are placed into the trust which provides income to the pre-determined beneficiary or beneficiaries. At the end of the term of trust, "the remainder" distributes to Cape Cod Healthcare. The donor selects the rate of return and trustee of the trust.

Benefits:

  • Beneficiaries enjoy income from trust (without managing the property)
  • May realize significant federal charitable deduction in year of gift
  • Reduction of estate settlement costs
  • Avoidance of capital gain in some instances

Charitable Remainder Annuity Trust (CRAT) : Instead of a variable payout, the CRAT pays beneficiaries a fixed amount for the entire trust term. The donor selects the trustee and rate of return, as allowed by law. This is particularly suitable for a beneficiary who desires security of a specific fixed amount.

Benefits:

  • Beneficiaries enjoy fixed income from trust (without managing the property)
  • May realize significant federal charitable deduction in year of gift
  • Reduction of estate settlement costs

Pooled Income Fund: A fund managed by Cape Cod Healthcare's trustee in which gifts are “pooled” for investment purposes with income shared proportionately among the participants. The rate fluctuates with the market.

Benefits:

  • May realize significant federal charitable deduction in year of gift
  • Avoidance of capital gain with gifts of appreciated securities.

Bequests

Bequests - both large and small - have helped shape Cape Cod Healthcare into the nationally-recognized health system it is today. For many benefactors and friends of Cape Cod Healthcare, a charitable bequest is the easiest and best way to make a gift. You can name Cape Cod Healthcare as the beneficiary of a portion of your estate, or of particular assets in your estate. Many of our most powerful gifts have been bequests, including one from Cape Cod Hospital founder Charles L. Ayling.

Benefits:

  • Fulfill your philanthropic goals
  • Eliminate potential federal estate or property passing to charity at death
  • Reduce costs and time in estate settlement

Gifts of Retirement Plan Assets

Retirement plans now account for 36% of household wealth, so assets in those plans are often used for charitable gifts. A simple way to make a gift from your IRA, 401(k), 403(b) or other defined contribution plan is to name our institution as a beneficiary of all or a percentage of whatever might remain in the fund at the end of your life. You need only complete a change-of-beneficiary form, which you can obtain from your plan administrator. Such a gift could be a cost-effective way to make a charitable gift. Here’s why: These assets (unless from a Roth IRA) are subject to income tax when paid to a non-charitable beneficiary, and they may also be subject to estate tax, depending on the size of your estate. However, they are subject to neither tax when they distribute to Cape Cod Healthcare.

Benefits:

  • Fulfill your philanthropic goals
  • Eliminate potential federal estate or property passing to charity at death
  • Reduce costs and time in estate settlement

Remembering Cape Cod Healthcare In Your Will or Trust

Bequests or Living Trust: Bequests or living trust directions to support Cape Cod Healthcare have become an integral part of our organization's philanthropic tradition. These charitable gifts enable a person to make significant contributions that may not have been possible during their life.

Gifts of Retirement Plan Assets: Retirement plans now account for 36% of household wealth, so assets in those plans are often used for charitable gifts. A simple way to make a gift from your IRA, 401(k), 403(b) or other defined contribution plan is to name our institution as a beneficiary of all or a percentage of whatever might remain in the fund at the end of your life. You need only complete a change-of-beneficiary form, which you can obtain from the plan administrator. Such a gift is doubtless the most cost-effective way to make a charitable gift.

Attorney and Advisor Information

Cape Cod Healthcare Foundation welcomes the opportunity to work with you and your clients to identify tax-wise ways to support Cape Cod Healthcare’s charitable nonprofit mission. Please contact us directly for information or confidential help.

Legal Name

All charitable gifts should be directed to “Cape Cod Healthcare Foundation.” Also, please indicate whether the gift is for Cape Cod Healthcare or one of our entities - Cape Cod Hospital, Falmouth Hospital or the VNA of Cape Cod, and if the gift is for general purposes or should be restricted to a particular project or program.

Tax ID Number

Cape Cod Healthcare Foundation is a 501(c)(3) not-for-profit organization; Tax ID#: 04-3475950.

The IRA Charitable Rollover

Last year, the Protecting Americans from Tax Hikes Act of 2015 (PATH) was signed into law making the IRA Charitable Rollover permanent. Incorporating IRA charitable rollovers as part of your philanthropic support will certainly be beneficial to our mission and would reduce your adjusted gross income on your tax return.

Here are the requirements for making a gift from your IRA account:

  • The donor must be 70 1/2 years of age or older on the day of the gift.
  • The gift must transfer directly to us from the IRA.
  • The gifts from the IRA cannot exceed $100,000 per person ($200,000 for a couple) in a given year.
  • The gift can only be outright gifts. (Such gifts cannot fund a charitable trust or charitable gift annuity.)
  • The gifts cannot be made to a donor-advised fund, a supporting organization or a private foundation
  • No goods or services can be given in exchange for the rollover gift.

While you cannot claim a charitable deduction for IRA gifts, this distribution from your IRA counts toward your minimum required distribution for the account and does NOT trigger income tax for you. It is a tax-free transfer from the IRA account directly to the Cape Cod Healthcare Foundation (Tax ID: 04-3475950).

In order to complete an IRA Charitable Rollover for 2016, please contact your IRA provider for exact instructions. Such transactions usually take a few weeks, but the provider should be able to fast-track such a transaction. We have attached a sample letter of instruction that you can edit and send to your IRA provider. Your provider should tell you the best way to send the letter of instruction so it can be processed in time.

Sample Letter

Donor Resources

Contact Information

Phone: 508/862-5600
Toll-Free: 800/499-3377
Fax: 508/790-3532
giving@capecodhealth.org

Mailing Address

CCHC Foundation
P.O. Box 370
Hyannis, MA 02601

Office Locations

Hyannis Office:
32 Main Street
Hyannis, MA 02601

Falmouth Office:
348C Gifford Street
Falmouth, MA 02540