In this era of economic uncertainty, at least one retirement vehicle remains secure – the income payment you can receive from a Charitable Gift Annuity (CGA).

Many people set up CGAs to accomplish both income and philanthropic goals.  Part investment and part major gift, a CGA is particularly attractive to a person who is looking for secure income in retirement and tax-saving benefits, perhaps from assets that have risen in value, such as stocks.

“The annuity has been a helpful part of my retirement income, part of which I use to help support my sister in a memory-care unit in Oregon,” says Margaret Shipley, a local Hospice Foundation donor.  “I am glad to be able to know exactly what income I will receive.  I like having a sure thing.” 

Hospice Foundation is one of only five local nonprofits licensed by the State of California to offer Charitable Gift Annuities.  A CGA is an excellent way to accomplish your goals for additional, secure retirement income and to help Hospice Foundation fund local end-of-life care.

Because gift annuities may be new to you, this article will explain what a gift annuity is, how it works, and how it benefits you.  We’ll try to answer most of the frequently asked questions about gift annuities.  If your particular question isn’t answered, please email Lisa Bennett, CFRE, Hospice Foundation’s Development Director at lbennett@hospicegiving.org or call her at (831) 333-9017.  You can also learn more by contacting the American Council on Gift Annuities at (770) 874-3355 or by visiting its website at www.acga-web.org.

What is a charitable gift annuity?

A charitable gift annuity is a legal contract between you and Hospice Foundation and can be set up with a minimum donation of $20,000 or more.   Not only do you receive a fixed annual payment for the rest of your life, you will also receive tax savings.  Hospice Foundation prudently invests your donation and uses the earned interest and part of the principal to make the guaranteed annuity payments to you.

Types of Charitable Gift Annuities 

Immediate Gift Annuity

With an Immediate Gift Annuity, the annuitant(s) start(s) receiving payments at the end (or the beginning) of the payment period immediately following the contribution. Payments can be made monthly, quarterly, semi-annually or annually. The most common arrangement is quarterly payments at the end of the quarter.

Deferred Gift Annuity

With a Deferred Payment Gift Annuity (DPGA), the annuitant(s) start(s) receiving payments at a future time, the date chosen by the donor, which must be more than one year after the date of the contribution. As with immediate gift annuities, payments can be made monthly, quarterly, semi-annually or annually.

Flexible Annuity

A Flexible (Deferred Payment) Gift Annuity means that the donor does NOT have to choose the payment starting date at the time of the contribution. The annuitant (who may or may not be the donor) may choose the payment starting date based on his/her retirement date or other considerations. The older the annuitant(s) when the payments start, the larger the payments will be.

(Source:  American Council on Gift Annuities)

How does a charitable gift annuity work?

The amount of your annual payments will depend on the amount transferred, the ages of the beneficiary(ies), and the annuity rate schedule in effect at the time of the gift (See chart below).  Once the annuity is established, the payments remain fixed, regardless of the changes in the economy.  This makes the gift annuity especially attractive to older donors (55 for deferred CGAs and 65 for immediate and flexible ) who like the security of fixed, guaranteed payments.

“Having a Hospice Foundation Charitable Gift Annuity gives me peace of mind plus a feeling of partnership with the Foundation, a win-win combination,” says Pat Goetz.

What can a charitable gift annuity provide?

It can provide you additional secure income for your lifetime (and the lifetime of your spouse or another designee); significant tax breaks at the time of the gift and for the remainder of your life expectancy; and support for Hospice Foundation for years to come.  Your assets remain secure and offer a consistent level of income for you.

A CGA also offers you peace of mind.  Because of the financial obligations to the designee, the State of California Dept. of Insurance imposes stringent requirements on nonprofits before they may offer CGAs.  Hospice Foundation is proud to be among just a handful of qualified nonprofits in Monterey County to offer CGAs.  

Who may receive payments from the annuity?

Payments may be made to one or two beneficiaries (also called annuitants).  While typically the donor(s) name themselves, an annuity can also be established to benefit others, such as a child or sibling.  Upon the death of the first annuitant, the payments are continued for the lifetime of the survivor.  You may name anyone you want as an annuitant.

What determines the amount of the annuity payment?

The fixed-dollar annuity payments will be determined at the time the annuity is entered into, and will be based on the number and age(s) of the annuitant(s) at that time. 

How does a gift annuity benefit the Hospice Foundation?

At the end of the annuitant’s life (or, with a two-life annuity, the end of both lives) the remainder of the principal you have transferred will be used by Hospice Foundation to support quality, compassionate end-of-life care programs and services in Monterey and San Benito counties.

Are there tax advantages with a gift annuity?

Yes.  The donor receives a charitable deduction immediately.  In addition, the annuity payments you receive from Hospice Foundation are partially tax-free, representing a return on the principal contributed.  Note:  When a donor lives beyond his or her actuarial life expectancy, the entire annuity payment will be taxed as ordinary income.

Consider the following example:

            Peter and Norma M., both aged 75, contribute $10,000 cash to Hospice Foundation for a gift annuity, naming themselves as the beneficiaries.  As long as either of them lives, they will receive payments of $570 per year (an annuity rate of 5.7%).  For the duration of their life expectancy, $460 of their annual payments will be tax free.  They will also receive an immediate charitable deduction of $2,457 (based on the current Federal discount rate of 1.4%)

Can I contribute securities for a gift annuity?

Yes.  In fact, contributing highly appreciated securities which you have held for more than 12 months offers additional tax savings.  The donor pays no tax on the capital gain attributable to the charitable gift portion of the contribution.  If the donor is an annuitant, the gain attributable to the annuity payments does not need to be recognized in the year of the gift but may be reported ratably over life expectancy.

Is it possible to make an immediate contribution for a charitable gift annuity but delay actual receipt of the annuity payments until later?

Yes.  The deferred payment gift annuity plan is designed to appeal to the younger donor, under 60, who has a high current income, can benefit from a current tax deduction, and is interested in augmenting retirement income on a tax-favored basis.  It involves the current transfer of cash or marketable securities in exchange for an annuity starting at a future date – usually at the donor’s retirement.

The donor realizes an immediate income tax charitable deduction for the gift portion.

Can a deferred gift annuity supplement a qualified retirement plan or an IRA?

Deferred payment gift annuities are an excellent means of supplementing retirement income.

  Single-Life Annuity Payout Rate 
(As recommended by the American Council on Gift Annuities, effective Jan. 2, 2012) 

A Two Life – Joint and Survivor Rate – is available by calling Lisa Bennett, Director of Development at (831) 333-9017 or sending an email to:  lbennett@hospicegiving.org.

Gift annuities are a popular planned giving and retirement vehicle, allowing people the opportunity to simultaneously make a gift and provide for their future financial security.  We would be pleased to answer any other questions you might have, send you a personal financial illustration, or schedule a meeting with you.  There is no charge and you are under no obligation. 

Use our special calculator to see how individual instruments can help you and your family and, at the same time, meet your philanthropic goals. 

(Please note:  You should consult your attorney about the applicability to your own situation of the legal principles described here.  We would be glad to assist you and your advisor in obtaining the exact deduction for a gift you may be considering.)

Many thanks to our event major sponsor Santa Barbara Bank and Trust, which has helped make this free community event possible.

Thanks also for support from: Barbara Holian Mejia Leach and Walker Lavorato & Darling

• Learn what is required of an estate executor or trustee
• Gain a greater level of understanding of the roles and responsibilities of executors and trustees
• Have an opportunity to get your questions answered by the panel of experts
• Learn about tax benefits of a charitable component to your estate plans

There is no charge to attend.
Choose from either of two dates, locations:

Tuesday, May 22, 2012 5:15 p.m. to 7 p.m.

National Steinbeck Center, One Main Street, Salinas, Calif.

Thursday, May 24, 5:15 p.m. to 7 p.m.

Embassy Suites Hotel, Seaside, Calif.

Panelists:

Liza D. Horvath, CTFA, AIF, Vice President, Wealth Advisor, Santa Barbara Bank and Trust

Charles DesRoches, Attorney-at-Law; Noland, Hamerly, Etienne & Hoss (Salinas program)

Jennifer Walker, Attorney-at-Law, Leach & Walker (Seaside program)

We are very grateful for the generosity of our major sponsor, Santa Barbara Bank and Trust, which is helping Hospice Foundation present these community seminars possible.

Reservations are requested; limited seating at both locations.

Thirty years ago, three local golfers conceived the idea of a tournament to raise funds for local hospice care.  Dan Tibbitts of Carmel, Verle Bogue of Pebble Beach and Chuck Pius of Carmel Valley put their heads together to create the Hospice Golf Scramble, gathering together other friends, business associates, family members and others to play.  Since then, the Scramble has raised more than $1.5 million.

Traditionally held the day after Labor Day, this year’s Sept. 4 tournament will be held at the world-renowned, members-only Monterey Peninsula Country Club in Pebble Beach.  Teams of fivesomes, with a flight for ladies, will play on both the Dunes and Shore courses.   This year’s event will pay special tribute to the founders of the Golf Scramble. 

The Hospice Foundation Golf Scramble attracts business and community leaders from throughout the Monterey Peninsula and Northern California.  Over its 30-year history, a few celebrities, from actor/comedian Bill Murray and actor/director Clint Eastwood to Hall-of-Fame golfer Johnny Miller, on occasion have joined the player line-up.

In 1995, Clint Eastwood commissioned a memorial bronze bust for the Golf Scramble to honor the memory of his close friend, Chuck Pius, who died that year.    An engraved plate on the base of the bust reads, “In Memory of Chuck ‘Pope’ Pius, Co-founder and General Chairman of the Hospice Golf Scramble, avid golfer, bon vivant, raconteur, friend of hospice, and everyone he met.”  The bust is displayed during the tournament.  Dan Tibbitts remains honorary co-chair of the Scramble and is joined this year by other honorary co-chair Joann Dost, a long-time Golf Scramble committee member.  Verle Bogue died in 2003.  

This year, event chair Mike Kelly, promises a spectacular day of play for the 30^thanniversary celebration.  He and his army of committee members and volunteers are attending to the smallest detail to ensure a good time for all.

Monterey Peninsula County Club's shore course is world-renowned not only for its play but for its spectacular scenery.

 About Registration

Green fees are $400, which includes the round of golf, lunch, course refreshments, banquet, and a golf cart.  After the day’s play, a cocktail party follows in the courtyard outside the clubhouse, then players and their guests move inside for dinner, the silent auction and later a live auction.

The field is limited for this exclusive golf tournament, so reserve your space now by calling (831) 333-9023.  Registration is not taken online.

Special thanks to Dunspaugh-Dalton Foundation, Tom Werbe, and Kim and Norm Wesley for their generous support of the 30th Annual Hospice Foundation Golf Scramble.  

Featured course photo of Monterey Peninsula Country Club by Joann Dost.

The Southern Comfort BBQ and Auction attracts some 300 Salinas Valley business and community leaders to raise funds for local hospice and end-of-life care programs. In 2012, the event will benefit children's services.

Mark your calendar for this very special event on Saturday, October 13, 2012 when Massa Vineyard in Arroyo Seco will again host Hospice Foundation’s Southern Comfort, a savory barbeque and lively auction, to raise funds for children’s end-of-life care services in South Monterey County.
 
The event attracts some 300 Salinas Valley business leaders and supporters to this beautiful property above the Arroyo Seco River Canyon near Greenfield in California’s Central Coast region.

This will be the third time that Hospice Foundation board member Laurie Massa and her husband Bill have hosted Southern Comfort which has raised a total of $224,000 for South County services.

Cost to attend will be $75 per person, $150 per couple.  To receive updates about Southern Comfort, please connect with us on Facebook or Twitter , watch our website here for a list of fabulous auction items.  For tickets and other information, call Diane Kelly at (831) 333-9023 

Featured photo of Massa Vineyard courtesy of Kirk Kennedy Photography.
Dinner photo courtesy of Cook’s Photography, Salinas.

We are very grateful to have the support of the following businesses and individuals who are helping to make this event possible:
 

Laurie and Bill Massa Ruth Ann Rosenberg Vicki and Gordon Rosenberg Susan and David Gill
Karen and Jim Fanoe King City Young Farmers	SMD Vineyards

More than 100 winners will be drawn in Hospice Foundation’s BIG Spring Raffle and you could be one of them!  Fabulous prizes for eats, treats, and get-aways could be yours this spring if your name is drawn as a winner!

Keep checking back to see additional prizes that we’ll continue to add.

Ticket Options:

1 ticket $9
6 tickets for $50, a 7.5 percent discount off the single ticket price
14 tickets for $100, a 20 percent discount off single ticket price.
Print Tickets Here 
 

Prize Preview

• Night’s stay at Portola Hotel & Spa
• Golf at Bayonet Black Horse Golf Course
• Tickets to PacRep’s production of Fiddler on the Roof
• Dinner at the Sardine Factory, Monterey

SEE PRIZE DONOR LIST as of Feb. 28.

The drawing will be held on May 4 at the Hospice Foundation office, 80 Garden Court, Suite 201, Monterey.  Call for more details at (831) 333-9023.  All proceeds benefit local hospice care programs and services.

Thursday, April 26, 2012, 9:30 a.m. to 2:30 p.m.
University Center, California State University Monterey Bay,
Seaside, Calif. Map

Produced for a national audience by Hospice Foundation of America and hosted locally by Hospice Foundation (no relation), this excellent video presentation and panel discussion, moderated by former ABC News Correspondent Lynn Sherr, will examine the myriad of ethical issues and dilemmas that emerge at the end-of-life.  This is a time when all the factors that influence care such as finances, laws, values, culture, and technology converge. The decisions that are made at the end-of-life affect not only the way that the person dies, but also the ways that survivors face the loss.
Read bios of End of Life Ethics video program experts.

These decisions may influence staff caring for the patient – affecting morale and turnover–and the families who are struggling with their anticipatory grief. This program explores the dilemmas and the principles of ethical decision-making with an expert panel discussion and features case studies to illustrate the issues.

Following the program, our own panel of experts at CSUMB picks up where the video program discussion leaves off and will take questions from the audience.

In addition, local end-of-life care and other service providers–all of whom have received funding from Hospice Foundation–will be on hand with displays and information about their programs.

We are pleased to welcome as our CSUMB panelists for End of Life Ethics:

• Dr. Theodore Kaczmar, Jr. M.D., Neurosurgery, Central Coast Brain & Spine, SVMH Bioethics Committee
• Lisa M. Krieger, Health and Science Reporter, San Jose Mercury News, author of “The Cost of Dying:  It’s hard to reject care even as costs soar,” 
• John O’Brien, President and CEO, Cental Coast Senior Services and board of trustees, Natividad Medical Center
• Stephen J. Pearson, Esq., Law Offices of Noland, Hamerly Etienne & Hoss, SVMH Bioethics Committee
• Moderator:  Dr. John Hausdorff, M.D., Oncology and Internal Medicine, Medical Director, Hospice of the Central Coast; CHOMP Bioethics Committee

Biographies of CSUMB Panelists

Attendance Fees:

$40, which includes lunch, by April 20; $45 after April 20.
Please note:  Parking is $2 from the meter in the University Center parking lot.
 
Optional Book:  End-of-Life Ethics: A Case Study Approach is $35.
Read about the book.

Optional:  Three Continuing Education Units are available:
$30 online AFTER the conference using www.hospicefoundation.org where you will complete online form and evaluation.
$40 at the video conference (not taken in advance), make a separate check out to Hospice Foundation of America

REGISTER NOW FOR CONFERENCE

Cancellation Policy:
You will receive a full refund if cancellation is received by April 20.  After that date we are committed for catering and services and are unable to provide a refund for cancellation.

Hospice Foundation is proud to announce the awarding of $1,418,550 in grant funding to 12 local non-profit providers of hospice care and other specialized end-of-life care programs and services in Monterey and San Benito counties, Central Coast of California, for 2012.

This achievement is made possible because of our donors’ generous support.   Providers serving the needs of children and adults at the end of life will receive funding from Hospice Foundation to help sustain their programs or innovate their services to meet the growing need.   Special programs for Veterans and multi-lingual residents will also receive funding over the next 12 months.

The following organizations are funded for 2012:

• Community Hospital of the Monterey Peninsula – $534,450 for ongoing support of its home and Westland House hospice care for adults, in-hospital palliative care, and individual, group and family bereavement services, and chaplain and volunteer services.

• Central Coast Visiting Nurse Association & Hospice – $390,000 will fund hospice care for adults in Monterey and San Benito counties and funding for the We Honor Vets collaboration with Hospice of Santa Cruz County to reach U.S. military veterans.  It also funds Latino outreach and the development of multi-lingual materials.

• A collaborative award of $277,950 will fund Jacob’s Heart Children’s Cancer Support Services ($117,600), Children’s Hospice and Palliative Care Coalition/Partnership for Children($64,150), and Coastal Kids Home Care ($96,200)- Working together, these three providers will deliver a comprehensive program of care for critically and terminally ill children, as well as emotional, practical and bereavement support for their families.

•  Hazel Hawkins Memorial Hospital, San Benito County – $53,450 will fund the palliative care program that provides pain and symptom management, psychological and spiritual care for its in-hospital patients, as well as its skilled nursing and residential care patients at the end of life.  Bereavement counseling for their families will also receive funding. 

• Central Coast HIV/AIDS Services – $48,100 will fund emotional support programs for people with AIDS who are at the end-of-life, and for their families or caregivers.

• Compassionate Care Alliance – $40,000 will provide operating support for CCA to conduct its community education programs on end-of-life issues, advance care directives, and the Physicians Order for Life-Sustaining Treatment outreach to physicians and other groups.

• Hospice of Santa Cruz County – $22,500 will fund hospice patient care and bereavement services for residents in North Monterey County.  This grant also funds the We Honor Vets outreach program in collaboration with Central Coast Visiting Nurse Association & Hospice that offers services and support to U.S. military veterans.

• Catholic Charities - $20,000will fund professional bereavement counseling for low-income residents of the Monterey Peninsula and North Monterey County who would otherwise not have access to treatment.

• Natividad Medical Foundation – $17,100 will fund the refurbishment of quiet spaces for family grief counseling, and for training of interpreters to communicate effectively with non-English-speaking patients, who are at the end-of-life, and with their families. 

• Alzheimer’s Association – $15,000 will fund training for family and professional caregivers on dementia issues, and provide  families with information, care consultation, community referrals, support groups, and respite services.  The goal is to raise awareness among caregivers about standards of compassionate end-of-life care for advanced dementia patients, including culturally competent care.

Since 1998, Hospice Foundation has awarded $19 million in grants locally to help create, develop and sustain a local network of organizations that provide emotional, bereavement, care-giving and hospice services for people at the end-of-life, and for their families.   Your donations are key to this effort.  Thank you for your support. 

Local author and grief counselor Judy Tatelbaum will present tips and information and answer your questions about coping with grief at the holidays.

In a comfortable, class-style setting, Hospice Foundation will present two free workshops, “Coping with Grief During the Holidays”:

• Saturday, Nov. 5
  Bethlehem Lutheran Church, 800 Cass Street, Monterey, 93940

• Saturday, Nov. 13
  St. Ansgar’s Lutheran Church, 72 East San Joaquin, Salinas, 93901.

Both programs are from 10 a.m. to noon.
Local author and grief counselor Judy Tatelbaum, MSW, will present tips and offer suggestions about how one can successfully navigate the holiday period’s social engagements and perceptions, and mark the remembrance of the person who has died.  Representatives from an array of local grief support groups that are funded by Hospice Foundation will be on hand to offer information about their programs and services.

Light morning refreshments will also be served.

Official Entry Form:  Entry_Form11 

Deadline for submissions is 5 p.m. Friday, Nov. 11, 2011.  Drop off or send your artwork created on our official entry form to:  Hospice Foundation, 80 Garden Court, Suite 201, Monterey, CA  93940.  Faxed or emailed entries cannot be accepted.

Thirteen (13) winners will be chosen, a Best of Show and a First, Second and Third from each region where there is a Tree of Life:  the Hollister/San Benito County, King City/South Monterey County, Salinas/Salinas Valley, Monterey Peninsula.

Best of Show:  $40 Target Gift Card, a Trees of Life crystal ornament inscribed with winner’s name, a light naming opportunity, and a certificate
First Place: $25 Target Gift Card, a Trees of Life crystal ornament inscribed with winner’s name, a light naming opportunity, and a certificate
Second Place:  $10 Target Gift Card, a Trees of Life crystal ornament inscribed with winner’s name, a light naming opportunity, and a certificate
Third Place: a Trees of Life crystal ornament inscribed with winner’s name, a light naming opportunity, and a certificate

Everyone will receive something—either by placing, or receiving an Honorable Mention with their name on it.   ALL of the drawings will be displayed at Hospice Foundation’s Trees of Life lightings and musical celebrations this December in Hollister, King City, Montereyand Salinas. 

 This contest is limited at this time to fifth grade students attending school in Monterey County or San Benito County, California.

Winners will be announced and their drawings posted here on our website at noon on Tuesday, Dec. 1.  A letter will also be sent to the address provided on the form.

If you have any questions, call Jennifer Pettley at 333-9025 or email jpettley@hospicegiving.org.

Good luck!

• Please distribute to the major print media within Monterey County and/or San Benito County a press release about receipt and use of your grant from Hospice Foundation. 
• Please place an announcement in your organization’s electronic media communications, including but not limited to email newsletter and social media outlets.
• Whenever the funded program or service is discussed or featured in your electronic or printed media communications, including marketing and other collateral materials, please mention on first reference that the program is funded in whole or in part by Hospice Foundation.  The Hospice Foundation logo must also appear in proximity to this text.
• If only a listing is used, Hospice Foundation’s logo and the supporting phrase, “(The funded program) is funded (in full or in part) by Hospice Foundation” must appear elsewhere in the publication.  The logo must not appear any smaller than 1/2” wide and 11/16” in height (please refer to the attached Graphic Standards).   
• Please provide samples of all uses in your interim and final reports.

See the clickable high-resolution logos below, a sample press release, and graphic standards.  Right click on the logo and copy for your files.  If you don’t find what you need here or have questions about the above, please give Alice Kinsler or Jennifer Pettley a call at (831) 333-9023.

 Downloadable high resolution logos:

Use of Logo:
GraphicStandards

Sample Press Release Format
Microsoft Word Doc

 Rev. 4/23/2012