Giving and Receiving

Verona Lynam is a woman of many passions, a woman determined to make the world a better place. Through her lauded career at the American Red Cross where she had management responsibilities for 25 chapters to her work with Easter Seals, Verona has remained steadfast to her vision of helping others, alleviating suffering and improving the quality of life for all. It is because of these values and deep positive personal experience with OHSU that she was attracted to the work of the OHSU Center for Ethics in Health Care and the Program in Compassionate Communication.

The Program in Compassionate Communication has once again put OHSU in the national spotlight by prioritizing the essential role of skillful, compassionate communication in the healing relationship. Many medical schools throughout the country now include communications training in their curricula, but OHSU is the first both to develop standards for testing these communication skills and to require that these standards be met before students graduate.

Verona has volunteered for the Center for Ethics as a member of the Advisory Council and a facilitator of the annual Ethics luncheon. But she decided to do even more to assure the future of the Program in Compassionate Communication. In the past Verona supported the causes she loved—women’s education and advancement; health care; and the Boy Scouts (providing a Scout camp experience for an entire troop annually to honor her late husband’s wishes)—by establishing a number of charitable gift annuities at organizations promoting these missions. Pleased with the results of these gifts, Verona wondered if it would be possible to support the Center for Ethics in Health Care in a similar fashion through the OHSU Foundation.

Verona contacted OHSUF director of gift planning Ann Barden for assistance. After completing some very simple paperwork, Verona was the happy recipient of an annuity paying well over

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WINTER 2018

Verona Lynam and Susan Tolle, MD

...Giving and Receiving continued from Page 1

The purpose of this publication is to provide general gift, estate, and financial planning information. It is not intended as legal, accounting, or other professional advice. For assistance in planning charitable gifts with tax and other financial implications, the services of appropriate advisors should be obtained. Consult an attorney for advice if your plans require revision of a will or other legal document. Tax deductions vary based on applicable federal discount rates, which can change on a monthly basis. Some opportunitites may not be available in all states. © Copyright 2018 by SHARPE newkirk. All Rights Reserved. NXXX-18

8.0% for the rest of her life, a good portion of it as tax-free income. She also received an attractive charitable tax deduction. And she took great satisfaction in knowing that when she no longer needs the payments, the residuum of the annuity will go to the Center for Ethics in Health Care, providing support for the Program in Compassionate Communication far into the future.

“To start with, the charitable gift annuity is a win/win for the donor and the charity,” stated Verona. “Many of us, particularly women in our later years, have concerns about outliving our assets, about recession and investment losses and about the cost of living outpacing our annual income. And, therefore, we are reluctant to make major gifts to the organizations we have supported. With a charitable gift annuity you can continue to support both yourself and your cause.”

“Just as the Program in Compassionate Communication will influence the future of health care for generations to come, Verona’s charitable gift annuity will mature over time to guarantee the future of this vital program. We are deeply grateful for this generous gift, and applaud Verona’s wisdom in choosing a method of giving that allows her a steady income stream during her lifetime,” said Susan Tolle, MD, Cornelia Hayes Stevens Chair and Director of the OHSU Center for Ethics in Health Care.

For more information about charitable gift annuities, please call or email Ann Barden, 503-412-6355, bardena@ohsu.edu; Pete Sommerfeld, 503-220-8328, sommerfe@ohsu.edu; Tim Coffey, 503-552-0750, coffeyt@ohsu.edu; or Liz Arrington, 503-552-0716, arringtl@ohsu.edu.

To learn more about the Center for Ethics in Health Care, please visit ohsu.edu/center-for-ethics or call 503-494-4466.

Elizabeth Eckstrom, MD, speaking to Guild Members at a Medical Chat on Blue Zones.

Prime Time for Planning

This fall is a good time to review important financial decisions, especially now that our tax deductions and reporting are substantially different than they were last year. Thoughtful planning can make it easier to balance your personal and philanthropic priorities, and to maximize tax savings.

Whether you already have financial plans in place or you are just beginning to plan, it’s important to think about how to accomplish your goals. There are ways to take care of loved ones and continue your support of OHSU and Doernbecher both now and in the future.

It’s usually easiest to make charitable gifts with cash, most often by sending checks to favorite charities or through a website with a credit card. If you will be itemizing, this year you can deduct cash contributions up to 60% of your adjusted gross income. While few people reach this limit, the tax code allows donors to “carry forward” any excess for up to five more years. To be deductible on your 2018 tax return, gifts must be completed before December 31.

Another way to make your year-end gifts is with appreciated securities, which can result in additional tax benefits. For details, please refer to the article below.

No matter how you decide to make your charitable gifts this year, remember to save your receipts and acknowledgments. If we can provide you or your advisors with more information, confidentially and with no obligation, please return the enclosed card or contact us.

The Season for Giving Stock

Do you own stocks, bonds or mutual funds that have increased in value? Using securities that you have owned for a year or more to make charitable gifts cannot only result in an income tax deduction for the full current value, you are generally allowed to deduct the value of such gifts in amounts equal to 30% of your adjusted gross income. In addition, whether or not you itemize, you will benefit by avoiding the capital gains tax that would be due if you simply sold the assets.

People often think that making a gift of securities will be too complicated. Actually, it doesn’t have to be.

If your financial services provider holds your securities in an account, you can instruct that the stock be electronically transferred to your charity of choice. We will be happy to provide the information that may be needed to complete such a gift.

If you have possession of stock certificates, you may mail the unendorsed certificate and a signed stock power (available from your financial services provider) in separate envelopes to your chosen charity. The gift is considered complete on the date of postmark of the later envelope.

For more information about making gifts of appreciated securities or other year-end gifts, please feel free to contact us. We will be glad to speak with you and your advisors about your charitable giving plans.

Join Us!

Have you joined us? Since July 2012, we’ve welcomed 330 new members to the Sam Jackson Legacy Guild and Frank Doernbecher Legacy Guild! Support the future of OHSU and Doernbecher by making a gift in your will or trust or by including us as a beneficiary of your retirement account, insurance policy or investment account by making a planned gift such as a charitable gift annuity.

And if you have already included OHSU or Doernbecher in your estate plans, please let us know. Contact one of our gift planners listed on the back cover, or visit us online at giftplanning.ohsufoundation.org or giftplanning.dchfoundation.org. Thank you!

At the opening of the Knight Cancer Research Building on September 7, 2018, visitors view a painting of colorful dots. Each dot represents one of the 10,000 donors who supported the Knight Cancer Challenge. 

Year-end Planning Checklist• Complete all gifts by December 31 to

qualify for tax savings on your 2018 income tax return.

• Keep all receipts and acknowledgment letters, especially for gifts of $250 or more.

• Consider giving appreciated securities. Such gifts can yield greater tax benefits.

• Those age 70½ and over should check with advisors about the ability to make tax-free charitable gifts directly from a qualifying IRA.

Our Tax ID Numbers:

Doernbecher Children’s Hospital Foundation 93-0579589

OHSU Foundation 23-7083114

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Let Your Gift Take Care of You

Many people have found that their desire to support OHSU and Doernbecher and ensure their own financial well-being can both be achieved with one gift: a charitable gift annuity.

A gift annuity provides income that:

• Will be stable, regardless of the future performance of the economy.

• Is backed by all of the OHSU Foundation’s or Doernbecher Children’s Hospital Foundation’s assets.

• Will continue for as long as you and/or another annuitant live.

• Can provide a welcome supplement to your retirement income.

How much will I receive?

Gift annuity payments are based on the age of the annuitant—the older the annuitant, the greater the payment rate will be. For instance, at current rates, an 80-year-old would receive 7.3% ($3,650) annually for life from a $50,000 gift annuity.

Tax benefits

With a gift annuity, you can claim a federal (and perhaps state) income tax deduction in the year you make your gift and, generally, part of your annuity income is tax-free for a period of time.

We would be pleased to send you a personalized, no-obligation illustration of the gift annuity benefits you could receive. Simply return the attached card or contact Ann Barden at 503-412-6355, Pete Sommerfeld at 503-220-8328, Timothy Coffey at 503-552-0750 or Liz Arrington at 503-552-0716.

Single Life Gift Annuity Rates

Age Rate

70 5.6%

75 6.2%

80 7.3%

85 8.3%

90+ 9.5%

For illustrative purposes only. Please contact us for current benefits and rates

for other ages.

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