- Areas You Can Support
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Tom and Betty Scott's love of Saint Luke's has a long and varied history. They have both been patients at Saint Luke's for many years. Betty was employed as the office manager for Christopher Y. Thomas, M.D., and his partners for 40 years. Tom has served on the board of Saint Luke's Foundation since 2001.
"I spent lots of time in the emergency room as a child, getting care for cuts, bruises, and broken bones," said Tom. "It's amazing to see how the hospital has grown since that time."
In 1998, the Scotts gave one of the most unique gifts in Saint Luke's history. They donated a building near the Saint Luke's Hospital campus that eventually became a dialysis facility.
In exchange, Tom and Betty receive a gift annuity that will provide income for the rest of their lives.
The Scotts have also been generous benefactors and supporters of many areas of the hospital, including medical education and research programs. "
Saint Luke's is such a part of our community, and there is such need," said Betty. "We feel our support is giving back to the community.
"Tom and Betty feel strongly about not only the history and tradition of Saint Luke's Hospital, but also about its growth.
"Tom and I have many reminders of the incredible changes, accomplishments, and milestones in the history of Saint Luke's," said Betty. "But it's not just about yesterday—it's about today and tomorrow as well."
The Scotts frequently mention what their friend Barnett Helzberg says about philanthropy: "Giving is so much fun!"
Tom and Betty feel fortunate that they have been able to contribute both time and monetary gifts to help support positive growth and preserve the "presence of care" Saint Luke's is known for.
"A friend showed me a letter my mother sent her many years ago," said Betty. "In it she said, ‘Every day is a real Thanksgiving day if we look at it in the right perspective.' Tom and I are thankful for many blessings, including our involvement with Saint Luke's."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to Saint Luke's Foundation 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, devise and bequeath to Saint Luke's Foundation of Kansas City, Missouri, a Missouri not-for-profit corporation, ("____ percent of my estate" or "the sum of ____" or "the residue of my estate").
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 Saint Luke’s Foundation 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 Saint Luke’s Foundation 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 Saint Luke’s Foundation 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 Saint Luke’s Foundation where you agree to make a gift to Saint Luke’s Foundation 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.