Al Maggini—A Loyal and Savvy Supporter of Memorial

Al Maggini’s support has taken many forms during his 60-year affiliation with Memorial Hospital.

A former chair of the hospital’s Board of Trustees, Al understood the need for a hospital foundation to provide philanthropic support for Memorial. He spearheaded the formation of the Santa Rosa Memorial Hospital Foundation a quarter century ago. His involvement with every fundraising campaign for the hospital since its founding has been a major contributor to the success of those campaigns.

When asked why his support of Memorial has remained

so strong throughout the years, Al didn’t hesitate. “I believe in the mission of the Sisters of St. Joseph and their commitment to helping the poor. I was raised to believe that you share what you have with those who are in need, and that is what the Sisters do for our community.”

A retired stockbroker, Al brings a lot of savvy to his personal philanthropy. For the past decade, Al’s preferred method of supporting the hospital has been through the establishment of charitable gift annuities.

Spring 2017Giving Matters

Continued on Page 2

Al Maggini

The Gift that Gives Back

Assuring your financial security and fulfilling your desire to support Santa Rosa Memorial or Hospice Services need not be competing goals. With a charitable gift annuity

(CGA), you can leave a lasting legacy to support the work of the hospital or our hospices, and, at the same time, generate additional income, tax savings and other financial benefits for you and your family today.

A CGA is a contract between you and Santa Rosa Memorial. A CGA can be established for either one or two individuals. The person or persons will receive

guaranteed, fixed payments

for life. The amount of the

payments depends on the age of the person(s) who will be receiving the income. The annuity can be funded with either cash or securities. Payment rates vary with the ages of the individual(s) receiving the income. Refer to the chart to see the rates for one person. If you are interested in the rates for two annuitants, please let us

A Loyal Supporter continued from Page 1

“Supporting the hospital is important to me, and if I can realize tax benefits at the same time, why not?”

A charitable gift annuity offers a significant tax deduction at the time it is established, as well as fixed income for life. Further, the income is also partially tax exempt.

“For me, this is a win-win. I have a way of providing support to the hospital while minimizing my tax bill. Who wouldn’t think that’s a good idea?”

For more information call Liz Tunney Williams at (707) 547-4692.

2GIVING MATTERS | Spring 2017

ACGA Gift Annuity Payment Rates

Selected Rates for One Person

Age Rate

90+ 9.0%

85 7.8

80 6.8

75 5.8

70 5.1

For illustrative purposes only. Please ask for current benefits and rates for other ages.

3

know and we will be happy to provide those rates to you.

Because a portion of the gift annuity will ultimately be used for charitable purposes to support our hospital or our hospices, you may

claim a sizeable income tax

deduction at the time you make the gift. For example, an 80-year-old donor would receive an income tax deduction of $12,688 on a $25,000 charitable gift annuity. In addition, a significant portion of each payment received may be tax free. Charitable gift annuities offer you a safe, lifelong income stream with extremely attractive rates. Younger donors may opt to defer receipt of payments for several years. By doing so, they will realize a larger payout once they start receiving payments.

Provide for OthersSome people have used charitable gift annuities as a way to provide additional income to a parent, sibling or friend (this may even be done anonymously), or to ensure retirement income for a long-time employee.

Consider an example where you are providing regular

support to your parents. Normally, these payments would come from your after-tax dollars. However, by establishing a gift annuity that benefits them, they would receive a reliable income for life that will be partially tax exempt to them and would provide you with a sizable income tax deduction at the time the CGA is established.

Gift annuities are a great way to support Santa Rosa Memorial or Hospice Services. In addition, they may result in gift, estate and income tax savings while ensuring lifelong, guaranteed income for you or a loved one.

How can you participate? Please contact Liz Tunney Williams at (707) 547-4692 or Liz.Williams@stjoe.org to learn how the charitable gift annuity can help you meet your priorities—and help build a stronger future for you and Santa Rosa Memorial or Hospice Services. All information you provide will be held in the strictest of confidence.

Photos by Thinkstock

Thanks to the generous

support of our donors,

the first two of three

3-D Tomosynthesis

Mammography Systems

will be installed later this

summer. One will be

located at Memorial’s Imaging Center at 121 Sotoyome and

the other within Petaluma Valley Hospital. This technology

will transform the way patients in our community receive

screenings and diagnoses for breast cancer.

The tomosynthesis technology allows physicians to see

breast tissue with clarity never before possible. It can detect

small tumors at an earlier stage which will lead to earlier

diagnoses of cancerous tumors. The new 3-D equipment

will significantly improve our ability to identify invasive

cancers. It will reduce the number of false positives as well

as the need for call-backs and unnecessary biopsies, sparing

patients the anxiety that comes with uncertainty. Earlier

diagnoses will translate into better outcomes. In short, this

advanced technology will transform how we diagnose and

treat breast cancer.

Fundraising is underway for a third 3-D mammography

machine, which will also be located in 121 Sotoyome.

Once installed, this revolutionary new technology will be

accessible to 100% of our patients.

The role of philanthropy is more important than ever.

Providing patients with the care that they deserve requires

the best clinicians and advanced technology. We ask that you

invest in our future to advance cancer care in our community.

For information about how you can help, please contact the

Foundation office or visit www.GivetoMemorial.org.

State-of-the-Art Mammography Systems Coming to St. Joseph Health - Sonoma County

4

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If You Are Taking Required Minimum Distributions from Your IRA…

• Are you required to withdraw more funds from your IRA than you need right now?

• Do you think you may need additional income in the future?

• Are you hesitant to make the gift you want to make now because of potential future needs?

• Have you been considering leaving a portion of your estate to the hospital or hospice through your will or other long-range plans?

If you answered YES to any of these questions, a deferred gift annuity may be the perfect solution.

A deferred gift annuity guarantees that you will receive a pre-determined amount of income for as long as you live, but the income will not begin until a future date of your choice.

You’ll still be required to report the funds you withdraw from your IRA as current income, but as with a regular charitable gift annuity, you will be able to claim an income tax deduction based on the value of the deferred gift annuity, reducing your total tax bill.

Example: Hank Kaplan will turn 70½ this year, and will be required to withdraw $100,000 from his IRA. He does not need the funds now, but is concerned about having sufficient income in the future. He decides to establish a gift annuity for $100,000 and to delay the payments for ten years. At that time, he will begin receiving $9,300 per year for as long as he lives.

Mr. Kaplan will be entitled to an income tax deduction of almost $65,000 in the year he makes the gift, which will help reduce his income tax. Further, he may utilize any excess deduction over an additional five years.

Mr. Kaplan is pleased with the “secondary retirement income” he has created while providing a meaningful gift to support St. Joseph Health.

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