Bequests—An Excellent Way to Leave Your Mark on the Things You Love

Throughout our 100-year history, gifts from members of our Princeton Community have helped us establish and maintain the highest standard of quality healthcare for our community. This past year, the generosity of our valued supporters, such as Dorothy Hanle, Muriel Palmer and Mosie Gates, has helped secure this level of care for years to come by giving through their estate plans. Even in their passing, their commitment to care persists. Their visionary foresight has helped us prepare for obstacles, anticipate patient needs and adapt quickly to emergent health crises like COVID-19. We'd like to take a moment to celebrate the contributions of these generous supporters and share how their support continues to impact the mission of our organization.

In 2011, during our Design for Healing campaign to build the new Princeton Medical Center (PMC), Dorothy Hanle, a philanthropist and active elder of her church, made a donation to support building the new hospital campus and named the Hanle Welcome Garden in memory of her late husband, Alan. The garden is situated at the east entrance of PMC and consists of a water feature, highlighted by a bronze sculpture, "Moment" by famed sculptor and PMC supporter Gordon Gund. Dorothy had made plans to include Princeton Health in her will.

Muriel Palmer was an area resident and longtime loyal donor to Princeton Health. She loved life, beauty and the natural world. When she passed away in 2019, Muriel included PMPH in her will and made a leadership bequest donation to our President's Strategic Initiative.

Moore "Mosie" Gates also passed away in 2019, leaving behind his wife, Audrey, a longtime resident of Princeton and volunteer of the Medical Center. Mosie had previously served on the PMC Board of Trustees as well as the PMC Foundation Board of Directors. He included Princeton Medical Center Foundation in his estate plan as a symbol of his commitment to our future.

David I. Scott, M.D., and his wife, Gail Shapiro-Scott, were steadfast supporters of Princeton Health and both had close connections to PMC. Prior to his death in 2014, Dr. Scott was an anesthesiologist with Princeton Anesthesia Services. Mrs. Shapiro-Scott logged more than 1,400 hours of service with our Department of Volunteer Services. Upon Mrs. Shapiro-Scott's passing earlier this year, Princeton Health received a very generous gift from their estate.

We are honored and grateful for the support of visionaries like Dorothy, Muriel, Mosie, David and Gail. They have provided for the future generations of our community by including Princeton Medical Center Foundation in their estate plans. If you would like to learn more about Creating Your Legacy with us and becoming a member of the 1919 Society, please contact Danielle Oviedo at 609.252.8709 or danielle.oviedo@pennmedicine.upenn.edu.

Members of the 1919 Society are considered an integral part of our family and future.

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A charitable bequest is one or two sentences in your will or living trust that leave to Princeton Medical Center Foundation 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 plan

"I hereby give, devise and bequeath to the Trustees of Princeton Healthcare System Foundation, a nonprofit corporation organized and operating under the laws of the State of New Jersey and located in Plainsboro, New Jersey, the sum of $____________ [or percentage of your estate or a specific description of the gift] to be used by Princeton Medicine [describe the purpose of gift her, if desired]."

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 Princeton Medical Center 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 Princeton Medical Center 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 Princeton Medical Center 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 Princeton Medical Center where you agree to make a gift to Princeton Medical Center 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.
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