Billings Clinic
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Named Endowment

A named endowment is created by a gift to Billings Clinic Foundation and is permanently invested to produce annual allocations for projects designated by donors. The principal funds in our endowments are never spent. Only the interest and appreciation earned in our endowment are used for current programs and services, ensuring that the endowment funds are in place forever, helping us meet long-term health care needs in our community and region.

This special planned giving tool is “named” for either the donors themselves, relatives, or other special friends. In a simple written agreement with the Billings Clinic Foundation, the donor(s) may specify where they would like their endowment earnings allocated. The Named Endowment program is one of the most popular and fastest growing giving programs within the Billings Clinic Foundation.

  Giving Options to Establish a Named Endowment

Direct Gifts

Direct gifts of cash or other property with a value of $10,000 or more can be used to create a named endowment. Lesser amounts are generally accepted and will be fully endowed, providing the donor intends to attain the $10,000 level within five years. Examples of property gifts include appreciated stocks, bonds, commercial or residential property and farmland.

Deferred Giving

Gifts to establish named endowments can also be arranged through a variety of “deferred” giving methods. Even though funding is deferred until sometime in the future, all necessary agreements are prepared today, in exact accordance with the donors’ wishes. Deferred gifts include charitable life income arrangements, will provisions, life estates and life insurance.

Named endowments are frequently funded with the “remainder” of income arrangements such as a charitable remainder unitrust. When the income obligation to the donors or other designated beneficiaries has ended, the remaining balance can be designated to fund an endowment.

Life estate arrangements offer benefits similar to bequests from a will; plus, donors are able to enjoy tax advantages during their lifetimes. This unique estate planning method applies to gifts of a residence, farm, or ranch and as with other deferred arrangements, can be used to fund a named endowment.

Life insurance can be an economical way to fund a named endowment within the Billings Clinic Foundation. For example: Donors may contribute paid-up life insurance policies for which they no longer have use, most often because family needs and priorities have changed.

For more information contact: Amberlea Pahut, Senior Development Director at apahut@billingsclinic.org

Back to Planned Giving Main Page

 

Montana Endowment Tax Credit
The Montana Endowment Tax Credit offers incentives for Montanans who make a planned gift to endowed funds. 
Learn more.

Location
Billings Clinic Foundation
P.O. Box 31031
2917 10th Avenue North
Billings, Montana 59107-1031
Contact
Email us or call 406-657-4670
1-800-332-7156

The Foundation manages over 70 funds to support Billings Clinic and health care initiatives throughout our community.
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