Letter from the President
Generosity has the power to transcend time and generations , leaving a lasting impact that extends far beyond our own lifetimes . As Pablo Picasso once said , “ The meaning of life is to find your gift . The purpose of life is to give it away .” These words resonate strongly with the concept of generational and planned giving , which holds immense importance in philanthropy .
Recently , Baylor Scott & White Dallas Foundation announced that T . Boone Pickens , a renowned philanthropist , had left a generous $ 10 million bequest to benefit graduate medical education . This remarkable provision , made more than a decade ago , will undoubtedly provide a significant boost to a program that has already nurtured thousands of fellows and residents since 1909 . Such acts of planned giving not only exemplify the compassion and foresight of individuals like Mr . Pickens but also showcase the enduring impact they can make on the causes most meaningful to them .
At the Foundation , similar bequests are received every year , with the majority directed towards areas where grateful patients have personally experienced the transformative power of care . In addition , the Foundation is inspired by physicians — like Dr . Mark Millard — who choose to include our Foundation with annual gifts and in their estate plans .
In May , the Foundation gathered to celebrate donors who have followed in the footsteps of T . Boone Pickens and Dr . Millard by making similar provisions — members of our Boone Powell Sr . Society . This esteemed society stands as a tribute to the extraordinary individuals who have chosen to include the Foundation in their estate plans , reflecting their deep appreciation for the physicians , nurses and staff who have touched their lives . It was an honor to meet these remarkable people and listen to their heartfelt stories filled with gratitude and pride .
In a world that often moves at a rapid pace , embracing the power of generational and planned giving reminds us of our ability to make a difference that extends far beyond our own lifetimes . Every gift , no matter its amount or mode given , becomes a thread in the tapestry of philanthropy , weaving together the stories of countless lives touched and transformed .
As we reflect on the words of Pablo Picasso , let us remember that the true essence of life lies in our ability to give selflessly , leaving a meaningful impact that echoes throughout generations .
Ben Renberg President , Baylor Scott & White Dallas Foundation Ben . Renberg @ BSWHealth . org
FOUNDATION SUPPORT
Gift Planning
Planned giving opportunities to help your community
Why Stocks Make Good Gifts
While the heat outside indicates we ’ re far from thinking about stockings and presents , it ’ s always a good time to consider donating appreciated stocks as a gift to your favorite charities .
Giving stocks held longer than a year
instead of giving cash saves you capital gains taxes . This advantage makes the after-tax cost of the contribution less for gifts of stock versus gifts of cash .
For example , if a donor in the 24 % tax bracket has decided to make a $ 10,000 donation to charity and makes the gift in cash , it would look like this :
Cash contributed $ 10,000 Income taxes saved - $ 2,400
After-tax cost of the contribution $ 7,600
If that same donor decided instead to give $ 10,000 worth of stock that was purchased for $ 2,000 more than one year ago , it would like this :
Value of stock contributed $ 10,000 Income taxes saved - $ 2,400
Capital gains tax avoided ( 15 % of the gain )
However , despite the advantage , gifts of stock are often not well understood or widely used , possibly because we associate donations exclusively with cash instead of other assets .
- $ 1,200
After-tax cost of the contribution $ 6,400
If you would like to learn more about making a gift of appreciated stocks or securities to Baylor Scott & White Dallas Foundation , please call Craig Foster at 214.820.8196 or email Craig . Foster @ BSWHealth . org .
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THE COMPASS / BAYLOR SCOTT & WHITE FOUNDATION NEWS / SUMMER 2023
BSW Dallas Foundation does not provide legal or accounting advice . Please check with your attorney or tax advisor for any questions you may have .