We Have Many Planned Giving Options*
By giving a planned gift to Central Maine Healthcare, supporters of our non-profit hospital are taking a long-term view of giving. Donors select a plan that will benefit our endowment and capital projects for many years. As a result, donors are giving more than they could if they made a single one-time donation. We couldn’t exist without our supporters who take the long view! CMH’s Development Office offers a variety of planned gift options
Our Planned Gift Options Include:
Bequests: A Simple Way to Help CMH
You can help CMH in the years ahead by including a bequest to the hospital in your will, or by adding a codicil to an existing will. By doing so, you would truly be leaving a legacy!
We have a model of how the bequest can be worded: “I hereby give, devise, and bequeath to the Board of Directors of Central Maine Healthcare Corporation (Federal ID number 01-0386913), a non-profit corporation organized and operating under the laws of the State of Maine, for the benefit of [hospital name] [include here the percentage of the residuary estate, or the amount in dollars, or an accurate description of securities, real estate, or other property given], to be used for [gift restrictions, if any].”
Life Income Gifts
Another gift you can make from your estate is a Life Income Plan. This is an irrevocable gift that bequeaths an annual income to the hospital. As part of the arrangement, CMH would receive the assets that are generating the income after the last beneficiary has passed away. This plan allows donors to decide how much income CMH would receive, plus any additional directives. We have several types of Life Income Gifts plans available.
Charitable Gift Annuity
With a charitable gift annuity, the donor first transfers property or cash to a charity. In return, the donor receives a guaranteed stream of annual income from the charity, and a partial tax deduction. After the donor dies, the charity becomes the owner of the gift. If a donor chooses to delay receipt of the income, the tax deduction is higher. The minimum Charitable Gift Annuity is $5,000.
Charitable Remainder Unitrust
This type of life income gift is identical to the unitrust, except that the income payment is a fixed dollar amount, rather than a fixed percentage of the trust’s assets.
Charitable Remainder Annuity Unitrust
This type of life income gift is identical to the unitrust, except that the income payment is a fixed dollar amount, rather than a fixed percentage of the trust’s assets.
Real Estate Remainder Interest
Real estate can also be used as a form of donation to Central Maine Healthcare. Individuals who will not be leaving a residence or real estate to an heir can deed all or any part of the property to Central Maine Healthcare. The donor retains occupancy rights and all income from the property during his/her and his/her spouse’s lifetime. This type of gift provides an immediate income tax deduction for the value of the remainder interest. This arrangement releases property from consideration as part of an estate, which results in lower estate taxes.
Gifts of Life Insurance
Another way to give is by making Central Maine Healthcare the beneficiary of a life insurance policy. If the policy is paid in full, the donor will be entitled to a charitable deduction equal to the policy’s cash surrender value. Policies that still have premiums owed can also be donated. The charitable deduction would equal the cash surrender value. Additional deductions can be added if the donor chooses to make further premium payments.
*NOTE: The planned giving options listed above are made to Central Maine Healthcare Corporation, for the benefit of the CMH hospital of your choice.
Community Support Keeps Us Thriving!
Thanks to our donors, we continue to make CMH a community-supported medical center known for its compassionate and quality of care. If you would like to make a gift to Central Maine Healthcare please call us at 207-795-2668! We would love to meet with you and discuss our programs in full detail. We’ll help you find a program that will fit your needs.
FMI: Contact the CMH Philanthropy Office, 300 Main Street, Lewiston, ME 04240. 207-795-2668 or email giving@cmhc.org
