Ideas on financial, estate and gift planning for friends of Rush University Medical Center
A Gift From the Heart Fall 2013
Proops Honors Respected Surgeon and Strengthens Heart Care
In 2010 Jay Proops was
fly-fishing with friends
in Montana when he first felt a
distinct heaviness in his chest.
“My friends wanted to take me
to the hospital right away,” he
said, but Proops shrugged it off.
But when he went to see
cardiovascular surgeon Marshall
D. Goldin, MD, and cardiologist
Clifford Kavinsky, MD, PhD, at
Rush a couple months later, he
realized the fleeting heaviness
signified something far more
serious. “I had six blockages,
Jay Proops (left) and wife, Kay, with Marshall D. Goldin, MD (right), and my aortic valve was leaking
and wife, Joan 70 percent.”
Goldin performed Proops’ open heart surgery in November 2010.
“I wasn’t apprehensive about it at all,” said Proops, even though it was major surgery. “I just felt so comfortable
with both Dr. Goldin and Dr. Kavinsky.” And, remarkably, he said, “I never had any pain whatsoever.”
Now back to the active lifestyle he had before his surgery, Proops and his wife, Kay, chose to honor Goldin with a
bequest commitment to name an operating room in Rush’s new Tower for him.
“What better way to do something for Rush than to honor one of their finest?” asks Proops, now a member of
the Rush Heritage Society, Rush’s planned giving recognition society.
He also wanted to show his gratitude for the quality of care he received at Rush, from his doctors, as well as his
nurses and other Rush staff.
“You can really help others have a great life with the care that’s provided at Rush,” said Proops about the gift in
Inside This Issue • Make the Most of Your Gift • Welcoming the New Chair
• Make a Tax-Free Gift From Your IRA • Can’t Help Right Now?
• Be Aware of Gift Dates • 3 Actions You Can Take
LOOK INSIDE for smart ways to support Rush this year and in the future.
Make the Most of Your Gift
Smart Strategies for Supporting Rush This Year
When you make a gift to Rush, you provide Take a capital loss. By selling your securities that are
much-needed support for Rush’s people and worth less now than when you purchased them, you
programs. To ensure you get the most from your can take a capital loss on your tax return to the extent
generosity, here are some helpful tips on different allowed by law and then contribute the proceeds. If you
donation options, their tax benefits and gift dates: donate your securities directly to Rush, you will not be
entitled to take the capital loss.
Write a check. This is perhaps the simplest way to support
our immediate needs. To make it even simpler for you, Give real estate. To receive the greatest tax benefit,
we have included an envelope you can use to make this donate property that would result in the greatest capital
type of gift. gain if you were to sell the asset instead.
Charge your credit card. A fast and easy way to Donate an insurance policy. You can put a
make a gift this year is simply by calling Rush’s no-longer-needed policy to good use. To qualify
Office of Philanthropy at (312) 942-6830 or visiting as a deductible gift, Rush must become the policy
www.rush.edu/giving. owner. For most types
of insurance policies,
Contribute securities you have owned for more than one your tax deduction
year. If they are worth more than what you originally is usually the
paid for them, you can claim deductions for their full fair cost basis or the
market values and eliminate any tax on the appreciation. fair market value
of the policy —
Fund a life income gift. This type of donation provides whichever is less.
you with payments for your lifetime and a gift to Rush
thereafter. If you use appreciated securities that you have
owned for more than a year to fund the gift, you will
eliminate up-front capital gains taxes and be entitled to
an income tax deduction based on the charitable portion
of the securities’ full value.
Make a Tax-Free Gift
From Your IRA
Are you 70½ or older? Your chance to make a
tax-free gift from your IRA today ends Dec. 31.
You can transfer up to $100,000 directly from
your IRA to a qualified charity such as Rush. The
transfer generates neither taxable income nor
a tax deduction, so you don’t have to itemize
to take advantage of this opportunity.
BE AWARE OF GIFT DATES
By timing your charitable gifts on or before Dec. 31, you will see a tax break for
the year when you itemize deductions on your tax return. The gift date, or the
date used for tax purposes, is the day you transfer control of the asset.
• Checks — The mailing date is the date of the gift.
• Credit cards — The day the charge is authorized is considered the gift date.
• Securities — If the securities are electronically transferred to us, the gift date is the day
the securities enter our account. For hand-delivered securities, the day they are received by
Rush or our broker is the date of the gift. For securities that are mailed, the mailing date is
the gift date.
• Life income gifts — These types of gifts are considered in place once you return the signed
contract to Rush University Medical Center along with your donation.
• Real estate — The day you deliver the signed deed to Rush is the date of the gift. If your
state law requires recording of the deed to fulfill the title, though, then the date of
recording is the gift date.
• Life insurance — These gifts are considered complete on the date you sign the paperwork
transferring ownership to Rush, assuming you properly forward the form on to the
• IRA charitable rollover — Your gift is considered complete once the IRA funds have been
directly transferred to our account. Note: You must complete your transfer by the end of
this calendar year to receive the tax benefits this special donation opportunity offers.
If you have any questions about making the most of your gift this year, please contact John
Lowenberg, vice president of philanthropy, at firstname.lastname@example.org or (312) 942-2275.
Welcoming the New Chair
Joan M. Hall, life trustee and longtime donor and friend of Rush, is
the new chair of the Rush Heritage Society. She will help lead Rush’s
efforts to honor and recognize Rush Heritage Society members for
their commitment to excellence in health care.
In this role, Hall succeeds former co-chairs Robert F. Finke and Fred A.
Krehbiel, whose long-term leadership strengthened and grew the
society to its current membership of more than 250 donors and helped
guide Rush through its successful capital campaign. Membership in the
Rush Heritage Society is open to all those who notify Rush in writing
that they have made provisions to include Rush in their estate plans.
Can’t Help Right Now?
Consider a Gift in Your Will or Trust
If you believe in Rush’s people and programs but
you’re not ready to make a gift today, a gift in your
will or living trust may be the donation option
you’ve been looking for. It has these benefits:
• Simplicity. Remembering Rush in your will
or trust is one of the most straightforward
ways to make a difference. Contact us to
receive wording you can share with your
attorney to complete your gift.
• Flexibility. Because you are not
actually making a gift until after your
lifetime, you can change your mind at
• Versatility. You can structure the gift
to leave a specific item or amount of
money, make it contingent on certain events, or leave a percentage of your estate to Rush.
• Tax relief. When you make a gift to Rush — a qualified charitable organization — in your will or
trust, your estate is entitled to an estate tax charitable deduction for the gift’s full value.
Why Leaving a Percentage Makes Sense
When planning a future gift, it’s sometimes difficult to determine what size donation will make sense.
Emergencies happen, and you need to make sure your family is financially taken care of first. Including a
gift of a percentage of your estate or a percentage of your residual estate ensures that your donation will
remain proportionate to your estate size, no matter how it fluctuates over the years.
Let Us Know
If you have already included a gift to Rush in your will or trust, please notify us by returning the enclosed
survey; that way we can ensure that your gift will be used exactly as you intend. Plus, it would be our
honor to thank you for your gift and welcome you as a member of the Rush Heritage Society.
3 Quick Actions You Can Take
1 ) Return the enclosed survey to request our John Lowenberg
free must-have planning guides. Vice President
Office of Philanthropy
2 ) Visit www.rush.edu/giving to learn more about Rush University Medical Center
our inspiring mission and how you can help. 1700 W. Van Buren St., Suite 250
Chicago, IL 60612-3244
3 ) Contact us for more information on your many
Phone: (312) 942-2275
opportunities for making a difference.
If you wish to be removed from our fundraising mailing list, please contact Rush’s Office of Philanthropy by email at email@example.com, by phone at
(312) 942-6830 or by mail at Office of Philanthropy, 1700 W. Van Buren St., Suite 250, Chicago, IL 60612.
© The Stelter Company | The information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in
examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/
estate taxes or state law may impact your results.
Rush is a not-for-profit health care, education and research enterprise comprising Rush University Medical Center, Rush University, Rush Oak Park Hospital and Rush Health.