Skip to Content

Ways to Help

Physician Gets Creative With Contribution

Herman

Dr. Martin Herman

When Dr. Martin Herman arrived at Le Bonheur Children's in 1994, he enrolled in the hospital's retirement plan where his contributions were matched by Le Bonheur. Later, when Le Bonheur became part of Methodist Healthcare, Herman rolled his retirement funds into an IRA where they have remained until now.

As Le Bonheur embarked on the campaign to build a new hospital, Herman and his wife, Lynette, talked about how they could make a gift to the new hospital through the Physicians' Campaign. It was then they remembered the untouched fund that Herman had participated in 13 years earlier. Both agreed it was a great idea to donate the funds they had invested at Le Bonheur. "Part of the funds were matched by Le Bonheur so we wanted to give it back, Herman says.

The Hermans recently cashed in the plan to make a signifi cant gift to the new hospital.

"It's a privilege to serve the children of this community," Herman says. "The reason we decided to make this gift was because physicians should support Le Bonheur. Le Bonheur is home for us. We spend 50 percent of our life here and the children of Memphis deserve the best care possible."

One late-summer day, Herman, who is a pediatric emergency specialist in Le Bonheur's Emergency Department (ED), cared for a mother and child who were both sick and in need of medical care. Treating a parent and child together is not typical of the cases that the ED sees daily. They treat 70,000 children each year, which makes Le Bonheur one of the busiest pediatric EDs in the U.S.

"Le Bonheur's the only game in town," Herman says. "People in the community are not aware that there is only one comprehensive children's hospital in this area. Le Bonheur is the only place in this region to take care of all children. There's no other children's hospital for 150 miles or more in any direction. If Le Bonheur went away, so would a lot of children's health care in this area. There is no place else to take up the baton."

Married for 26 years, the Hermans have fi ve adult children between them. Herman worked as a mechanic to pay for his undergraduate college degree. While enrolled in pharmacy school at the University of Maryland, he sold encyclopedias doorto- door. When he attended medical school at the University of Maryland, he worked as a pharmacist at Johns Hopkins. His internship at the University of Maryland was followed by residency at Sinai Hospital of Baltimore. He worked three years for the National Health Services Corp. providing care in rural Mississippi before opening his own practice.

Herman believes that in life you must give back. "I give to Le Bonheur every day but I also take a lot from this place," he says. "There is nothing in the world like working with a child who starts out crying and fearful and in the end is hugging you and gives you a great big smile. There's not enough money in the world to replace that feeling."

eBrochure Request Form

Please provide the following information to view the brochure.

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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.