Legacy gifts are deferred contributions you can make by naming the Old Naval Hospital Foundation as a beneficiary through your will, retirement plan, IRA, life insurance policy, or bank or brokerage account. They offer attractive tax benefits, particularly when you choose to fund your gift with appreciated securities to reduce or eliminate capital gains tax. Most important, legacy gifts are added to ONHF’s endowment, to help safeguard the future of Hill Center by ensuring that the landmark Old Naval Hospital campus will endure as a prime example of 19th century public architecture for generations to come.
Please consider including the Old Naval Hospital Foundation in your charitable gift planning. Your plan/policy administrator or attorney will need the following information to designate ONHF as a beneficiary:
|Legal name:||Old Naval Hospital Foundation (dba Hill Center)|
|Date of incorporation:||November 1, 2002|
|Address:||921 Pennsylvania Avenue SE, Washington, DC, 20003|
Include ONHF in Your Will
Everyone should have a will. In the same way that you have authority over what to do with your property during your lifetime, you can take responsibility for what happens after your death. Or you can let the state decide. You can use the following language in your will to designate the Old Naval Hospital Foundation as a beneficiary:
I hereby give ______ (a dollar amount, or all or a percentage of the rest, residue, and remainder of my estate) to the Old Naval Hospital Foundation, 921 Pennsylvania Avenue SE, Washington, DC, for (the Hill Center Preservation Trust/Endowment Fund or for general purposes, to be used in such a manner as the Board of Directors of the Old Naval Hospital Foundation shall determine).
- Your assets remain in your control during your lifetime
- You can modify your bequest if your circumstances change
- Whatever form of bequest you choose, it is not subject to federal estate or inheritance taxes, reducing the burden on your estate
- There is no limit on estate tax deductions taken for charitable bequests
Name ONHF as a Beneficiary Other Than Through a Will
Naming ONHF as a beneficiary of your retirement plan, IRA, life insurance policy, or bank or brokerage account is a generous way to make a legacy gift “outside” a will.
These gifts are easy to implement, and giving retirement funds is a tax-wise strategy for many donors. Contact your plan or policy administrator for a change of beneficiary form for retirement and life insurance accounts. For bank or brokerage accounts, you will need to complete the appropriate form.
Contact Hill Center
For additional information about legacy gifts – or to let us know that you have already included the Old Naval Hospital Foundation in your charitable gift planning – please contact: