Make a Gift in Three Easy Steps

Beneficiary Designations Are Easy and Flexible

A beneficiary designation is one of the most popular and simplest ways to make a gift to Baystate Health Foundation. It's literally as easy as filling out a form. Just as you would name a loved one as a beneficiary, you can also name a beloved charity, like Baystate Health Foundation. You can also specify what percentage of assets you would like us to receive.

It only takes three, simple steps to make this type of gift. Here's how to name Baystate Health Foundation as a beneficiary:

  1. Contact your retirement plan administrator, commercial annuity administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
  2. Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you choose, on the beneficiary form.
  3. Return the completed form to your plan administrator, insurance company, bank or financial institution.

Not everyone wants to commit to making a gift in their will or estate. You may use any of the following assets in a beneficiary designation:

See How It Works

Here's a Potential Scenario

graph with up arrow George treasures the financial support he’s been able to provide his two nephews and the Baystate Health over the years. Now that his nephews are grown and flourishing in their own careers, George revisited his estate plan so it could work harder for the people and causes he loves. He updated his will to leave stocks and real estate to his nephews. And he designated his IRA to be gifted to Baystate Health upon his death. If George had left his IRA to his nephews, nearly one third of it would have gone to pay federal income taxes—a heavy tax burden. Because Baystate Health is tax-exempt, his entire IRA gift goes to caring for patients. His gift will establish the George Smith Endowed Fund for Patient Care at Baystate Wing Hospital, generating meaningful support for years to come. George is happy knowing he found a tax-wise way to provide for his family and Baystate Health, a community resource he loves.

Read how Harold Collins or Millie and Ron Burkman used their beneficiary designation.

Learn More

Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.

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Next Steps

  1. Contact Kylie Johnson at 413-794-7789 or for additional information on beneficiary designations and how they can support the future vitality of Baystate Health.
  2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. When you name Baystate Health in your plans, please use our legal name and federal tax ID.
  4. Be sure to let us know if there's a specific program or area of Baystate Health you wish to support so we can be sure to carry out your intentions.

Legal Name: Baystate Health Foundation, Inc.
Legal Address: 759 Chestnut Street, Springfield, MA 01199
Mailing Address: 280 Chestnut Street, Springfield, MA 01199
Federal Tax ID Number: 04-3549011

A charitable bequest is one or two sentences in your will or living trust that leave to Baystate Health Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Baystate Health Foundation, a nonprofit corporation currently located at 759 Chestnut Street, Springfield, MA 01199, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Baystate Health or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Baystate Health as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Baystate Health as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Baystate Health where you agree to make a gift to Baystate Health and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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