You’ve spent a lifetime providing for loved ones, planning for retirement, and investing in the people and causes you care about most. Along the way, your values have shaped the choices you’ve made with your time, talents, and resources. Those same values likely guide your charitable giving. The organizations you support reflect what matters most to you. But how can you ensure those values continue to make a difference for years to come? One powerful way is through an endowed fund. An endowed fund allows your generosity to create lasting impact, support the causes you care about today, and help carry your values forward for future generations.
What is an endowment?
An endowment fund is an investment fund established to last forever. This type of gift enables you to establish the purpose of your fund and define the area you wish to support. At Baystate Health Foundation, donors may choose to establish an endowment to support a community hospital or a specific area of care that is meaningful to them, such as heart and vascular care, hospice care, or education and training for future physicians. The original gift is invested so the principal value grows over time. A percentage of the fund’s earnings is distributed each year to the specified purpose.
Endowment gifts to Baystate Health Foundation establish permanent, living legacies and provide vital resources that can be counted on year after year. An endowed fund offers a meaningful way to link your name and values—or that of a loved one—with Baystate Health Foundation in perpetuity—supporting elements of our mission that are most important to you and yours.
How can I create an endowed fund?
The minimum gift to establish an endowed fund at Baystate Health Foundation is $25,000, which may be pledged over multiple years. You may choose to fund your gift outright; through a donor advised fund; through a gift of cash, stock, or real estate; or from the cash value of a life insurance policy you no longer need. For donors over age 70.5, a gift from your IRA may be the most tax-savvy way to give.
You may also create a legacy endowment without giving up any assets now. For instance, you could include a gift in your will or trust; create a beneficiary designation from a retirement, bank or investment account or life insurance policy; or fund through the distribution of remaining DAF assets via a DAF succession plan.
Baystate Health Foundation will work with you to create an agreement that captures your wishes, ensuring your gift carries on your legacy—or that of a loved one—for generations to come.
What are the next steps?
To explore ideas and options, reach out to Kylie Johnson at 413-794-7789, Kylie.Johnson@BaystateHealth.org.