Ways to Give
The Lompoc Hospital District Foundation is a completely autonomous charitable nonprofit organization established to receive direct contributions and participate in recognized forms of Deferred Giving agreements. When you contribute to the Foundation, you not only support the health care institution but gain a tax advantage as well. The Foundation is recognized by federal and state governments and all monetary gifts are tax-deductible to the extent they do not exceed the contribution limitations of tax laws.
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Honorary / Memorial Gifts
Memorial gifts are a timeless and respectful way to honor a loved one, either living or passed. The fund preserves an everlasting record of the names of individuals or families who have been honored with a commemorative gift. For those who use this means of remembering and upon receipt of a charitable contribution, the Foundation promptly acknowledges each gift and verification is sent to the donor for tax records, as all gifts are tax-deductible. A separate card is also sent to the family of the person or family memorialized or honored, informing them that a gift has been received.
Planned / Deferred Gifts
The Foundation can be named as a beneficiary in a will or contingent beneficiary, to take effect only if there are no surviving close family members.
- *Gifts of home, farm or ranch: Gifts in this category allow a donor to deed the property to the Foundation while retaining the right to live on the property, or allowing surviving family members to have life occupancy if desired. Charitable tax deductions are allowed, as are estate tax benefits.
- * Life Insurance and Annuities: By irrevocably naming the Foundation as the owner and beneficiary of an existing policy, donors may deduct nearly the full cash value of the policy at the time the assignment is made. New policies may also be purchased naming the Foundation as owner and beneficiary. The cost of those policies is deductible.
- *Bank Account in Trust: Bank accounts in trust for the Foundation may be opened. Donors maintain the right to add or withdraw from the account or close the account at any time. Any funds remaining in the account upon death automatically defer to the Foundation and are not subject to federal estate tax.
Arrangements regarding Deferred Giving Agreements should be coordinated with an attorney, accountant or trust officer.