Naming CHCF on a retirement or other account, or on a life insurance policy, is a simple way to provide support without writing or re-writing your will or living trust. These assets will pass directly to CHCF without going through the probate process. The benefits include:

• Easily accomplished through completion of beneficiary form
• Income tax savings when retirement plan assets are used
• Possible estate tax deduction
• Support our mission far into the future

Here are some common assets for which beneficiary designations may be made.

Retirement Accounts

You can name CHCF as a beneficiary of all or a specified percentage of your IRA, 401(k), 403(b) or other retirement plan. Retirement assets are subject to both income and estate tax, and are often considered among the best assets to leave to charity. Individuals who inherit retirement plan assets must in most cases pay income tax on them. As a charity, CHCF would not pay taxes on these assets and would have full use of them.

There may be tax and financial planning implications in naming beneficiaries of a retirement plan. Consult with your attorney or tax advisor in arranging for the disposition of these assets.

Bank and Investment Accounts and Commercial Annuities

You may leave a legacy for CHCF by naming us as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account or a commercial annuity, where permitted by state law and the financial institution.

Life Insurance Policies

If you have a life insurance policy that is no longer needed for your family, designating CHCF as a beneficiary offers a simple way to support our work.

How to Name CHCF

Ask your retirement plan administrator or institution for a change of beneficiary or other appropriate form. Please identify CHCF on the form as follows:

Legal Name: Chinatown Health Clinic Foundation
Address: 268 Canal Street, New York, NY 10013
Tax ID #: 13-3808933

Please let us know when you have made a beneficiary designation for the Foundation so that we may properly acknowledge your donation. For more information, email us at development@cbwchc.org or call (212) 379-6988.

A gift through your will is one of the most effective ways to support our mission. You may wish to leave:

• a stated dollar amount
• a percentage of your residual estate (what remains after debts, expenses, taxes and specific bequests have been paid) or
• a specific asset, such as securities or other marketable property

A gift to CHCF in your will allows you to retain your assets during your lifetime. In addition, your estate, if large enough to pay estate taxes, would benefit from a charitable estate tax deduction.

A charitable remainder trust allows you to make a significant gift towards the future of our work while providing an income for yourself and family or friends.

You transfer cash, securities or other assets to a trust. The trustee invests the assets, and the trust pays income to you or to individuals you name for life or for a term of years. When the trust terminates, the Foundation receives the remainder. The trust may be a Charitable Remainder Annuity Trust (fixed payments) or a Charitable Remainder Unitrust (fixed percentage).

Benefits of a Charitable Remainder Trust

• Income for life or a term of years
• A current charitable income tax deduction for a portion of your contribution
• Capital gains tax savings if you fund the trust with appreciated assets
• Reduction in your taxable estate
• The satisfaction of making a significant gift to CHCF, helping to ensure the future of our programs

Please consult with your attorney or financial advisor to learn the benefits of charitable remainder trusts and obtain assistance with drafting the legal documents. While CHCF will not provide donors with financial or legal advice about planned giving, we can also refer you to our attorney for further information and assistance.

For more information, email us at development@cbwchc.org or call (212) 379-6988.

One of the most advantageous ways to donate is with a gift of stock. You can give appreciated stocks simply by transferring them into our account. The total value of the stock upon transfer is tax-deductible, and you will not be obliged to pay any capital gains taxes on the appreciation.

If you wish to donate stock, please contact De Young Chan, Chief Financial Officer, at dchan@cbwchc.org for detailed information and instructions.