As with many individuals, families, and the passage of time, health challenges occurred and affected everyone in the Spaulding family. It was through the wonderful care they received at St. Joseph's Medical Center during these health challenges, that a vision became clear to Spauldings.
The Spaulding family chose to support St. Joseph's Medical Center through planned giving, more specifically, through their wills. It's easy just add a provision to either your will or your living trust which provides that all or a portion of your estate I so pass to a charitable organization, such as St. Joseph's Foundation. This provision can take effect immediately upon death or can be contingent upon someone else's passing, like a spouse or children. Their specific will states that after taking care of the inheritance and personal legacy for family members, the Spaulding family will leave all remaining assets to St. Joseph's Medical Center, to be evenly distributed between the Cancer and Heart Centers.
How better to individually thank the kind of caring doctors and staff of St. Joseph's? How better to really make a difference in the community of Stockton and those that call it home? For the Spauldings, giving a bequest is the answer.
St. Joseph's Foundation received a bequest of $149,000 from the late Virgil Osborn and Dorothy Osborn Family Trust and The Dorothy Osborn Survivor's Trust. The donation was directed to benefit St. Joseph's Regional Cancer Center to purchase capital equipment. "Dorothy and Virgil Osborn were an unforgettable couple," states Cancer Center Director, Ginger Manss, RN, MSN, AOCN. "Everyone who took care of them at St. Joseph's remembers their vitality and spirit."
Dorothy and Osborn cared for Virgil in 1997 through 1998 when he died of cancer. She was diagnosed a few years later and, according to Manss, "her love for other people lives on in the hearts of nurses, technicians, and clerical staff that came to know her as a friend."
The Osborn’s Lived and worked in Stockton. Virgil, an automotive parts worker, and Dorothy, a cannery worker early on in their married life, were private people who chose several local charities and their church as beneficiaries of their estate.
Shirley Dvorak and her late husband lived all over the United States and Britain. As former residents of Florence, Oregon, they moved to O'Conner Woods in 2003 to be closer to their two grown sons who lived in the Bay Area.
After we moved to O'Conner Woods, we decided to show our appreciation by establishing a Charitable Gift Annuity. We purchased it with long term held stock, avoided an income tax liability (through capital gains) and increased our income until death.
Shirley continues, "At my age, most people are not in the active stages of saving. Instead, I believe that Charitable Gift Annuities are a marvelous way to increase cash flow. CGAs are a tax deductible write off and a way of maintaining your financial base. Once you tap into your principal, it is often a slippery slope from there. Most people want to leave something for their children. If I liquidated stock for cash flow, I would not have resources to leave a legacy for our sons and their families."
Bill started buying stock after World War II. "He felt strongly that CGAs help both you and the non-profit organization or charity. It's a win-win situation."
Bill was also a grateful patient of outpatient surgery at St. Joseph's. "I feel the hospital is a very trustworthy organization, and I have been treated there several times. I think it's efficient, they did a marvelous job while I was a patient, and the staff is great."
Shirley says, "It starts with a foundation. We tithe, God has blessed us, and we thing giving comes back to the giver." She adds, "If you watch, you're better stewards for the gifts you give."
As a retired bank president, an eighteen year member of the St. Joseph's Community Board and current Board member of St. Joseph's Foundation, Bob Kavanaugh offers advice to many about effective ways to invest their money. He sees contributions to St. Joseph's Foundation as an investment in the health of our community. And that's something he and his wife Janet have dedicated their hearts and souls to achieve. "There's no question St. Joseph's believes deeply in its mission and in offering care to everyone, whether they can pay or not," said Bob.
So when they were discussing planned giving options with the Foundation, a gift of some old insurance policies excited them. "During our estate planning we realized we didn't need these policies anymore, so we thought, 'why not gift them to St. Joseph's?'" Life insurance provides an "amplified" gift. If the policy is paid in full, you can transfer ownership to the Foundation. Or, through a relatively small annual cost (the premium), a benefit far in excess of what would otherwise be possible can be provided for St. Joseph's.
The premium is paid to the Foundation and is tax deductible. The Foundation then continues to pay for the premium on the policy which guarantees the ultimate benefit. The proceeds can be received by St. Joseph's free of federal income and estate taxes, probate and administrative costs, and without any delays, fees, or transfer costs. The gift can be made without impairing or diluting control of a family business or other investments, and assets earmarked for family members can be kept intact. Life insurance can be a self-completing gift.
"We feel so good about this transaction. It was relatively easy, and now we have peace of mind knowing that future patients and programs will be impacted, far after our time here." This gift qualified the Kavanaughs for the planned giving gift circle called "Heritage Circle." The Foundation is ever so grateful for the Kavanaughs' thoughtfulness and generosity.
Occeletta Briggs, a registered nurse for over 49 years, has been a community activist for many years, bringing health care to the underserved. The former Senior Deputy Director of Nursing at San Joaquin General Hospitals has been a member of St. Joseph's Community Board since 2003. In 1996, Occeletta became a Parish Nurse Program. Since that time, she has been actively involved in a myriad of community health and educational projects and programs. So much so, St. Joseph's honored her with a "Values In Action" Award for her pioneering work in diabetes education for South Stockton residents.
"I became involved with the Foundation because I was involved in nursing," she states. "For several years, I had been a donor and attended a variety of hospital-related events."
One of these vents was a seminar on charitable giving. Occeletta learned that there are a myriad fo ways offered to give at a higher level. There were even ways to make substantial donations that benefitted the donor as well as the recipient.
"I decided to roll over a portion of my IRA because I felt it was a simple way to give to St. Joseph's," adds Ms. Briggs. "I wanted to contribute at a greater level because I realized that St, Joseph's doesn't just contribute resources; they are a presence in the community in so many ways. They look for ways to help, which is amazing in today's world."
"St. Joseph's is my hospital; it is part of my family. I consider it an honor and privilege to serve on St. Joseph's Community Board. I encourage others to explore giving opportunities and consider becoming a donor.