Santa Rosa Memorial Hospital Foundation

The mission of the Foundation is to assist the hospital in developing good will and financial support for programs, services and activities that fulfill the healing mission of the Sisters of St. Joseph of Orange. Our efforts help to position St. Joseph Health System - Sonoma County as a leading innovator in health care for the region. Our staff is available to assist you in achieving your tax, estate planning and charitable giving objectives. We are pleased to provide personal financial projections to you and your financial advisors.

How Do I become a Part of the Hospital Foundation?

There are a number of ways that you can become part of the Hospital Foundation and participate in the development of a strong and lasting foundation for our community. You can:

• Volunteer at the Foundation office and assist with events
• Participate in a variety of interesting annual events (Keegan Lecture series, PACE Ball, Pro Am Golf Tournament)
• Contribute any amount to an existing unrestricted or area of interest fund (cardiac care, cancer, cancer library, care for the poor, palliative care, neonatal intensive care unit, etc.)
• Establish a donor advised fund with a gift of $10,000 or more. You may determine the purpose of your fund, whether for the area of greatest need within the hospital, a particular field of interest, or to assist the Sisters with their commitment to care for low income people.
• Establish a fund with a deferred gift that will come to the Foundation after your lifetime.
• Leave a gift of any size to an existing fund through your will.

Methods of Giving

The Santa Rosa Memorial Hospital Foundation accepts and manages gifts from individuals, corporations, and foundations to further the mission of the St. Joseph Health System-Sonoma County. Our staff is available to assist you in achieving your tax, estate planning and charitable giving objectives. We are pleased to provide personal financial projections to you and your financial advisors.

Assets that can be used to make gifts include:

• Cash or check
• Credit card
• Publicly traded securities
• Closely held stock
• Planned gifts
• Real estate
• IRAs or life insurance

For more information please feel free to contact the Santa Rosa Memorial Hospital Foundation at (707) 547-4680, or read more about types of gifts below.

Planned Giving

Planned giving is a way to integrate an individual’s personal, financial and estate planning goals with his or her charitable giving goals. Planned giving is also an opportunity for charitable giving in circumstances that may not otherwise allow a donor to make a gift to charity.

Types of planned gifts include:

• Life Income Gifts
• Charitable Remainder Trusts
• Lead trusts
• IRAs and Life Insurance
• Bequests
• Endowed Funds

Life Income Gifts

The benefits of a life income gift include:

• A stream of income for the lifetime of the donor and/or beneficiaries,
• A charitable income tax deduction,
• An opportunity to establish an endowed fund in the donor’s name or the name of a loved one,
• Possible avoidance of capital gains taxes on gifts of appreciated property,
• A higher yield than from current investments, and
• Possible reduction of federal estate taxes.

There are several options to choose from including the charitable gift annuity, the deferred gift annuity and the pooled income fund.

• Charitable Gift Annuity
  A gift annuity is a simple contract between the donor and the Foundation that provides advantages for both. The payout rate on an annuity is based on the age of the donor at the time the gift is made, and the rates are established by the American Council on Gift Annuities. Charitable gift annuities may be funded with cash, securities or property and have a required $10,000 minimum. Lifetime payouts are typically made quarterly, and the checks are issued and sent directly to the donor or to a specified bank account for the donor’s lifetime.
• Deferred Gift Annuity
  A deferred gift annuity is similar to a charitable gift annuity, except that the payments are deferred to a future date; however, the donor obtains a charitable income tax deduction in the year that the gift is made. A donor may defer payments to years when income is needed more, such as in retirement.
• Pooled Income Fund
  The pooled income fund accepts a gift of cash or stock, invests it with similar gifts from other donors and then distributes a proportionate share of earnings to the donor over the donor’s lifetime. A minimum gift of $5,000 is required. Upon the donor’s death, the Foundation receives the donor’s pooled income shares.

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Charitable Remainder Trusts

A charitable remainder trust is a trust that receives cash or property from a donor, makes payments for one or more lifetimes or a term of years and then distributes the remainder to the Foundation.

The benefits of a charitable remainder trust include:

• Avoiding capital gains taxes on the transfer of appreciated property,
• Increasing annual income to the donor,
• Providing income to one or more beneficiaries for life,
• Obtaining a charitable income tax deduction, and
• Establishing an endowed fund at the Foundation through the trust.

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Lead Trusts

A lead trust is the opposite of a charitable remainder trust. The “lead” income is paid first to the Foundation, and after a number of years (based on a term or a lifetime) the remainder is returned either to the grantor (a grantor lead trust) or to someone other than the grantor, such as the grantor’s beneficiaries (a non-grantor lead trust). In addition, a charitable lead trust is a fully taxable trust, meaning that the trust pays income tax on its income and capital gains, unlike the charitable remainder trust which is a tax-exempt trust.

Lead trusts are often established to reduce the donor’s gift or estate tax costs.

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IRAs and Life Insurance

There are several ways in which a donor may use life insurance or Individual Retirement Accounts (IRAs) to make a gift to the Foundation:

• Make a gift of an existing life insurance policy,
• Establish a new life insurance policy and name the Foundation as the owner and beneficiary of the policy,
• Use life insurance to replace the value of other gifts made to the Foundation,
• Name the Foundation as the beneficiary of an IRA.

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Bequests

A gift through your estate can provide significant support to the Foundation. The gift can be made through a will or a trust, and both documents enable you to distribute assets to individuals and nonprofit organizations in the amounts or proportions you indicate.

A gift through your estate provides the following benefits:

• The opportunity to make a major gift while preserving assets during your lifetime,
• Possible reduction in federal estate taxes, and
• The opportunity to designate the gift to a specific program at the Foundation.

All assets including cash, securities, real estate, and tangible personal property, such as works of art, may be transferred to the Foundation through your estate. A gift through your estate can be made in the following ways.

• Specific Bequest
  The Foundation receives a specific dollar amount, a specific piece of property or a stated percentage of the estate. This is one of the most popular forms of bequest.
• Residuary Bequest
  The Foundation receives all or a stated percentage of an estate after distribution of specific bequests and payment of debts, taxes and expenses.
• Contingent Bequest
  The Foundation receives part or all of the estate under certain specified circumstances.
• Trust Established Under a Will
  A trust may be established that provides for both the Foundation and other beneficiaries.

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Endowed Fund

An individual or family can create an endowed fund which provides a permanent bond between the donor and the Foundation. Through an endowed fund, the donor transfers assets to the Foundation, and the assets are carefully managed and preserved in perpetuity to provide annual income. Endowed funds promote teaching, learning and research, and support a variety of areas within the St. Joseph Health System – Sonoma County.

A minimum of $10,000 is needed to establish an endowed scholarship fund. Certain funds have larger minimum gift requirements. You may specify in writing the purposes that your endowed fund is to serve and how it is to be administered, all within the framework of the Foundation’s policy. The Foundation then carefully preserves the principal of your endowed fund as an investment, while awarding income each year for the purpose you specify.

Policies vary on guidelines for naming opportunities, some of which require approval. The Foundation coordinates the policies and assists donor in fulfilling their specific wishes.

For further information, contact:
Susan Sudduth, Director, Planned Giving
707-547-4684

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Volunteer Opportunities

We offer a broad range of volunteer opportunities at our hospitals and a wide variety of community-based positions through our hospice, Medical Access and Community Benefit programs.
Call the Volunteer Office for more information on how you can get involved.

For further information, contact:

Kathleen Exelby, Volunteer Services Coordinator
1165 Montgomery Drive
Santa Rosa, CA 95405
kathleen.exelby@stjoe.org
707-522-1598