Support the Important Causes in Your Life

Harness the Giving Power of a Private Foundation

Support What Matters

Learn more about donor advised funds. View and download the FREE guide One-Stop Giving: The Convenience and Simplicity of Donor Advised Funds.

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A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Butler Hospital and other charities.

You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend-but not direct-how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.

In return, you receive an immediate federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.

An Example of How It Works

Happy family Joe and Laura want to give back to their hometown by putting their money where it will do the most good. They establish a $25,000 donor advised fund with a community foundation.

The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support.

After researching community needs with the foundation’s staff, Joe and Laura recommend grants for Butler Hospital (which they've supported for years) and the Animal Rescue League. The foundation presents the charities with checks from the Megan Fund, which Joe and Laura named in honor of their granddaughter. Joe and Laura are delighted to start this personal legacy of giving.

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Next Steps

  1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
  2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
  3. Contact Sara Masri at (401) 921-8514 or smasri@carene.org to discuss using donor advised funds to support Butler Hospital and our mission.
  4. Seek the advice of your financial or legal advisor.
  5. If you include Butler Hospital in your plans, please use our legal name and federal tax ID.

Legal Name: Butler Hospital Foundation
Address: Providence, RI
Federal Tax ID Number: Please contact us for our federal tax ID number.

A charitable bequest is one or two sentences in your will or living trust that leave to Butler 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 plan

"I give to Butler Hospital in Providence, Rhode Island, a nonbusiness corporation at 345 Blackstone Blvd, [written amount or percentage of the estate or description of property], to be applied in its discretion for its general uses and purposes."

If you would like to restrict the gift to a particular purpose, please contact the Philanthropy Department to discuss appropriate language. In any case, the language for a restricted gift should include the following sentence:

"If it shall at any time be impractical to apply this gift as I have directed, Butler Hospital shall have the discretion to apply this gift to other needs which conform as closely as possible to my intent."

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 Butler Hospital 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 gift 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 receive an immediate federal income tax charitable deduction. 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 Butler Hospital as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 Butler Hospital 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 Butler Hospital where you agree to make a gift to Butler Hospital 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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