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Gift Planning

Funding A Cure: Bob and Debbie Walker

After years of supporting the children's hospital in their former hometown of Tampa, Florida, Bob and Debbie Walker didn't miss a beat when they made the move to Kansas City in 1996. The couple made a gift of stock to Children's Mercy that first year in town and Debbie arranged a tour for her daughter's Girl Scout troop of the Ronald McDonald House located across the street from Children's Mercy.

A few years later, Bob and Debbie came to Children's Mercy for their own tour of the hospital. The Walkers met with Dr. George Gittes, Surgical Research Director for Children's Mercy and the Thomas Holder/Keith Ashcraft Chair in Pediatric Surgical Research. "During our tour," says Bob, "we got a real sense of the wonderful work that goes on at Children's Mercy every day. The passion and optimism we saw was nothing short of inspirational."

After learning about Dr. Gittes' work to cure diabetes, the Walkers began dedicating their stock gifts to his research. For several years now, Dr. Gittes' laboratory has benefited from the generosity of the Walkers. "The generous gifts from Bob and Debbie Walker," says Gittes, "have been a great catalyst to our laboratory's efforts to cure diabetic children."

For the Walkers, funding medical research furthers the impact of their donated dollars. "Research is very expensive and unfortunately, many people don't support it because it does not immediately help people," explains Debbie. "But it has the potential to help millions. Simply put, without research, you don't have cures."

The Walkers make gifts of appreciated stock, rather than cash, because it allows them to avoid capital gains tax. "It just makes sense to gift stock," says Bob. "Debbie and I would not be able to keep the full value of those stocks, but Children's Mercy can. Most importantly, it makes you feel like you're a part of the wonderful success that occurs at Children's Mercy everyday."

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A charitable bequest is one or two sentences in your will or living trust that leave to Children's Mercy 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 Children's Mercy, a nonprofit corporation currently located at Kansas City, MO, 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 Children's Mercy 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Children's Mercy as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Children's Mercy 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 Children's Mercy where you agree to make a gift to Children's Mercy 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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