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Gift Planning

Inspiring Others to Give: Peggy and Terry Dunn

Terry and Peggy Dunn

Terry and Peggy Dunn

"When you see people you know and respect in the community coming aboard and leaving philanthropic dollars to those organizations, others are encouraged to do so also." - Peggy Dunn

Children's Mercy have benefited from the philanthropic spirit of Kansas City's Dunn family for generations. As longtime hospital activists and supporters, Peggy and Terry Dunn have continued this family tradition. Peggy is a member of the Children's Mercy Governing Board and is mayor of Leawood. Terry is president and CEO of J.E. Dunn Construction. Both find motivation in improving the quality of life in their community.

Terry explained, "Certainly having a quality children's hospital that's delivering care, while at the same time helping people who cannot afford quality health care, is an inherently important component of this community. Both of us feel very strongly about giving back to these worthy causes."

This desire to help improve the quality of life in their community has led the Dunns to include Children's Mercy in their charitable estate plan. "I think it's important for a person to ask the questions ‘What is important in life?' and ‘How can we make a difference?' " said Terry. "Many people do not take the time to properly plan their future. [Making a deferred gift] is an opportunity for people to step back and look at the essence of their life, why they are here and what they have done."

One of the important aspects of the Dunn's deferred gift is that they notified Children's Mercy of their plans. "I think it's very important to know there is a relationship there," said Terry. "It's important that the person who is the giver and the person who is the receiver understand their relationship, understand the level of commitment and continue the relationship moving forward. Plus, it's a tremendous asset for the hospital to have these expectancies. It really helps Children's Mercy understand and anticipate what is expected to be contributed."

Peggy agreed that informing Children's Mercy of deferred plans and allowing acknowledgement of the gift has a positive effect. Peggy cited as an example the recent gift made by Graham Hunt in honor of his wife, Judy. "Certainly, I think the Hunt gift being recognized is going to inspire others to want to give as well."

Above all, Peggy and Terry Dunn remain appreciative of being able to make a deferred gift to Children's Mercy. "We believe," said Terry, "that it is a tremendous asset to the youth of our region and very deserving of our personal commitment. We are quite confident of their continued success."

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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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