Article featured in Fall 2010 Donor Report
Throughout their 62 years of marriage, Bob and Betty Waltz have raised a family, built several successful businesses, volunteered throughout the community, traveled extensively and welcomed two grandchildren and four great grandchildren. During their full life together, however, there were also some rough spots, during which the couple learned the value of quality healthcare—insight that has led them to take a leadership role over the years in making sure our local hospital is the best that it can be.
In 1977 at the age of 51, Bob had his first heart attack. His recovery was slow and incomplete, prompting the family to consult with a cardiologist from Johns Hopkins. "He told me I was a candidate for bypass surgery," Bob recalls. "Bypass was very new at the time, but I went over to Hopkins and got it done."
Sixteen years later, another heart attack sent him to Washington Hospital Center—this time for a series of antioplasties—and eventually another bypass.. Home in Frederick again, Bob decided to participate in his recovery and make some lifestyle changes to manage his risk factors better.
With 17 years since his last heart attack, Bob is feeling good and staying active. But given his 30-year history with heart disease, the Waltzes have understandably followed the emergence of the Interventional Cardiology service line at FMH, including the recent opening of a state-of-the-art Interventional Cardiology and Elecrophysiology Suite with two cardiac catheterization labs.
Longtime supporters of FMH through the Order of the Good Samaritan, the Waltzes recently stepped forward to make a signature gift to the hospital's Transforming Healthcare in Our Community campaign. In addition, the couple has also served on the FMH Development Council's Special Gifts committee, helping to garner support throughout the community for the hospital's many expansion and renovation projects.
"Over the years, we have been extremely impressed by Frederick Memorial Hospital's commitment to stay at the forefront of healthcare. FMH has come such a long way to become the high quality institution it is today. When a hospital makes that kind of commitment to the community, we feel it's important for the community to match that commitment with its support."
"It's important for any organization to be committed to moving forward and getting better," says Bob. At FMH, the leadership understands that. They never stopped moving forward. They are continually improving, constantly finding the resources to keep up with the latest in healthcare treatment and services. They just keep getting better and better, and all of us in the Frederick community are better off because of it."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to Frederick Memorial Hospital a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.
an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement planBequest Language
"I, [name], of [city, state, ZIP], give, devise and bequeath to Frederick Regional Health System [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
able to be changed or cancelled
A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.
cannot be changed or cancelled
tax on gifts generally paid by the person making the gift rather than the recipient
the original value of an asset, such as stock, before its appreciation or depreciation
the growth in value of an asset like stock or real estate since the original purchase
the price a willing buyer and willing seller can agree on
The person receiving the gift annuity payments.
the part of an estate left after debts, taxes and specific bequests have been paid
a written and properly witnessed legal change to a will
the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will
A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to FMH or other charities. You cannot direct the gifts.
An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.
Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.
Securities, real estate or any other property having a fair market value greater than its original purchase price.
Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to FMH as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to FMH as a lump sum.
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
A charitable gift annuity involves a simple contract between you and FMH where you agree to make a gift to FMH and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.