Support the Important Causes in Your Life
Harness the Giving Power of a Private Foundation
Support What Matters
Learn more about donor advised funds. View and download the FREE guide One-Stop Giving: The Convenience and Simplicity of Donor Advised Funds.View My Guide
A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Baystate Health Foundation and other charities.
You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend-but not direct-how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.
In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.
Here's a Potential Scenario
Joanne and Michael Thomas care about giving back to the community and want their two daughters to carry on these values. They establish a $10,000 donor advised fund at the community foundation with a plan to contribute to it each year to create a family legacy of giving and to inspire their daughters to carry on philanthropy. The couple receives a federal income tax charitable deduction for the amount of the gift.
At the same time, because Baystate Health surgeons have seen their family safely through many health issues, Lee and Andy establish a $25,000 endowment with Baystate Health Foundation to establish the Thomas Family Endowed Fund for Surgery to provide support for research, training and education for surgeons and their care teams. Lee and Andy recommend yearly grants from their donor advised fund to add to this endowment, ensuring their meaningful legacy at Baystate Health. Through Baystate Health Foundation's Visionary Society—which honors endowment donors—they meet like-minded community members and expand their daughters' experience with the power of philanthropy.
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- Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
- Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
- Contact Kylie Johnson at 413-794-7789 or firstname.lastname@example.org to discuss using donor advised funds to support Baystate Health and our mission.
- Seek the advice of your financial or legal advisor.
- When you include Baystate Health in your plans, please use our legal name and federal tax ID.
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
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.