Smart Giving: Charitable Gift Annuities Also Benefit Donors
Mary Bennett has a unique connection to Children's Mercy. Her late husband, Paul, was treated as an infant by hospital founders Dr. Katharine Berry Richardson and Dr. Alice Berry Graham in 1925.
Mary is giving back by making Children's Mercy a beneficiary in her will as well as through establishing a charitable gift annuity, which makes regular, partially tax-free payments to her throughout her lifetime.
Learn how this charitable gift annuity works and how Children's Mercy came to be...
Why a charitable gift annuity?
Mary was eager to create a gift annuity to supplement her retirement income while also helping the children and families served by Children's Mercy. A charitable gift annuity is easy to create.
With a minimum gift of $10,000 and a signature on a simple one-page agreement, the Children's Mercy Hospital Foundation will provide a dependable income for the donor's lifetime. The donor may also qualify for an income tax charitable deduction when they itemize, and part of the payments received are tax free. Upon the donor's death, the balance of the annuity is used to support the mission of the hospital.
Essentially, donors giving through charitable gift annuities are making their assets work for them and Children's Mercy at the same time. Using appreciated stock to establish this type of gift annuity is particularly smart, as it can help you avoid capital gains taxes.
"I don't like to owe a debt," Mary says. "By giving to the hospital, I'm helping to make sure some families don't have to owe a debt. And, if I get a little something in return, all the better!"
Learn more about Charitable Gift Annuities at Children's Mercy.
Mothers of Mercy
The history of Children's Mercy is truly remarkable. It all started in 1897 when Dr. Katharine Berry Richardson and Dr. Alice Berry Graham rented a bed and supplies at a maternity hospital in downtown Kansas City to save a young girl's life after her mother could no longer afford to care for her.
Hospitals would not hire female physicians at the time, so they ended up starting their own practice funded by private donors. The sisters broke through gender barriers and racial barriers in the once segregated city. They purchased the maternity hospital when it went bankrupt in 1899. The pair treated all children—regardless of their family's ability to pay—and Children's Mercy was born. The hospital continues to provide care for all children who walk through our doors.
"My heart goes out to all the families at Children's Mercy," Mary says. "I want to help them because we've been in their shoes. In addition to my husband receiving excellent medical care as a child by the founders themselves, we also have a great-niece who had surgery for three holes in her heart. It was a complete success. Treatment here is remarkable. It always has been. I'm happy to support the hospital and hope others do, too."