Ways of Giving
Our community’s generous contributions help support the excellent care provided at Verde Valley Medical Center. VVMC is a 501(c)3 nonprofit organization. Contributions to the VVMC Foundation are tax-deductible to the fullest extent of the law.
You can designate your gift to any program or area of care at VVMC, or request your gift be used where the need is greatest.
Cash, Check or Credit Card
Cash and credit card gifts may be delivered and processed in person at the VVMC Foundation office. Checks may be made payable to the VVMC Foundation and mailed to:
1200 N. Beaver St.
Flagstaff, AZ 86001
Gifts by credit card may be mailed to the address above or called to the Foundation at 928-773-2093, or click the DONATE ONLINE link below:
Click here to DONATE ONLINE
Appreciated Stock/Securities or Property
If you have property, stocks, bonds or certificates of deposit, or other investment tools that have increased in value since you purchased them, you may want to consider making a gift of these items instead of cash.
This is a great method for making a significant gift with little or no effect on your current income. In many cases you can deduct the full, current value of the asset, not just what you paid for it.
To transfer gifts of securities or property, call the Foundation at 928-773-2093. We will work with you to develop a clear plan for your property gift, including an appraisal and method for sale.
Many companies will match employee to nonprofit organizations. Contact the Human Resources Department at your place of employment to learn if your organization participates in a matching gift program.
Your company or private foundation can invest in one of our programs at VVMC, or sponsor a special fundraising event. Contact the Foundation at 928-773-2093 to learn more about sponsorship opportunities and naming recognition options at VVMC.
Through planned giving, donors establish their personal financial goals in a well-conceived estate plan that includes a gift to a charitable institution like Verde Valley Medical Center. Planned giving represents an enormous opportunity to gain income and tax benefits through philanthropy. Planned giving also may be called Deferred giving.
Planned giving results from careful discussions with a financial planner, accountant, attorney or other qualified professional. Never try to create a Panned giving strategy without professional advice; hard-earned dollars could needlessly be sacrificed to income and estate taxes in trying to save a few dollars up front.
Because financial situations vary from person to person, no single approach to estate planning is applicable across the board. Estate plans can be tailored to fit a wide variety of purposes and financial profiles. Generally speaking, a planned gift can:
- Create an estate that provides current and future financial security.
- Protect as much income from federal taxes as is allowed by law.
- Maximize the amount of assets that will pass to heirs and beneficiaries.
- Provide continued, meaningful support for the charities that have been important throughout a person's lifetime.
Regardless of age or net worth, making or updating a will is one of the smartest and easiest steps an individual can do to plan for his or her family's future. Without an up-to-date will, a person gives up the right to distribute his or her estate to family, friends and favorite charitable organizations in the manner preferred. If a person dies without a will, state laws determine how property will be distributed.
At least six important provisions can be made in a will:
- Distributions: You determine what becomes of your assets, which family members receive what, and in what proportions.
- Dependents: You avoid distributing property through a trust to someone who isn't qualified to, or comfortable with, managing large sums of money, such as a child or elderly relative.
- Bequests: You cannot leave anything to anyone outside your family without a will (or contract).
- Personal representative: Without a will, the court will name an estate administrator and approve a fee for his/her services. With a will, you determine who will settle your affairs.
- Charitable gifts: You may wish to play a continuing role in the work of a favorite charity like Flagstaff Medical Center. You may leave a specific dollar amount, a percentage or the residue of your estate.
- Memorials: You can pay special tribute to a loved one by perpetuating his or her personal dedication to the ideals represented by a particular charity.
In a charitable trust, a contributor transfers appreciated real estate or stocks to a tax-exempt trust. The trust can sell the assets at full market value and receive the re-invested proceeds. The donor (and spouse or anyone else so designated) receives an income for the rest of his or her life, plus significant tax advantages. Upon the death of the beneficiary(ies), the assets pass to the non-profit organization.
Charitable trusts are an ideal way to convert highly appreciated assets (such as real estate or stocks) into a lifetime source of income without having to pay capital gains taxes on their sale, or estate taxes, upon a donor's death. At the same time, trusts provide a meaningful benefit to a deserving charitable organization.
When appreciated assets are sold outside of a trust, the owner receives fewer funds to reinvest after capital gains taxes are paid. If those same assets are placed in a charitable trust before selling them, the owner can avoid capital gains taxes, have more money to reinvest and receive an estate tax benefit.
There are two types of charitable trusts: a charitable remainder annuity trust and a charitable remainder unitrust. They differ in terms of how income to the donor is calculated.
An annuity trust provides the security of a fixed annual payment. A unitrust provides a variable income payment based on an annual valuation of the trust's underlying assets. With a well-managed unitrust, assets can build quickly because they grow tax-free, leading to higher income and a good hedge against inflation as the value of the trust rises.
In certain cases, it is possible to fund a charitable remainder trust using property that is encumbered by a mortgage. Through careful planning with qualified advisors, VVMC Foundation can help donors address the special issues in these situations in a satisfactory manner.
A charitable gift annuity is a contract between an individual and a charitable institution. The donor transfers cash or other assets, such as securities, bonds or mutual funds, to the institution. In exchange, donors receive regular payments of a guaranteed amount throughout their lifetime.
The payment amount is determined by the donor's age when the annuity is initially funded. The older the donor, the higher the rate, and vice versa. Current rates begin at 6.7 percent for an annuitant at age 55, and reach a limit of 12 percent for someone 90 years of age or older.
Once the payment is determined, it remains fixed for the donor's lifetime. This makes gift annuities ideal for those who like the security of knowing what their monthly income will be for the rest of their lives. Donors also receive an income tax deduction in the year the gift is made, and the portion of each monthly payment that represents the principal will be tax-free.
Some donors prefer to make a gift now but receive their income at a future point when they are in a lower tax bracket; this is called a deferred gift annuity. This allows donors to take an immediate tax deduction for the gift and specify a future date for the payments to begin.
Individuals can provide lifetime payments for a spouse or loved one by setting up a gift annuity in a will. The annuity becomes effective upon the donor's death and fixed payments begin immediately.
Pooled Income Funds
A pooled income fund is a special trust fund that accepts irrevocable gifts from separate donors and co-mingles the funds for investment purposes.
A gift of life insurance is an often-overlooked, yet beneficial, method of making a meaningful contribution to VVMC Foundation. An individual may choose one of the following:
- Name VVMC Foundation the owner of a policy that has outlived its original purpose, such as providing for a college education or insuring a business or mortgage.
- Purchase a new policy and name VVMC Foundation as owner and beneficiary; premiums you pay are deductible as cash contributions.
- Buy a life insurance policy to replace the amount of assets given in another gift already given to VVMC Foundation.
- Name VVMC Foundation as a secondary or final beneficiary on an existing policy.
Income taxes and estate taxes can severely deplete the retirement savings accounts of many people after their passing. By naming VVMC Foundation as the beneficiary of the remainder of your assets in an IRA or other employee benefit plan, you can avoid this tax burden and make a generous gift. This gift needs to be considered within your overall estate plan and the wishes you have for your heirs.
Retained Life Estate
If you wish to make a significant gift to VVMC Foundation by using your home, vacation condominium or farm, but want to continue to live there, a retained life estate will provide you with a significant income tax deduction.
Gifts to Verde Valley Medical Center can be made in one of two ways. Unrestricted contributions are applied where the need is greatest. Restricted contributions are made to a specific program or service, such as to purchase new equipment, fund a community outreach program or support a clinical project.
If you are leaning toward a particular use for your gift but are unsure about the specifics, the VVMC Foundation can help you identify potential funding opportunities. For more information, please contact VVMC Foundation at 928-773-2093.
A gift of any size can be made in honor or in memory of someone. Remember a loved one, recognize a doctor or caregiver at VVMC, celebrate a special occasion with a gift designated to a specific program or fund, or donate to the hospital’s greatest need. If you choose to make your gift in the name of a specific individual, we will send a message to the person or family of the person being honored.
Please contact the Foundation for other ways of giving.