Create a Lasting Tribute

Honor Someone Special With a Gift in Their Name

Making a tribute or memorial gift to Baystate Health Foundation is a meaningful way to show your generosity. Any outright or planned gift can be made in honor or memory of a loved one or caregiver. Your gift will help support the incredible patient-centered care happening every day at Baystate Health.

Establish a Named Endowment Fund

To create a tribute that will last for generations to come, you can establish a named endowment fund now or through your estate plan. Endowments are structured so that a small portion of the fund is used each year, with the balance invested for future growth. This helps ensure that the fund continues to give and your loved one's name is forever associated with quality and compassionate care at Baystate Health.

Many gifts to the Baystate Health endowment are directed to "greatest needs" to enable us the flexibility to meet critical and changing needs. If you have a particular area to which you would like to direct your endowment, please contact Kylie Johnson at 413-794-7789 or kylie.johnson@baystatehealth.org to discuss your interests.

Here's a Potential Scenario

graph with up arrowWhen Sarah's mother passed away, Sarah knew she wanted to do something that would establish a lasting legacy in memory of her mother. Sarah remembered that during her lifetime her mother was always praising Baystate Health for its tireless efforts to better the community.

Sarah decided to make a gift to Baystate Health in her mother's name using appreciated securities. Sarah received a federal income tax charitable deduction and eliminated capital gains tax on the stock. She also has the pleasure of knowing her mother's legacy will live on at Baystate Health through the Nancy E. Harper Fund for Patient Care. Read the inspiring story of Greg Swanson, who honored his late mother with a gift to Baystate Health Foundation. You can also read how the family of the late Susan Liddell honored her memory with a tribute gift.

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Next Steps

  1. Contact Kylie Johnson at 413-794-7789 or kylie.johnson@baystatehealth.org for additional information on creating a tribute gift at Baystate Health.
  2. Seek the advice of your financial or legal advisor.
  3. When you make a tribute gift to Baystate Health through your estate, 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

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 gift 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 receive an immediate federal income tax charitable deduction. 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 receive an immediate federal income tax charitable deduction. 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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