Planned Giving

Planned Giving to the Foundation

Planned GivingThe 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.


A Bequest is the easiest and most common type of planned gift. Bequests allow you to maintain control of your assets during your lifetime and support the Foundation for the future. We can work with you and your financial advisor to craft specific bequest language that accurately reflects your gift intentions.

Charitable Gift Annuity

A Charitable Gift Annuity is a formal contract between you and the NCMS Foundation/fund of your choice. It states that if you transfer assets to us, we agree to make fixed payments to you (or another beneficiary you designate) for life. Upon your death (or the death of the beneficiary), the remaining assets become available to NCMS Foundation. This is the second most frequently used planned gift option and offers you the following benefits:

  • 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

A Charitable Remainder Trust enables you to transfer assets to the NCMS Foundation, which in turn would make variable payments to you (and/or a beneficiary you designate) for life. Upon your death (or the death of the beneficiary), the assets become available to Foundation. This gift option offers you the following benefits:

  • 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

Life Insurance

If you have a life insurance policy that you no longer need to protect your loved ones or business interests, there are three options that you may consider:

  1. Name the NCMS Foundation as the beneficiary of the policy.
  2. Transfer ownership of the policy to NCMS Foundation in your lifetime.
  3. 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

Real Estate

If you own your own home or condo and your heirs have no interest in the property, you can make a gift of your residence during your lifetime, yet retain the right to live on the property. Benefits include:

  • 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

Retirement Plan

A retirement plan gift is easy to make and may be the most tax-efficient gift you can make to a charity. Since most individuals have contributed to retirement plans on a tax-deferred basis (meaning taxes have been postponed), retirement plan income is taxed at your marginal rate (federal and state). You can avoid the two-fold income and estate taxation on retirement plan assets by gifting.

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.

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