Naming WellSpan Philhaven as a beneficiary in your retirement plan — such as a 401(k), 403(b), IRA, Keogh, profit-sharing pension plan or donor-advised fund — offers a dual advantage: you fulfill your charitable giving goals while potentially reducing your tax burden. This designation takes precedence over your will. By allocating retirement assets to charity and other assets to family, you can streamline your estate planning process.

Follow these simple steps:

• Request a “change of beneficiary” form from your plan administrator.
• List WellSpan Philhaven as the beneficiary at:
  WellSpan Philhaven
  283 S. Butler Road
  P.O. Box 550
  Mt. Gretna, PA 17064
  EIN #: 23-1548822
• Let us know so we can thank you!

Life-income gifts offer steady income for life or a specified period with the remainder supporting our mission. With Charitable Gift Annuities (CGA), you can donate assets now and get fixed payments for life, plus potential tax benefits. CGAs are flexible, suiting various life stages and financial goals, and you can decide when you receive payments.

• Immediate Gift Annuity: Make your gift, take a deduction and begin receiving annuity payments right away. This option is available for donors 60 or older.
• Deferred Gift Annuity: Take an immediate deduction and defer payments for retirement. This option is beneficial for younger donors. Deferment allows for larger and less taxed payments.
• Flexible Gift Annuity: This is like a deferred gift annuity with a donor-directed option to delay the payments. The longer you wait to receive payments, the higher the payout rate and the larger your income payments will be.

Donating appreciated stocks, bonds or mutual fund shares instead of cash provides double the benefits. By giving these assets to WellSpan Philhaven, you receive a charitable tax deduction at full market value and avoid paying the capital gains tax that would apply if you sold the assets and donated cash.

To transfer your shares to WellSpan Philhaven, please provide the following information in your broker request:

WellSpan Philhaven
283 S. Butler Road
P.O. Box 550
Mt. Gretna, PA 17064
EIN: 23-1548822

Broker: Northern Trust
Broker Account Manager: Samantha Damlar
Broker Phone: 480-887-9122
Broker Fax: 312-557-2673
Broker Email: SML14@ntrs.com
DTC Number: 2669
Agent Bank Number: 20290
FBO Account Number: 26-60352
Tax ID Number: 23-1548822

Don’t forget to notify us of your gift so we can credit it appropriately. Please contact us at 717-270-2402 or bbame@wellspan.org.

If you’re 70½ or older, you can donate directly to WellSpan Philhaven from your IRA. Doing so allows you to avoid income tax on the donated portion of your required minimum distribution and support WellSpan Philhaven with assets that would be taxed in your estate.

To qualify:

• You must be age 70½ or older.
• Transfers must be made directly from a traditional IRA account by your IRA advisor to WellSpan Philhaven. Funds withdrawn by you and then contributed do NOT qualify. Gifts from certain retirement plans, like 401(k) or 403(b), also do not qualify.
• Gifts must be outright; distributions to donor-advised funds or life-income arrangements do not qualify.

Benefits of qualified charitable distributions:

• Donation limit as of 2024 has increased to $105,000; you can also use up to $53,000 for a one-time donation to a charitable remainder trust or charitable gift annuity.
• Are not included in your gross income for federal income tax purposes; no charitable deduction is available.
• Count toward your required minimum distribution for the year from your IRA.

Sample Instruction Letter from Donor to IRA Provider:

[Insert Date]
[Insert IRA Provider Name]
[Insert Address]
[Insert City, State, Zip]

Re: Request for Qualified Charitable Distribution from Individual Retirement Account

Dear Sir or Madam,

Please accept this letter as my request for a qualified charitable contribution from my Individual Retirement Account, pursuant to Sec. 1201 of the Pension Protection Act of 2006 and Sec. 408(d)(8) of the Internal Revenue Code of 1986, as made permanent under the Consolidated Appropriations Act of 2016. My account number is [insert account number].

Please issue a check in the amount of [insert dollar amount] payable to WellSpan Philhaven at the following address:

WellSpan Philhaven
283 S. Butler Road
P.O. Box 550
Mt. Gretna, PA 17064

In your transmittal to the WellSpan Philhaven, please state my name and address as the donor of record and copy me on your transmittal. I intend for this transfer to qualify during the [insert tax year] tax year; thus, it must be postmarked no later than December 31, [insert year].

For any questions or concerns, please contact me at [insert phone number] or [insert email address].

Thank you for your prompt assistance.

Sincerely,
[Insert signature of IRA Owner]

Consider donating your real estate to WellSpan Philhaven for an immediate impact now and a reduction in your estate taxes later. You can deduct the fair market value of your property from appreciated assets such as real estate, artwork and curated collections. You simply deed your property to WellSpan Philhaven, and we sell the property and retain the proceeds. This is a great way to make a future gift without affecting your current lifestyle.

The benefits of donating real estate include:

• Immediate charitable deduction for fair market value, potentially avoiding capital gains taxes.
• Lifetime income with an immediate tax deduction, leaving remaining assets to the Development Office after death.
• Income for a defined period, then passed to heirs with estate and gift tax savings.
• Significant immediate tax deduction, property use for life and transfer to the Development Office upon death.
• Reduced gift cost due to savings on income and capital gains taxes.

When planning your real estate gift, consider these tips:

• Gift entire or partial property interests.
• The Development Office conducts due diligence on mortgages, liens, hazardous substances and marketability.
• Mortgage-free properties yield greater tax benefits.
• Obtain appraisal from a qualified appraiser to meet IRS requirements.
• Tax savings vary based on gift type and individual circumstances.
• Due to complexities and legal restrictions, contact the Development Office early in decision-making.