Leave a Legacy
Joe Arno Legacy Fund
Legacy Society History
In the late 1950’s, a dedicated group of volunteers decided Avalon needed its own formal hospital, a place where patients could be treated on an emergency basis as well as in an in-patient capacity. Many individuals were part of the efforts that led to the original hospital, but one of note was Joe Arno. He, and those who helped fundraise, had a vision and worked tirelessly to bring it to fruition. In recognition of his vision and efforts, we have created the Joe Arno Legacy Society.
Membership in the Joe Arno Legacy Society is voluntary. Its purpose is to recognize those who support the vision and legacy of those early volunteers by making a gift to the Foundation through their wills or estate plans or by another type of legacy, or planned gift. These gifts are especially valuable, for they provide funds for purposes such as an endowment or for expansion and updating rather than for operating expenses.
The information on this page will offer ideas as to how you can be a partner in serving the medical needs of Catalina Island’s residents and visitors through the hospital, physician’s offices and ancillary services. Legacy giving provides the resources necessary to sustain excellence and preserve the future of Catalina Island Health.
There are many ways to support Catalina Island Health Foundation as there are needs for your support. Planning a gift is more than just finding a need. There are many factors to consider. If you are not familiar with the concepts and strategies of charitable gift planning, then we encourage you to consult with your attorney or financial adviser.
P.O. Box 524 Avalon, CA 90704
(310) 510-5160
Tax ID – 33-0627293
If your goal is to:
Make a quick and easy gift.
You can simply write a check, your benefit will be an income tax deduction and funds can be put to immediate use.
Avoid tax on capital gains.
You can simply write a check, your benefit will be an income tax deduction and funds can be put to immediate use.
Defer a gift until after your lifetime.
Add a bequest to your will or trust (give cash, specific property, or a share of the residue of your estate). You retain control of your assets. There may be a reduction in estate taxes.
Make a revocable gift during your lifetime.
Name the Foundation as the beneficiary of assets in a living trust. You retain full control of the trust terms in your lifetime.
Avoid capital gains tax on the sale of a home or other real estate.
Donate to real estate to the Catalina Island Health Foundation or sell to the Foundation at a bargain sale. You will receive a charitable tax deduction with the possibility of reducing or eliminating capital gains tax.
Give your personal residence but retain life use.
Create a charitable gift of future interest called a retained life estate. You receive the tax advantages plus use of the property.
Make a large gift with little cost to you.
Contribute a life insurance policy you no longer need. You receive current and possibly future income tax deductions.
Secure, fixed payments for life with a hedge against inflation over the long term.
Create a charitable remainder unitrust. You receive variable payments for life plus tax benefits.
Factors in Planning
One very important aspect of planning for the future is to take time to consider your overall financial and estate plans. It is important that wills and/or estate plans are drawn to ensure that your wishes are carried out upon your death. If you are ready to consider making or reviewing your estate plan, consider using the four “P’s” as a simple guide. Before visiting your attorney or financial advisor take time to list the following:
People
Who are all the people in your life who depend on you or whom you might want to remember in your plans? Spouse, children, grandchildren, other relatives, friends and loved ones come to mind.
Property
What are the various properties that you own together that make up your estate? List real estate, insurance, annuities, mortgages held, automobiles, furniture, etc. Make a note of the cost of each, the estimated current value and any income or debt involved.
Plans
How would you like to match your properties to the people you have listed? Be sure to include any plans you have to remember your charitable interests such as Catalina Island Health Foundation.
Planners
Who are the people you will need to talk with to complete your plan? Remember to list your attorney, insurance agent, broker, trust officer, certified financial planner and perhaps others.
Once you have been through this process, you are ready to put it all together. If you would like more information about the Foundation or if we can help in any way, please contact us at (310) 510-5160.
Please keep in mind that your individual circumstances need to be considered before taking any action. As with all tax and estate planning, please consult your attorney or financial adviser.
