Planned Gifts

Our founders — the Will County Union of King’s Daughters and Sons, raised money to build the original Hospital on the eastside of Joliet, IL. Today, gift planning continues to build on that legacy, while also offering Silver Cross Hospital supporters a way to make a lasting impact on the communities we serve.

Gift planning is a creative process that allows you to express your personal values by integrating your charitable, family and financial goals. A variety of options are available for you to plan for tomorrow, today.

In addition to making a current outright gift (writing a check, transferring securities or signing a multi-year pledge), you can choose a life-income gift (which pays you and/or your spouse an income for life) or a testamentary gift (which occurs after your lifetime).

What to Give

Each of these assets offers different advantages, such as tax benefits and ease of transfer.

  • Cash
  • Stocks, Bonds, Mutual Funds
  • Real Estate
  • Tangible Personal Property (art, jewelry)
  • Life Insurance Policy
  • Retirement Plan Assets and/or IRAs

How to Give

Different giving vehicles offer a variety of advantages, including gift, income, estate, and capital gains tax benefits, which can maximize the benefits to your family and Silver Cross Hospital.

Out-Right Gift

You can make an outright gift of:

  • Cash
  • Stocks, Bonds, Mutual Funds
  • Real Estate
  • Tangible Personal Property (art, jewelry, etc.)
  • by transferring any of the assets directly to:
    Silver Cross Hospital Foundation
    1900 Silver Cross Boulevard
    New Lenox, Illinois 60451

You can make a donation online using your credit or debit card.

With each gift, you will receive an acknowledgment letter confirming the designation of your gift.

Deferred or Life-Income Gifts

IRA Charitable Rollover

If you are age 70½ or older the IRA Charitable Rollover provision in the tax code can be a savvy way to make a gift to support Silver Cross Hospital. This kind of gift will count as part of your Required Minimum Distribution. You can make an IRA Charitable Rollover gift through a direct transfer from your IRA to Silver Cross Foundation.

Multi-Year Pledge

A multiyear pledge is a recurring support that helps sustain the mission of Silver Cross Hospital. For example, a traditional $100,000 pledge could be paid in increments of $20,000 a year, for a period of five years. However, we can offer the flexibility of fulfilling it in a variety of ways. We will work with you to create a schedule that best suits your needs.

Gift Annuity

A charitable gift annuity is a simple agreement in which we promise to pay you, or you and another person you name, a lifetime income in exchange for your gift. The payment amount is fixed at the time you establish the gift and generally is paid in quarterly installments. In addition to immediate payments, gift annuities can begin paying you at a later date. Payments can be deferred to a specific date, such as for retirement, or flexible, which can be “turned on” at some point in the future. The benefit of a deferred or flexible gift annuity is that the longer you wait to begin payments, the higher the payments will be.

Charitable Remainder Trust

A charitable remainder trust generally is considered when there are multiple beneficiaries. It can provide income to you, you and your spouse, or you, your spouse and your children for life or for a term of years, in exchange for a gift. The payment can be fixed (annuity trust) or variable, based on the year-end market value of the trust (unitrust).

Charitable Lead Trust

A charitable lead trust may appeal to individuals who wish to make a gift but retain the property in their family. You can establish a lead trust that provides income to Silver Cross Hospital Foundation over a set period. At the end of the trust term, the remaining principal either is returned to you or distributed among family. The advantage of this type of gift is that it can significantly reduce or even eliminate gift or estate taxes.

Retained Life Estate

A retained life estate is a gift plan that allows you to donate a home to Silver Cross Hospital Foundation retaining the right to live in it for the rest of your life. A gift to Silver Cross Hospital Foundation of the remainder interest in a personal residence provides you with a current charitable deduction and may allow reduction or elimination of capital gains tax on the property’s appreciation. You retain the right to live on the property, but continue to be responsible for all routine expenses – maintenance fees, insurance, property taxes, repairs, etc.

Testamentary

Bequests - Gifts by Will or Trust

Life Insurance

Very simply, you could name Silver Cross Hospital Foundation as the beneficiary of your life insurance policy. Alternatively, you can make a gift to Silver Cross Hospital Foundation of your paid-up policy, or buy a new policy and name Silver Cross Hospital Foundation as the owner and beneficiary. With a gift of a paid-up life insurance policy, you can enjoy a charitable tax deduction for the cash value of the policy at the time of the gift. With the purchase of a new policy, you would establish the policy and then transfer ownership to Silver Cross Hospital Foundation. If there are premium payments that remain to be paid, you could make annual gifts to help cover the cost of the premiums, which also would be tax-deductible to you.

Retirement Plan Assets

Naming Silver Cross Hospital Foundation as a beneficiary of your retirement plan can offer you significant value. The taxation your retirement savings likely would incur if left to your heirs may be avoided if the assets instead are gifted to Silver Cross.

Contact Us

Our gift planning professionals can work with you to personalize a plan most beneficial to you and your family. If you or your financial advisor would like more information, please contact:

Tracy Simons
Executive Director, Silver Cross Foundation
815-300-7113
tsimons@silvercross.org

How to Make a Donation

Donate to the Silver Cross Foundation now or call (815) 300-7105 for more information.

DONATE NOW

Physicians on Silver Cross Hospital’s Medical Staff have expertise in their areas of practice to meet the needs of patients seeking their care. These physicians are independent practitioners on the Medical Staff and are not the agents or employees of Silver Cross Hospital. They treat patients based upon their independent medical judgment and they bill patients separately for their services.