Making a planned gift 

Thank you for your interest in learning more about planned giving options at the TMC Health Foundation!

Every donor’s financial situation and personal goals are different, and there are a variety of ways to accomplish your charitable giving goals. We always welcome working with your attorney or tax advisor to determine the strategy most appropriate for you. Our staff is here to provide you with additional information on making a planned gift.

No matter which way you choose to make your gift to the TMC Health Foundation, your support will make a meaningful difference in the lives of TMC patients and in the overall health and well-being of our communities throughout Southern Arizona.

You may choose to make an unrestricted gift that benefits the area of greatest need, or you may designate your gift to support a specific department, such as pediatrics or cardiology, or to fund new equipment or programs.

Ways to include TMC Health Foundation in your estate planning

Bequest in a will

How it works: You designate TMC Health Foundation as a beneficiary in your will or living trust. You can leave a specific amount, a percentage of your estate or a residual gift (what remains after other distributions). Find sample language.

Key benefits: Simple and flexible, can be changed anytime; potential estate tax savings; no impact on current finances.

Considerations: Requires updating your will or trust; your estate must go through probate before distribution.

Beneficiary designation (e.g., life insurance, retirement accounts, annuities, bank accounts)

How it works: You name TMC Health Foundation as a full or partial beneficiary of your IRA, 401(k), life insurance policy, annuity or bank account (payable on death or transfer on death account).

Key benefits: Easy to set up – no need to change your will; avoids probate; potential income tax savings for heirs (especially with retirement accounts).

Considerations: Must ensure beneficiary designation forms are updated and filed with your plan administrator or financial institution.

Charitable Remainder Trust (CRT)

How it works: You place assets (such as cash, stocks, or real estate) in a trust that provides income to you or beneficiaries for life or a set number of years. Afterward, the remainder goes to TMC Health Foundation.

Key benefits: Provides ongoing income to you or your heirs; reduces capital gains and estate taxes; flexibility in investment choices.

Considerations: Requires legal setup with an attorney; trust must be actively managed.

Charitable Lead Trust (CLT)

How it works: You place assets in a trust that pays income to TMC Health Foundation for a set time. Afterward, the remaining assets go to your heirs.

Key benefits: Reduces estate and gift taxes; allows you to provide for heirs at a reduced tax cost.

Considerations: Requires legal setup and administration; may be complex to establish.

Endowment Fund

How it works: You establish a named endowment with a minimum contribution. The principal remains invested, and only the earnings support hospital programs.

Key benefits: Creates a perpetual legacy; can be named in honor of a loved one; provides long-term impact.

Considerations: Requires a minimum $500,000 donation; the Foundation typically invests the gift and only interest is used.

Real estate gift

How it works: You donate property (home, commercial building, land) to TMC Health Foundation. You can choose to give it outright or retain the right to live in the home through a Retained Life Estate.

Key benefits: Avoids capital gains tax on appreciated property; possible charitable tax deduction; can provide income or remain in use for life.

Considerations: Requires appraisal and transfer of title; if using a retained life estate, you are responsible for maintenance and taxes while living there.

Here to help

Our team at the TMC Health Foundation is here to help you create a giving plan that aligns with your values and goals. We are happy to join you, your family, and your advising team to help shape your charitable legacy - both now and in the future. For more information please contact Deb Dale, Vice President and Chief Development Officer, (520) 324-2501 or Deb.Dale@tmcaz.com or Heidi Hultquist, Director of Major Gifts and Planned Giving, (520) 324-3717 or Heidi.Hultquist@tmcaz.com

Please consult your personal advisor(s) on all legal, tax, or financial issues related to your gift or personal matters. Nothing contained in this publication should be considered legal, tax, or financial advice. Content was not written nor intended for, and cannot be used for, the purpose of avoiding tax-related penalties. For information about the specific tax benefits to which you may be entitled through your charitable giving, please consult your tax advisor or attorney.