Planned Giving

As the Baby Boomer generation ages, the needs of our aging population are increasing as government support for those services declines. Planned giving is an opportunity to leave a legacy to secure a tradition of compassionate care and premier services for our loved ones as they age.

Every gift of any size helps us to remain the best provider of lifestyle and healthcare services to everyone we serve!  

Some Planned Gifts are meant to be paid during the donor’s lifetime, and some are left to us in the donor’s estate.  We encourage you to work out the technical and tax details with your lawyer, accountant, or financial planner. You can determine how your planned gifts and permanent funds will be used – today or far in the future.

• Many donors create special-purpose Donor Funds that are restricted to programs or services that are meaningful to them.  
• Named Donor funds require a minimum gift of $10,000 which can be paid over time.  
• Many donors simply designate a gift of any size to one of our endowment areas (e.g. hospice, nursing, rehab, perpetual annual campaign, campus residences, activities, spiritual life).

Contact the planned giving team for any questions you may have regarding your options. Call Lynn Bercu Krumholz at 216-896-1104 or Jane Furth 216-839-6688.

Some easy Planned Gifts you can arrange yourself:

• A pledge that is payable-on-death – This requires no change to your will, and no estate planning.  It is simply a bill that comes due when your estate is being settled.  During your lifetime, you can revoke the pledge at any time.  Click here for a pledge form.
  
  
• Naming Menorah Park as a beneficiary of any financial asset – Perhaps of a bank account, an insurance policy, an Individual Retirement Account, or an existing charitable instrument like a donor advised fund or a private foundation.  Again, this requires no change to your will, and no estate planning.  (Gifts paid directly from your IRA provide the greatest tax savings, both during your life and upon your death. Talk to us or to your IRA manager for details.)
  
  
• Charitable Gift Annuities - Pay you or a designated beneficiary annual guaranteed lifetime income, at rates based on your age when the annuity is purchased.  The residual is left to Menorah Park as a charitable gift.  You have tax advantages at the time of purchase as well as generally better returns than traditional investments, since a portion of the principal is returned to you each year. Call Lynn Krumholz 216-896-1108 for rates or an illustration that will show you your payments, your tax savings and the lifetime value of your CGA.
  
  
• Gifting appreciated securities - You pay no capital gains tax, but the appreciated value goes to work to support whatever you wish at Menorah Park.  Don’t sell your stock – transfer it to Menorah Park’s account.  Click here for a PDF of transfer instructions that you can give your broker.  Be sure to alert us ahead of time – often the brokerage check comes with no instructions or the donor’s name.
  
  
• LIFE & LEGACY - As part of the local consortium of Jewish agencies and synagogues, Menorah Park is a partner in the LIFE & LEGACY® program sponsored by the Jewish Federation of Cleveland and the Harold Grinspoon Foundation. As a part of this effort, once we obtain a certain number of new planned gifts, we are eligible for a matching grant from the Harold Grinspoon Foundation. More importantly, we will help Secure the Future for Menorah Park. 

LIFE & LEGACY LETTER OF INTENT

Some Planned Gifts that your advisor can help arrange:

• A bequest is a promise in your will to give a percentage or specific dollar amount from your estate to Menorah Park.  The vast majority of Planned Gifts are bequests!  If desired, you can share this sample bequest language with your lawyer.
  
  
• For large gifts, Charitable Remainder Trusts or Charitable Lead Trusts may benefit you due to tax advantages during your lifetime and in your estate.  Ask your advisors if these vehicles would be helpful in your planning.

Sample Bequest Language

A bequest is a gift left to the Menorah Park Foundation that comes from the general value of your estate, and is made by designating a specific dollar amount or a percentage of your estate to the Foundation.  Sample bequest language follows:

“I give, devise, and bequeath to the Menorah Park Foundation, 27100 Cedar Road, Beachwood,Ohio 44122 (Federal ID# 34-1778478) the sum of $_______ (or a percentage of your estate) to be added to a permanent endowment fund held by Menorah Park Foundation for the benefit and support of Menorah Park   (if desired, add a specific purpose for your funds).