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Legacies Foundation
The legacy begins…
In 1902, the medical fraternity of Centerville, Iowa, recognized the need for a centrally located facility to provide medical care for the surrounding rural community. These early health care pioneers raised the substantial sum of $10,000 and with it established a hospital in what was once the William Peatman residence on South Main Street. Before long, other buildings were acquired or erected, and upon the hospital's opening in November 1903, it consisted of a string of buildings that stretched from Main Street back to South Twelfth Street.
Eventually, financial and management difficulties were encountered, prompting Father Loftus of St. Mary's Church, along with a committee of business and professional men, to approach the Sisters of Mercy in Council Bluffs, Iowa for assistance. In September of 1910 with the Bishop's approval, two Sisters of Mercy - Sr. Evangelista Claherty and Sr. Alacoque Lannan - assumed complete responsibility for management and operations of the hospital. The facility flourished under their supervision and was soon christened St. Joseph's Mercy Hospital, recently becoming Mercy Medical Center.
The legacies continue…
Today, our comprehensive services, advanced technology, and caring, highly trained personnel - all housed in beautifully modern, comfortable physical facilities - combine to make Mercy Medical Center - Centerville (MMCC) the premier rural hospital in southern Iowa.
Despite a lack of tax supported aid, MMCC, steadfastly continues its mission of healing - delivering compassionate service to all who seek care. True to the mission, Mercy Medical Center serves as the welcoming hand for thousands of newborns as life begins, as well as the watchful companion, providing comfort and dignity, at the sobering moment of life's end.
Since its early beginnings, MMCC has always been self-sufficient, one of the few rural hospitals in the state not receiving taxpayer support. So, a partnership was forged between the hospital and its citizens to ensure that the mission of MMCC continues into the next millennium.
This partnership is Legacies - the Foundation of Mercy Medical Center, created to keep the spirit of healing and compassionate care alive in Appanoose County area for generations to come.
Legacies - the Foundation of Mercy Medical Center is a nonprofit organization established exclusively to support and maintain the programs and services of Mercy Medical Center - Centerville through the solicitation, acceptance, management, and distribution of charitable contributions.
As a nonprofit Catholic hospital, Mercy Medical Center serves rural Iowa in and around Appanoose County and receives no taxpayer support. The population in the area is predominately elderly and low income, a factor that results in 70% of hospital patients dependent on Medicare and Medicaid for their health needs.
Medicare and Medicaid currently pay 65% of hospital charges for patient care. The significant unpaid portion, coupled with declining Medicare and Medicaid reimbursements, creates financial instability for the hospital and provides no financial resource for new health services, programs, equipment, or long-term needs.
The Foundation collects charitable contributions on behalf of the hospital and provides resources to fund new health care services and programs, purchase equipment and maintain needed existing services.
All contributions to the Foundation go into an endowment or perpetual fund, which will be managed by the Legacies Board of Directors. The hospital also accepts gift designated for certain areas of the hospital. The hospital may request funds from the foundation for programs, equipment, services or other causes that advance the mission of Mercy Medical Center - Centerville.
Contributions
There are many ways to contribute to Legacies and become a partner with Mercy Medical Center. Annual or regular monetary gifts are accepted, along with gifts of property or real estate. You can also give to Legacies by making a bequest in your will, for instance, with the promise of your residence after death (while you continue to reside in your home during your lifetime), or by naming Legacies as beneficiary on an insurance policy or annuity. Memorial gifts in the name of a loved one can also be established. Regardless of how you choose to contribute, all gifts to Legacies are totally tax deductible since the Legacies Foundation and Mercy Medical Center - Centerville are both qualified under section 501(c) (3) of the IRS code.
Your gifts to Legacies are long-term investments in the preservation of St. Joseph's Mercy Hospital and its outstanding health care services.
In recognition of your legacies
Legacies - the foundation of MMCC - has a donor club that accommodates any and all giving levels. All contributors will be listed in the annual report published by the hospital.
Contributions of $1000 or more will be recognized on the Legacies Wall in the hospital. This wall documents the legacies of past, present and future donors to MMCC.
As a donor's total gifts accumulate, his or her family name will be repositioned to reflect the new level of contribution - public recognition for the donor's continuing support. This makes the Legacies Foundation Wall a dynamic and ever-changing display of strength and support for Mercy Medical Center.
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President's Club
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$100,000 or more
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McAuley Circle
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$50,000-$99,999
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Founder
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$20,000-$49,999
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Benefactor
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$10,000-$19,999
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Patron
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$5,000-$ 9,999
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Fellow
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$1,000-$ 4,999
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Sponsor
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$500-$ 999
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Sustaining
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$100-$ 499
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Contributing
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$50-$ 99
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Friend
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$1-$ 49
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Consider Legacies in your planned giving
Every year, you receive numerous requests for contributions to America's charitable, religious, educational and health care organizations. And each year you choose to make valuable contributions for the continued success of these organizations.
As you plan your charitable giving, we hope that you consider Legacies - the foundation of Mercy Medical Center. You can become a partner with Mercy Medical Center by choosing from any of the planned giving arrangements outlined on the following pages. the options fall into two major categories: revocable gifts (donor's can take them back) and irrevocable gifts (donors relinquish control in return for additional tax deduction benefits.
Consider a Revocable Legacy
Bequests/Wills: In addition to being one of the simplest way to distribute your estate, your will can also be a creative vehicle through which thoughtful gifts can be made. By including Mercy Medical Center in your will or by having your attorney revise your existing will, you can make a charitable bequest of a specific dollar amount or specific property, a percentage of your estate, or simply allocate what remains after others have been provided for.
Revocable Living Trust: Through a revocable trust agreement you can make a gift of property and/or income now, while retaining the right to retrieve the property if it should become necessary. You may find this a convenient way to create a "living endowment," which can be added to each year. Any earnings from the property would go to you, to others you may name, or to fund other charitable gifts - as you choose.
Trust Savings Account: A trust savings account is an account at a bank, credit union, or savings and loan company. The account is held "in trust" for someone else -either a person or organization other than the depositor of funds in the account. The beneficiary receives the money in the account either when the depositor signs over the account or at the time of the depositor's death. These accounts are also known as Totten Trusts.
Life Insurance: Many people do not realize how convenient and welcome a gift of life insurance can be. A charitable gift of an insurance policy essentially involves only one action: the naming of the nonprofit organization as the policy's beneficiary. The fits I established when the policy's owner completes a form provided by the insurance company, naming the nonprofit as the beneficiary of the policy's proceeds (gifts of insurance policies can be for part of all of the proceeds.) Another way to make a gift of insurance is to take out a new policy, naming a favorite cause or causes as the beneficiary or co-beneficiaries. Many find this a convenient way to make a special gift on "the installment plan," thereby ensuring provision of a gift that will be much larger than its cost.
Consider an Irrevocable Legacy
Major Outright Gifts: Major outright gifts are donations given to a nonprofit organization. Relatively simple to establish, outright gifts may include cash, real estate, buildings, stocks, bonds and artwork. The possibilities are wide and varied, and any one of them goes to work immediately for the nonprofit organization.
Memorial Giving: Examples of memorial gifts are endless. Many institutions and organizations enjoy buildings, equipments, scholarship and endowment funds, and a multitude of services that have been made possible by gifts in memory of loved ones. Your imagination is the only limit to the ways in which you can honor a special person.
Annuity Trusts: A charitable remainder annuity trust is a way to make a gift that allows you to retain income for life from your assets. Your funds are held separately and invested to earn a fixed and regular income for you. This among never changes regardless of the value achieved by your trust asset. The payments your receive each year will be at least 5% of the amount placed in the trust. You determine the exact amount when the plan is created.
Unitrusts: Like the annuity trust, the charitable remainder unitrust provides for a gift that returns and income. But, unlike the annuity trust, the income from a unitrust rises or falls with the value of the assets placed in the trust. You determine the percentage of payment when the gift is made. Each year, the percentage of the value of the trust assets is paid to you or to others you select.
Charitable Lead Trusts: A charitable lead trust is frequently identified simply as the reverse of a charitable remainder trust. The reason being that the annual payments of the trust are received by the nonprofit, and the remainders (the assets) are received by other people, usually the donor and/or family members.
For more specific information about giving, contact your attorney or call the Legacies office.
Consider the possibilities….
For more information about giving contact:
Legacies Foundation
One St. Joseph's Drive
Centerville, IA 52544
641-437-3411
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