Frequently Asked Questions
- Can I create income with my gift?
Yes! Advocate Charitable Foundation has many plans for Gifts That Pay You Income. You can also provide income for a child, a grandchild, a parent, or a friend. That income can increase cash flow now and/or during retirement, pay for a college education, provide income for aging parents, or perhaps assist a loved one with special needs. You can also provide income to an Advocate hospital or program by using a Charitable Lead Trust.
- I am unable to make a current gift, but I'd still like to support Advocate in the future. Any ideas?
An easy and low-cost way to make a gift to an Advocate hospital or program is to include Advocate Charitable Foundation in your will or revocable trust. Gifts by Will are a major source of endowment support at Advocate. Each individual legacy contributes to our financial strength and ability to meet the needs of our patients and their families. If you have not already done so, please consider putting Advocate Charitable Foundation in your will or revocable trust. See our Bequest Language page for samples of how to do this. You can also designate the Foundation as the beneficiary of Life Insurance, annuities, or Retirement-Plan Benefits.
- What asset should I use to make my gift?
While cash or a check is a simple way to make a gift, you might want to consider the following:
Gift Type Possible Benefits Cash Current income-tax deduction
Appreciated securities, such as stocks, bonds, or mutual funds Elimination or reduction of capital-gain tax
Current income-tax deduction
Transfer of residential, commercial, or undeveloped real estate Elimination or reduction of capital-gain tax
Income- and estate-tax savings
Relief from management
Donate an interest in closely held or family business stock Reduce the cost of passing the business to heirs
Income- and estate-tax savings
Give us tangible personal property like art, books, or collectibles An income-tax charitable deduction Make Advocate Charitable Foundation the owner and beneficiary of life insurance or annuities Income- and estate-tax savings
- Can I direct how Advocate Charitable Foundation will use my gift?
Most often the answer to this is “yes”! Many donors direct that their gifts be used to fund Advocate’s hospitals and programs or support specific system-wide service lines. Please be sure to discuss this with our gift planning staff when you make your gift.
- How will Advocate Charitable Foundation recognize my gift?
Your gift will be acknowledged and recognized in the year you make the gift. If your gift is a bequest commitment or given through life insurance, life-income plans, or lead trusts, you will become a permanent member of our Amicus Society. If you make a major gift to a capital campaign, naming opportunities may be available as well. Of course, we will also honor any requests for gifts to be anonymous
- Why should I consider a gift to Advocate?
Gifts are made for many different reasons. Often gifts are made:
- To express gratitude for the care you received
- To honor a loved one
- To ensure that Advocate remains a vibrant and strong resource for tomorrow’s patients
- To help Advocate provide the very best in care to patients and their families, regardless of their financial circumstances
- To celebrate a special occasion
Please contact the Gift Planning Office for more information.
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