Foundation News Archives
Act now for our highest Charitable Gift Annuity rates
Payout rates for Charitable Gift Annuities (as determined by the American Council on Gift Annuities) will fall July 1st. There is still time to lock in the current rates in order to maximize the income you will receive for life.
A gift annuity with the Virginia Hospital Center Foundation is easily funded with a gift of cash or appreciated securities and will guarantee income for life for one or two people. Payout rates on gift annuities are often higher than rates on CDs and other fixed-income investments. The tax benefits of a gift annuity are two-fold: you will receive a charitable income-tax deduction while a portion of your income is tax-free. And you can enjoy additional tax savings when you fund an annuity with appreciated securities.
With a Virginia Hospital Center Foundation Gift Annuity, it is possible to both give and receive. A gift annuity with the Virginia Hospital Center Foundation helps to secure Virginia Hospital Center's future. Funding will be wisely invested in improving quality of care, upgrading technology, and fulfilling the healthcare needs of our community.
Annuities are available for as little as $10,000. Rates are scheduled to fall on July 1st so lock in your rate now.
An example of a $25,000 Charitable Gift Annuity:
| Age |
Rate* |
Annual Income |
Tax Deduction |
| 65 |
6.0% |
$1,500 |
$6,529.50 |
| 70 |
6.5% |
$1,625 |
$7,991.25 |
| 75 |
7.1% |
$1,775 |
$9,626.00 |
| 80 |
8.0% |
$2,000 |
$11,174.00 |
| 85 |
9.5% |
$2,375 |
$12,328.25 |
*Rates are available through June 30, 2008.
Please contact us today for more information: Amy Hauser at 703.717.4436
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Gifts from your IRA have multiple benefits
Recognizing the important role of philanthropy in solving problems and enriching communities, Congress recently restored and extended an important law that rewards taxpayers for donations to charitable organizations. The Emergency Economic Stabilization Act of 2008 permits taxpayers at the age of 70½ and older to satisfy minimum distribution requirements by making direct, tax-free charitable gifts totaling up to $100,000 per year from traditional Individual Retirement Accounts (IRA) and Roth IRAs during 2008 and 2009.
Taxpayers at the age of 70½ and older are required to take annual distributions from their retirement accounts. The distributions are included in the taxpayers' adjusted gross income (AGI), and taxpayers pay taxes on them. The Charitable IRA Rollover permits taxpayers to satisfy their minimum distribution requirements by making donations directly to charitable organizations from their IRAs without counting them as part of their AGI and, consequently, without paying taxes on them.
Who Benefits from the IRA Rollover?
- Taxpayers who do not itemize their deductions.
- Itemizing taxpayers who have reached the charitable giving limit.
- Taxpayers whose tax deductions decrease as their income increases.
- Taxpayers who do not immediately need the income from required distributions.
To learn more about how you can support Virginia Hospital Center Foundation while reducing your taxable income (including planned gifts), please contact Steve Rubloff at 703.558.5562 or at srubloff@virginiahospitalcenter.com.
Renovation Campaign Launched for John T. Hazel, MD Conference Center
More than 25 years ago, community support built the John T. Hazel, MD Conference Center on the Virginia Hospital Center campus. After two decades of daily use for medical education, health programming and community meetings, the Hazel Conference Center's auditorium, conference rooms, foyer and restrooms need to be renovated and upgraded. Virginia Hospital Center Foundation is embarking upon a $500,000 fundraising campaign to fund the top-to-bottom makeover of the Center. The Hazel family has generously contributed $150,000 towards the project. This renovation will turn the Hazel Conference Center into a state-of-the-art medical and community education facility with construction scheduled to begin in early 2009.
To support the John T. Hazel, MD Conference Center Renovation, please complete the on-line contribution form. You may also send your gift directly to the Virginia Hospital Center Foundation at 1701 N. George Mason Drive, Arlington, VA 22205. For more detailed information on the campaign and the planned renovation, please contact Steve Rubloff at 703.558.5562 or at SRubloff@virginiahospitalcenter.com.
Contributions in support of the Hazel Center Campaign are tax-deductible. Donors of $1,000 or more will be recognized on an auditorium seat plaque. Donors of $5,000 or more will be recognized on a commemorative display in the John T. Hazel, MD Conference Center lobby.
Cornerstone Newletter
Virginia Hospital Center Foundation's newsletter, Cornerstone, is dedicated to sharing our tradition of philanthropy at Virginia Hospital Center. In January, 2007, Virginia Hospital Center reestablished its own foundation, committed to building and growing its relationship with the community and inspiring charitable giving in support of the Hospital. Click here to download a copy.
Bequest from Geraldine and Milton Beall to support Cardiology and Oncology
The Virginia Hospital Center Foundation has received a bequest of $412,000 from the estate of Geraldine and Milton Beall to support inpatient cardiology and outpatient oncology. Mr. & Mrs. Beall were long time Arlington residents who choose to remember the Hospital in their wills in recognition of the quality care they received.
For more information on the tax benefits of providing a bequest provision in your will, please contact Amy Hauser at 703.717.4436 or AHauser@virginiahospitalcenter.com.
Cancer Resource Library renamed in memory of Barbra Marcus Kolton
A graduate of Duke University and Georgetown Law, Barbra Marcus Kolton had a bright future. But in 2000, while pregnant, she was diagnosed with metastatic breast cancer at the age of 30. In a tragic turn of events, she lost the baby and then her own battle with the disease.
Following her death, contributions to a memorial fund established in her name rose to such a substantial level that the Hospital renamed what is now known as the Barbra Marcus Kolton Cancer Resource Library. Memorial funds will be used to maintain and expand the library's collection of materials and resources that are available to patients, family members and others who are seeking information about cancer diagnosis and treatment.
For more information on the Barbra Marcus Kolton Cancer Resource Library, please call 703.558.6130. To make a contribution to the Barbra Marcus Kolton, please click here.
Auxiliary endows nursing fund
Through the years, the Virginia Hospital Center Auxiliary has been one of the most generous supporters of the Hospital. That spirit of philanthropy continues with the Auxiliary's recent pledge to endow the Catherine Byrne Memorial Nursing Fund in memory of long time Auxiliary member Cay Byrne. This special fund will help Virginia Hospital Center directly address the challenge of maintaining the highest quality nursing staff through support of scholarships, awards for clinical excellence and stipends for professional development. The Fund will honor the dedication and commitment of Cay Byrne to Virginia Hospital Center and its patients.
For more information on the Catherine Byrne Memorial Nursing Fund please contact the Foundation at 703.717.4438 or Foundation@virginiahospitalcenter.com. To make a contribution on-line, please click here.
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The Virginia Hospital Center Foundation has been designated by the Internal Revenue Service as a 501(c)(3), charitable, non-profit organization. Contributions to the Foundation are tax-deductible to the extent allowed by law.
Please direct questions and comments to
foundation@virginiahospitalcenter.com or 703.717.GIFT (4438)