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Ellen Powell

Ellen Powell

Like many of Le Bonheur's most generous donors, Ellen Powell's dedication to the hospital and its mission began and blossomed as a result of her volunteer work at Le Bonheur.

After growing up on a farm in nearby Arkansas, Ellen moved to Memphis and became an active member of the Le Bonheur Club, joining soon after the organization was founded in the early 1920s. Through the years, Ellen's volunteer work included sewing gowns for Le Bonheur patients and surgical masks and sheets for the operating room; working in the gift shop; and operating the hospital's elevator. Long-time Le Bonheur Club member Gloria Andereck remembers Ellen as a very active member who hosted Le Bonheur Club meetings in her home.

Betty Barker, a niece who lived with Ellen Powell's family while attending a private school in Memphis, said, "Aunt Ellen was a very interesting person, and she just loved Le Bonheur."

When Ellen Powell died in 1988, just shy of her 90th birthday, both Le Bonheur Children's Medical Center and her niece, Betty Barker, were beneficiaries of her charitable remainder trust. Betty was the income beneficiary, and Le Bonheur was the remainder beneficiary. The Le Bonheur Gift Shop in the new hospital will be named in honor of Ellen Powell.

"I'm very proud that her gift will help children who might not have another chance. It's great to have Le Bonheur in Memphis and not have to send children somewhere else for care."

Ellen Powell's charitable remainder trust was all about families—the donor's family and the families of Le Bonheur
When Ellen Powell established a charitable remainder trust in her will, she not only provided annual income for her niece, she also provided funds for Le Bonheur to continue serving children beyond her lifetime.

A charitable remainder trust enables you to transfer cash, securities, or other property to the trust, either during your lifetime or in your will. You should receive a tax deduction, and your trust will pay income for your beneficiary's life or for a fixed term of not more than 20 years. When your trust ends, its remaining funds will pass to Le Bonheur.

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A charitable bequest is one or two sentences in your will or living trust that leave to Le Bonheur Children's 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 Le Bonheur Children's Hospital, a nonprofit corporation currently located at 850 Poplar Avenue, Memphis, TN 38105, or its successor thereto, ______________* [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 Le Bonheur Children's 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 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 Le Bonheur Children's Hospital 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 Le Bonheur Children's 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 Le Bonheur Children's Hospital where you agree to make a gift to Le Bonheur Children's 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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