Planned Giving

Planned giving provides donors with an opportunity to leave a legacy to Cleveland Hearing & Speech Center. Planned gifts can also provide you with income, help avoid or minimize taxes, and assure that the programs and services offered by the Center continue into the future. Listed below are ways you can enhance your donations to CHSC. Contact our Director of Development at 216-325-7578 to discuss your philanthropic goals. Click here to view our Heritage Society Legacy Giving Program Brochure.

To Make a Gift of Stock or Appreciated Assets

How to Transfer Stock Instructions

Endowments

Endowments provide an opportunity for donors to leave a permanent legacy to Cleveland Hearing & Speech Center. The minimum gift required to create a named endowment is $25,000. The principle of the endowment will be permanently invested, while the income will be used for designated purpose of the gift.

You may also choose to make a gift to Cleveland Hearing & Speech Center's board-designated endowment. Gifts of any amount can be made to this endowment fund. Proceeds are used to support the programs of the Center and are directed where the need is greatest. In addition, the Center's board of directors may make discretionary distributions from this endowment to support the growth of Cleveland Hearing & Speech Center.

The Bernard and Daria Henri Endowment Fund for Cleveland Hearing & Speech Center shall be utilized to support the mission and goals of Cleveland Hearing & Speech Center (CHSC). Since its founding, Cleveland Hearing & Speech Center has been blessed with leaders such as Dr. Bernard Henri, who have been compassionate stewards to its resources. As a result, CHSC is a vibrant, nationally recognized leader in hearing, speech and deafness services. This jewel, created by those who have given generously of their time, talent and treasure, is a gift left to us by visionary leaders, donors and friends who have gone before us.

Building this Endowment will sustain and strengthen what we’ve received and will help to serve today’s infants, children and adults who receive our services, and those who will follow.  In challenging times, the endowment will act as a safety net - allowing the Center to stay true to its mission without compromising core values and principles. The fund will be used at the discretion of the Executive Director in support of our important work.

Contact the Director of Development at 216-325-7578 to discuss your philanthropic goals.

Matching Gifts
Often, companies will match gifts made by their employees, thus doubling or even tripling the impact of your gift. Please complete the matching gift form provided by your company and mail it to Cleveland Hearing & Speech Center with your gift. We will verify your gift and return it to your company's matching gifts administrator. Contact your human resources office for more information.

Memorial and Honor Gifts
Gifts made in honor or memory of a loved one, or in thanks or recognition of someone, is a wonderful way to support CHSC. When you make a tribute gift, we will notify the person you have recognized without revealing the amount of the gift. Please be sure to include complete name and address information for the family or person honored so that we may send notification of your gift. You may indicate this information on our online donation form.

Bequests

One of the easiest ways to provide for a future gift to Cleveland Hearing & Speech Center is to name the Center as a beneficiary in your will. There are several types of bequests.

Specific Bequest

To give a specific dollar amount or percentage of your estate to Cleveland Hearing & Speech Center, the following language is suggested:

"I give and bequeath the (sum or description or X%) of my estate to The Cleveland Hearing and Speech Center, Cleveland, Ohio, an Ohio not-for-profit corporation, for its general charitable purposes."

Residuary Bequest
 

To designate a portion of your remaining estate, after taxes, expenses, and other debts are paid, the following language is suggested:

"I give and bequeath (all or % of the rest, remainder and residue) of my estate to The Cleveland Hearing and Speech Center, Cleveland, Ohio an Ohio not-for-profit corporation, for its general charitable purposes."

Contingent Bequest

To designate a portion of your estate to Cleveland Hearing & Speech Center if your other primary intentions cannot be met, the following language is suggested:

"In the event that (my spouse or my children) shall not survive me, then I give and bequeath (sum or description of property) of my estate to The Cleveland Hearing and Speech Center, Cleveland, Ohio, an Ohio not-for-profit corporation, for its general charitable purposes."

Charitable Gift Annuity

A charitable gift annuity is a simple contract. In return for a gift of cash, marketable securities, or in some cases real estate, you (and/or another beneficiary) receive an income for life as well as an immediate charitable contribution deduction. The amount of the annuity income is based on your age and that of the beneficiary, and a portion of that income is tax-free. At the death of the last beneficiary, the remainder passes to Cleveland Hearing & Speech Center.

Charitable Lead Trust

Cash, marketable securities, and (in some cases) income-producing real estate may be placed into a charitable lead trust that provides income from earnings to Cleveland Hearing & Speech Center for a specified term of years. At the end of the term of years, the assets in the trust revert to the donor or to the individual(s) designated by the donor. A charitable lead trust may provide you with an opportunity to significantly support a special project at Cleveland Hearing & Speech Center during your lifetime

Charitable Remainder Trust

A Charitable Remainder Trust can be established during your lifetime or through your will with cash, marketable securities, or real estate through two types of trusts, a Charitable Remainder Annuity Trust and Charitable Remainder Unitrust. Both types of trusts name Cleveland Hearing & Speech Center as the ultimate beneficiary. The difference in the two trusts is the way that they pay income to you and other named beneficiaries. An annuity trust pays a fixed payout dollar amount. A unitrust pays a fixed payout percentage of trust assets valued annually. Both trusts give you an opportunity to receive income for life, avoid capital gains or estate taxes, and receive a charitable income tax deduction.

Charitable IRA Rollover

If you are age 70 ½ or older, consider this as a way to make your charitable gifts this year

Through December 31, 2017, qualified IRA charitable distributions allow you to transfer lifetime gifts up to $100,000 using distribution from your IRA which is excluded from income tax.  

Here’s how:
•    You are age 70 ½ or older at the time of the gift;
•    You make the gifts  of any amount up to $100,000 before Dec. 31,2017; and
•    Funds must transfer directly from your IRA to the qualified charity.

Individuals may make a qualified charitable distribution to a charity any time in 2017. The donation must be sent directly from the IRA custodian to a qualified charity. The owner of the IRA authorizes the distribution and has it sent directly to the charity, thus avoiding income tax on those dollars.  The IRA qualified charitable distribution limit is $100,000.  You can make a distribution many times throughout the year and you may make gifts to more than one qualified organization.

Please consider making a gift from your IRA to Cleveland Hearing & Speech Center.  For more information, please contact our Director of Development, at 216-325-7578 or via email at sthomas@chsc.org.

Life Insurance
If you have a life insurance policy that is fully paid and no longer needed for the protection of your family, you can make a gift and designate Cleveland Hearing & Speech Center as the beneficiary. If the policy itself is given to Cleveland Hearing & Speech Center, you may be eligible for a charitable income tax deduction for the "present value" of the policy. Naming Cleveland Hearing & Speech Center as the beneficiary will result in an estate tax deduction.

Tax-Deferred Retirement Plans
An IRA, Keogh, 401(k) or other qualified retirement plan that passes to an individual beneficiary may be significantly reduced by income and estate taxes — sometimes, by as much as 70%. Instead, consider leaving your retirement accounts to Cleveland Hearing & Speech Center, which does not pay income tax and which qualifies for a full estate tax exemption. The result will be that all of your retirement funds will pass to an organization free from tax.

To name Cleveland Hearing & Speech Center as beneficiary of your retirement plan or life insurance policy is easy. Simply contact your retirement plan administrator or insurance agent and ask for the appropriate forms.