Planned Giving to the Foundation
The Medical Society and its Foundation play vital roles in quality health care and advocacy issues at the state and local level. You can play a part in ensuring that NCMS Foundation will continue to thrive and serve the next generation of North Carolina’s health care professionals and their patients by contributing to the Foundation’s Planned Giving program.
Planned giving gifts truly make a difference often by allowing donors to participate at levels much higher than they may think is possible and can often be made at very low cost. There are numerous potential advantages to a planned gift. Some planned gifts qualify for an immediate tax deduction, may increase spendable income or provide significant future tax savings for your family. Planned giving can take many forms.
Charitable Gift Annuity
- Potential increased income, a portion of which may be tax free
- You no longer have to worry about investment management and market fluctuations
- Immediate charitable contribution deduction or lower income tax liability
- Ability to avoid capital gains tax and reduce estate tax liability if any
Charitable Remainder Trust
- Annual income for life
- Immediate charitable contribution deduction
- Removal of asset from estate
- Ability to avoid capital gains tax and reduce tax liability
- Ability to select trustee and offer investment management guidelines
- Potential inflation fighter since trust growth beyond payout can provide increased income in later years
- Name the NCMS Foundation as the beneficiary of the policy.
- Transfer ownership of the policy to NCMS Foundation in your lifetime.
- Purchase a new policy specifically for gifting.
Life insurance can be a very cost-effective means to endow your annual gift. When considering a new policy, please be mindful of underwriting and insurability factors. Life insurance options offer the following benefits to you:
- Ability to make a large gift with little costs to you
- Immediate tax deduction for the cash value of the policy if transferred in your lifetime
- Current or future insurance premiums may be tax deductible
- Immediate charitable income tax deduction
- Removal of the property from your taxable estate and reduction of estate taxes
- Satisfaction of knowing the property won’t have to be sold in a down market
Please consult with your financial advisors about which of these options fulfills your legacy goals or contact Pam Highsmith, Director of Development at 919-833-3836, for more information.
Planned giving creates a legacy of personal philanthropy and all planned giving donors are welcomed into the Foundation’s 1799 Society. The 1799 Society recognizes the year in which the NC Medical Society was established and honors those that laid the foundation for organized medicine in our state. The listing of all 1799 Society members will be published in the Foundation’s Annual Report and will be displayed on the website. Your participation in the 1799 Society demonstrates your lasting commitment to providing access to quality care for future generations.