Love at First Sight

Florida residents Jim and Gail Moon were interested in giving back. As they researched options, a friend mentioned Le Bonheur Children’s Hospital. The Moons were not familiar with the Memphis, Tenn. hospital.

Intrigued, they contacted Le Bonheur to set up a tour to learn more.

For the Moons, it was love at first sight—the tour was one that they would not soon forget.

“From the moment we walked through the doors, Le Bonheur touched our hearts,” Gail said. “The hospital is so well run and it is evident how much everyone cares about the patients and one another.”

Gail and Jim spoke with doctors and nurses, and learned about the treatments and expert care offered at Le Bonheur. During their tour, they were especially touched by the Neonatal Intensive Care Unit.

After their visit, the Moons decided to include Le Bonheur in their estate plan so that they could support Le Bonheur’s mission.

The Moons chose to leave a percentage of their retirement assets to Le Bonheur. Since Le Bonheur is a non-profit, it will receive the full benefit of this gift and taxes will not be paid on the funds as they would if left to a non-charitable beneficiary like a child or grandchild.

In addition to their planned gift, the Moons have also made current gifts from their Individual Retirement Account (“IRA”), making Le Bonheur their charity of choice. Donors like the Moons who are 70½ years and older and have an IRA are able to donate all or a portion of their Required Minimum Distribution (RMD) from their IRA up to $100,000 each year to a qualified charity like Le Bonheur. This gift is sometimes called a Qualified Charitable Distribution or IRA Rollover.

The donor pays no income taxes on the distribution and the transfer generates neither taxable income nor a tax deduction, so there is a benefit even if the donor does not itemize their deductions. Further, since the gift doesn’t count as income, it can reduce the donor’s annual income level. This may help lower Medicare premiums and decrease the amount of Social Security that is subject to tax.

“We are blessed that our children and grandchildren have never needed to be in the hospital,” Jim said. “At Le Bonheur, we saw an opportunity to give back and help kids that are in need.”

If you would like information about how you can support Le Bonheur Children’s Hospital through a gift from your retirement assets, please contact Cathy Wilson, J.D., CFRE, CAP® at 901-287-5575 or catherine.wilson@lebonheur.org.