Providing Care Well into the Future
Naming the New Hanover Regional Medical Center Foundation as a benefi-
ciary of your retirement plan is not only easy to do, but it is also a way to make a
A donor scenario...
significant and lasting gift to our community that may not be possible during your
lifetime. It is one of the most tax-efficient ways to give back to your community.
Jim and Barbara care deeply about their family and
New medical treatments, technologies and advancements are occurring every day.
want to make an impact on their community with
Planned gifts, like a beneficiary designation from your retirement plan, will ensure
a gift to New Hanover Regional Medical Center
the NHRMC Foundation has the resources to keep up with these advancements for
Foundation. So they turned to their professional
generations to come.
advisor for guidance in fulfilling their desires to
ensure that their children are taken care of and a
How it works:
charitable legacy is left to their community. When
• Simply designate the New Hanover Regional Medical Center Foundation as a
they learned that retirement assets are often sub-
full or partial (usually a percentage) beneficiary of your qualified retirement plan
ject to two taxes (income and estate tax) that could
using the form supplied by the retirement plan administrator.
reduce the value of those assets by up to 70% if
left to their children, they quickly determined that
• Notify your plan administrator or financial professional of your designation and
part of these assets would be best designated for
make sure both you and they receive a written confirmation.
charity. By naming the NHRMC Foundation as a
beneficiary of their retirement assets, they would
• Discuss your plans to designate the NHRMC Foundation as a beneficiary of your
be assured that their gift would be paid directly
retirement plan with your spouse and family members. You may want to discuss
to the Foundation and would not be subject to
how you would like your gift to be used and recognized. Your gift may be recog-
income or estate taxes. They also knew that every
nized in your name, your family’s name, or in memory or honor of a loved one.
dollar would be preserved for the hospital and
• Be sure to let the NHRMC Foundation know about your designation so we can
the patients they serve. It was an easy and gratify-
acknowledge your gift and recognize you as a member of our planned giving
ing way to leave a legacy to the community.
society.
Things worth considering:
• If you are concerned about estate taxes affecting your family’s inheritance, the
charitable beneficiary designation is a great choice because while the amount
will be included in your taxable estate, your estate will receive a deduction for the
amount designated to the charity, resulting in an offset of estate taxes. Whether
it is a 401(k), 403(b), IRA (individual retirement account), or other qualified re-
tirement program, retirement assets could be taxed at both estate taxes and in-
come taxes with rates as high as 70 percent.
• Your gift can be designated to support an area of New Hanover Regional Medi-
cal Center that is meaningful to you and your family like the Betty H. Cameron
Women’s & Children’s Hospital, the Zimmer Cancer Center, Cardiac Rehabilita-
tion, or it may be used to establish a named fund or endowment (minimum of
$50,000). Endowment income is used to support specific areas of need within
the medical center in perpetuity. An endowment or named fund is a permanent
source of support for the hospital helping to do good work well into the future.
www.nhrmcfoundation.org 7
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