Paul & Mary Jane Chevis gifted $800,000 to St. Joseph Health System to establish a permanant endowment fund leaving a lasting legacy of their love and support for our community's health care needs.
60 Lakes Association establishes
St. Joseph Hospice Endowment Fund
Members of the 60 Lakes Association are shown signing a fund agreement to establish the new St. Joseph Hospice Endowment Fund with a $10,000 gift recently given to the Foundation.
Floyd H. Pierson of
East Tawas gifted
St. Joseph Health
System nearly
$13,000 through
a planned gift from
his Will. His generosity will support the Endowment Fund as well as annual patient care needs.
Marion E. Lilly, lifelong resident of Harrisville, MI named Tawas St. Joseph Hospital as a beneficiary in her estate gifting more than $15,000 to support healthcare scholarships, equipment needs and the Endowment Fund.
Planned Giving is the gifting of assets during your lifetime or through your Will upon death. It is an organized approach to giving that evaluates your personal values, selects charitable organizations that best match those values and personal interests and then maximizes the financial and tax benefits of the gifts.
Charitable giving does not require great wealth, but rather a sincere generosity of spirit that in turn benefits others. The key to wise giving is being informed about a charitable organization and finding ways that your gifts can be most effective for you, your family and your community.
Gifts may be designated to a specific project or shared as an endowed gift and managed in a prudent manner to maximize rate of return on investments, continuous growth on endowed principal and a practical degree of security and stability to meet the current needs of SJHS while preserving the real spending power of the long-term endowment for future needs.
An endowment is a permanent, self-sustaining source of funding. The gifts are permanently invested with 5% of the fund balance given each year in support of St. Joseph’s capital projects. The balance remains invested to build the fund's market value with the goal of increasing the annual gifts to the health system. In this way, an endowment fund will grow and provide support for its designated purpose.
For more than 200 years, Americans have been donating a share of their financial resources to make life better for others. Today, individuals contribute more than $250 billion each year. The most popular type of a planned gift is a general bequest through your will, as done by Paul and Mary Jane Chevis (see related Chevis story). Bequests are an excellent way for you to provide lasting support to St. Joseph Health System. Other planned giving options include gifts of stock, annuities, charitable remainder trusts and life insurance gifts.
Endowed Gift |
|||||
|
Year 1 |
Year 5 |
Year 10 |
Year 15 |
Year 20 |
Value of $10,000 Endowed Gift |
$ 10,000 |
13,605 |
19,990 |
29,372 |
43,157 |
Value of $50,000 Endowed Gift |
$ 50,000 |
68,024 |
99,950 |
146,860 |
215,785 |
Value of $800,000 M.J. Chevis Trust |
$ 800,000 |
1,088,391 |
1,599,204 |
2,349,755 |
3,452,561 |
To learn more about enriching life with local giving, please contact the Foundation at info@sjhsysfoundation.org or call 989-362-0113.