McLaren Bay Medical Foundation
Ways to Give

Ways to Give to Help Your Community

Charitable giving is a uniquely personal statement. It can be your way of showing what you consider to be important in the world.

Donations may include cash, securities, real estate, and insurance policies and may be designated for a specific use within the hospital or health care system. A deferred gift, such as a bequest or charitable trust, can also be an important part of your estate plan.

No matter how you choose to give to the Foundation, your contribution is a perfect way to make a lasting contribution to your "community of friends."

hands holding flowers

Each method of gifting offers possible tax benefits to the donor. Benefits may include the following:

  • charitable gift tax deductions
  • tax-free income
  • a full or partial bypass of capital gains
  • taxes on appreciated property
  • possible reduction of estate taxes

Our Director will be happy to provide you and your financial adviser with more information about the potential tax benefits of giving.

McLaren Bay Medical Foundation is grateful for all its donors.  Every gift to McLaren Bay Medical Foundation is recognized in our annual publication. Gifts are recognized on the Wall of Honor prominently displayed in the hospital's main lobby. Whenever possible, contributions are further honored by plaques on equipment, patient rooms or other patient care areas. 

With so many avenues of giving available, you can design a bequest or gift that accomplishes both your charitable and personal goals. Here are just a few ideas on how you can make a gift and discover the benefits of giving:

To make a contribution click here.

Annual Giving Program

Members of the Annual Giving Program provide a source of support that McLaren Bay Region can count on, year after year. Donors make an annual contribution and are recognized at different giving levels.

Giving opportunities:  

  • Foundation Club - Gifts of $99 or less
  • Cornerstone Club - Gifts of $100 - $249
  • Cornerstone Club (Bronze Level) - Gifts of $250- $499
  • Cornerstone Club (Silver Level) - Gifts of $500 - $749
  • Cornerstone Club (Gold Level) - Gifts of $750 - $999
  • Keystone Club - Gifts of $1,000 - 9,999
  • Presidents Club - Gifts of $10,000 to 14,999
  • Trustee's Club - Gifts of $15,000 to 24,999
  • Chairman's Club - Gifts of $25,000 to $49,999
  • Visionary Circle - Gifts of $50,000 plus
  • Every dollar donated to the foundation stays rights hear in our local area touching lives by meeting needs that go beyond the hospitals normal operating expenses

    Donate to help your community.

    Thank you for making our community a better place.

    Bequests in Wills and Living Trusts

    Perhaps the best-known method of creating a legacy, a bequest in your will or trust is a wonderful way to benefit future generations by your philanthropy. You may transfer any type of property: cash, stock, real estate, etc. You may transfer a fixed amount, a fixed percent, or the "residue" of your estate left after taking care of other beneficiaries.

    Help us in passing along the spirit of caring

    Charitable Estate Planning

    Each year, the Foundation receives bequests and other planned gifts from donors with the foresight to plan for the future. Planned gifts can include such things as:

    • bequests in wills and living trust agreements
    • life insurance beneficiary designations
    • bequests of pensions and IRAs
    • remainder interests in homes
    • charitable remainder trusts
    • charitable lead trusts
    • gift annuities

    The magic of life is giving

    Charitable Gift Annuities

    Charitable gift annuities (CGAs) are one of the simplest and most popular forms of life income gifts. It involves a simple agreement whereby the charity accepts a gift of cash, securities, or property and agrees to pay a specified, fixed dollar amount to the annuitant (the donor or another beneficiary).

    The fixed amount is set by the American Council on Gift Annuities and is based on the annuitant's age. Because the gift is irrevocable, the charity maintains control of the gift and becomes responsible for paying income for the lifetime of each annuitant.

    Your caring will work magic for future generations by helping build a better community healthcare system.

    Charitable Lead Trusts

    A charitable Lead trust is designed to reduce beneficiaries taxable income by first donating a portion of the trusts income to charities and then, after a specified period of time, transferring the remainder of the trust to the beneficiaries

    The whole idea of a charitable lead trust is to reduce taxes upon the estate left by the deceased. This is done by donating to charities from the estate until all taxes are reduced. Once this is accomplished, the estate is then transferred to the beneficiaries who typically will face lower taxes.

    Thank you for considering McLaren Bay Medical Foundation as you charity of choice.

    Charitable Remainder Trusts

    An arrangement in which property or money is donated to a charity, but the donor (called the grantor) continues to use the property and/or receive income from it while living. The beneficiaries receive the income and the charity receives the principal after a specified period of time. The grantor avoids any capital gains tax on the donated assets, and also gets an income tax deduction for the fair market value of the remainder interest that the trust earned. In addition, the asset is removed from the estate, reducing subsequent estate taxes. While the contribution is irrevocable, the grantor may have some control over the way the assets are invested, and may even switch from one charity to another (as long as it's still a qualified charitable organization). CRTs come in three types: charitable remainder annuity trust (which pays a fixed dollar amount annually), a charitable remainder unitrust (which pays a fixed percentage of the trust's value annually), and a charitable pooled income fund (which is set up by the charity, enabling many donors to contribute).

    A charitable remainder trust is a way to "have your cake and eat it, too". You create a trust, donate property to that trust, and the trust makes regular payments to you or someone you designate. You choose the payout rate. (No less than 5%; not more than 50%). A charitable remainder trust can be an excellent way to convert non-income producing investments to income-producing, to minimize capital gains taxes on appreciated property, and to supplement your income, as well as creating a legacy. The tax laws provide income, capital gains, and estate tax benefits for establishing a charitable remainder trust.

    The terms in years for a charitable remainder trust cannot exceed 20 years.

    Help the sun shine today and brighten tomorrow's experiences

    Employee Giving Campaign

    Since 1985, employees have contributed over $2.2 million with every penny, nickel, dime and dollar staying here in our community.  

    Over the past few years, this process has benefited many patients and has given employees the convenience of readily available equipment at their fingertips when needed. 

    To Learn More and Donate

    Endowments

    An investment fund set up by an institution in which regular withdrawals from the invested capital are used for ongoing operations or other specified purposes. Endowment funds are often used by nonprofits, universities, hospitals and churches.  They are funded by donations, which are tax deductible for donors.

    There are usually three main components to the typical endowment fund:

    1. Investment Policy: This policy dictates the types of investments the fund manager can make and how aggressive he or she can be in meeting return targets.
    2. Withdrawal Policy: This policy determines the amount that the institution can take from the endowment fund at each period and is usually based on the institution's needs as well as the amount remaining in the fund. 
    3. Fund Usage Policy: This policy ensures that the money from the endowment fund is being used properly and for the purposes set out by the fund. Those who establish such funds may designate the purpose for which they are used.

    The Bay Medical Foundation Endowment Fund was established in April 1991. Annual yield on the Endowment's untouchable principal assures income in perpetuity to McLaren Bay Region, an income that continues to grow as the Endowment prospers.

    With the escalating cost of healthcare your endowment improves the value
    of our community by allowing for continued advancements in healthcare.

    Legacy Society

    A Legacy is an inheritance. It is a gift from a predecessor or from the past, in truth we all have received many "legacies" from those who preceded us.

    McLaren Bay Medical Foundation has created a "Legacy Society" to recognize and honor those who have the vision and foresight not only to be concerned about those who follow, but also who have taken the action to do something. These gifts of the future, and for the future, are selfless expressions intended to care for people the donor may never meet.

    By providing gifts from our estates, either today or tomorrow, we are assuring future generations a high standard of care.

    Members of the Legacy Society are those who notify McLaren Bay Medical Foundation that they have:

    • Remembered the Foundation through a bequest in their will
    • Included the Foundation in a revocable trust
    • Established a Charitable Trust naming the Foundation as beneficiary
    • Named the Foundation as owner/beneficiary of a life insurance policy
    • Are supporting future programs of McLaren Bay Region through a charitable gift annuity

    Members of the Legacy Society will have their names listed on the donor wall at McLaren Bay Region main campus.

    Unless specifically designated all donations from legacy gifts will be placed in the Foundation's endowment fund with the principal professionally managed into perpetuity. A portion of the annual earnings will be used to encourage wellness, prevent sickness, diagnose illness, heal the infirm, encourage the depressed and comfort the dying.

    Unfortunately, we will always exceed traditional resources, but gifts from the Legacy Society can assure that the most important voids are filled.

    The Legacy Society was founded to thank members for their generosity and care on behalf of the patients and family members who benefit from their acts of kindness.

    Concern for others expressed through a gift to the Legacy Society is a true mark of stewardship. It insures that the material assets we have been blessed with during our lifetime are shared with others in a planned and purposeful way after we have departed.

    If you have questions about our Legacy Society feel free to contact us at 895-4725.

    We thank you for your support.

    Life Insurance

    Naming the Foundation as beneficiary or partial beneficiary of a life insurance policy is the easiest way to create a legacy. All you need to do is sign a beneficiary designation form. If you use group life insurance, there may be income tax benefits as well as estate tax benefits. Older policies that are no longer needed (such as GI insurance) can be donated to the Foundation, entitling you an income tax deduction.

    Make your life shine.

    Memorial and Honorarium Giving

    Memorial and Honorarium Giving

    The next time you are faced with searching for a way to help express your feelings, consider an honorary or memorial gift that will be recognized and appreciated by others for years to come. A gift to Bay Medical Foundation can be a fitting, personal way to honor the memory or successes of a loved one, or mark other milestones in life.

    When the tribute is in memory of someone dear, the Foundation will notify the family of your kind act, but will not disclose the amount of your donation.

    The following are excellent occasions for donating:

    • Anniversary
    • Birthday
    • Holiday
    • Retirement
    • Appreciation
    • Graduation
    • Memorial
    • Other

    To make a contribution click here.  

    Memorial Tree Program

    The McLaren Bay Medical Foundation’s Memorial Tree Program is held twice a year, the last Wednesday evening in May and the first Sunday afternoon in December. Families and friends can make a special tribute in memory or honor of someone dear. The names of loved ones remembered will be read at the ceremony. Complimentary refreshments are served following

    You can be part of this event by making a special tribute in memory or honor of someone dear to you. The names of loved ones remembered will be read at the ceremony and displayed in our chapel for approximately six months.

    Please contact McLaren Bay Medical Foundation at (989) 895-4725 for more information.

    memorial tree program logo

    Memorial Tree brochure

    A memory is a special gift that survives

    Pensions IRAs and Annuities

    Retirement plans are subject to double taxation (income taxes and estate taxes), so these are often the best assets for creating a legacy. In some cases, the combination of income and estate taxes can deplete a retirement plan by 70 percent or more. Naming the Foundation as the beneficiary of your retirement plans can save both income and estate taxes, creating maximum tax "leverage."

    If you have any questions concerning the taxes on these plans please consult your Financial Advisor.

    It's in giving that we all receive

    Pensions IRAs and Annuities

    In general terms, a remainder interest refers to someone with a future interest in an asset. It may be a future interest in the estate created by a trust, a contingent interest when a life tenant surrenders a claim to the estate, or a vested interest that becomes effective at a specified future date. It is often created when a grantor leaves a property to pass on upon the grantor's death.

    For example, a charitable remainderman is a charitable organization that receives the assets remaining in the charitable remainder trust (CRT), when the trust reaches its term. The charitable remaindermen must be named expressly in the trust document or according to specific instructions and criteria in the trust document.

    Through the gift of a remainder interest landowners can enjoy their property while knowing that their land will go to an organization to support its work.

    Please consult your legal advisors when addressing these plans. Or you can contact our Planned Giving officer at 895-4725.

    You can get a current income tax deduction by giving the foundation a remainder interest in your home, while you continue to live there.

    Thank you for giving wholeheartedly.