So that we can preserve this important institution in the years to come, and continue to educate excellent nurses and provide full-time and part-time education to nurses who are seeking to move up the career ladder, we hope you will join us in The Legacy Society by making a planned gift to HFCN.
The Legacy Society recognizes and honors those friends of HFCN who have made a commitment to the future of this institution by including it in their estate plans.
You may become a member of The Legacy Society by:
• Making a gift to HFCN in your will or trust,
• Participating in a life income arrangement for the benefit of HFCN, such as a charitable remainder trust or charitable gift annuity,
• Creating a lead trust for the benefit of HFCN, or
• Naming HFCN as a beneficiary of a retirement plan or life insurance policy.
There are no dues or fees associated with membership in The Legacy Society. With their permission, members are listed in the College's Annual Report, and also receive invitations to exclusive events such as tours of the college and members’ evenings. Most important, members of The Legacy Society know they are ensuring HFCN's standard of excellence for future generations.
Making a Bequest
A bequest is a very flexible planned giving tool that allows you to leave money or property to HFCN. You can leave a specific asset, a sum of money, a percentage of your estate or the remainder of your estate after you have provided for other beneficiaries. You may specify the purpose of your legacy, or you may allow HFCN to determine its use.
The federal government encourages charitable bequests because it allows an unlimited estate tax deduction for gifts to qualified charities. Substantial gifts can be made without affecting your family's current financial security while maximizing the tax savings on your estate. Both the principal and the income of your estate are available to you during your lifetime.
A bequest is created through a written and executed will that may be changed by you at any time.
How to Make a Bequest: Useful Language
The most useful bequest is an unrestricted bequest for the general purposes of HFCN. This permits HFCN to use your gift wherever it is most needed at the time.
Suggested language for making an unrestricted bequest: "I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to HFCN 24 East 120th Street, New York, New York, Federal ID Number 13-3705284, for its general corporate purposes."
Suggested language for a specific purpose: "I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to HFCN, 24 East 120th Street, New York, New York, Federal ID Number 13-3705284, which is to be used for the following purpose: [state the purpose]."
Charitable Remainder Trust
A Trust provides a source of income to a lifetime beneficiary (which could be you) and on the death of the beneficiary, the remainder of the trust would be paid to HFCN. If you set up the Trust during your lifetime, you will receive an income tax deduction. If appreciated property is transferred to the Trust, you will avoid capital gains tax. Some people choose to couple these with a life insurance trust, so their heirs’ bequests will not be reduced by the gift to the charitable remainder trust.
HFCN can be designated as the sole or partial beneficiary of a retirement plan. Designating HFCN as a beneficiary can spare your loved ones the burden of paying income tax.
If a life insurance policy is transferred to HFCN, you will receive an income tax deduction of the cash surrender value of the policy. Alternatively, you can name HFCN as the beneficiary of a policy that you own. There is no immediate tax deduction, but it does ensure significant future support.
Special Note: Before finalizing any charitable or financial plans, we strongly encourage you to seek the counsel of your legal, tax or financial advisor.
For more information on making a planned gift to HFCN, please call us at 212.616.7202 or send an email to firstname.lastname@example.org. You can also send us an online message from our Contact Us
page. someone from the Development Office will contact you regarding your inquiry at the earliest.