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Your Donations at Work: How One Family Was Touched by the "Spirit of Otterbein"

Just a few years ago, Frank and Betty Rodgers, in their mid-70s, were living in their own home and caring for their 42-year-old mentally challenged daughter, Grace. Suddenly, Frank had a stroke, and although he recovered for the most part, they became acutely aware that they needed to move where care, for them and their daughter, was available when needed.

Someone from church reminded Frank and Betty about the good care for "older persons" available at Otterbein Lebanon. But what about Grace? When they met with an Otterbein admissions counselor, they expressed their concerns about someone caring for Grace the way they do.

After talking through their options, the Rodgers began to feel confident about their future and a future for their beloved daughter. "We were so relieved," Betty says, "to know that Grace could move in with us and continue to receive care when we are no longer able to provide it ourselves—even if we outlive our financial resources. The safety net that benevolent care provides is priceless, but we are fully aware that it stems from the generosity of others. In fact, we have given to Otterbein's benevolent ministry for years."

It is well known that Otterbein provides loving, quality care for those living on our campus. But there is something even more important than attention to physical needs. The Rodgers now have peace of mind. And, they share their experience with others who have similar concerns. They pass along the "spirit of Otterbein" that was extended to them.

Coming to live at Otterbein gave the Rodgers family the freedom to enjoy life together. They expanded their circle of friends. Those who live and work on campus embraced Grace as one of their own—including Boris, the huge teddy bear that she carries everywhere she goes!

The Rodgers are quick to note that Otterbein is more than a place for old people to live out their last years. It is a community where every individual is respected. Complete care—for body, mind and spirit—is offered to all.

As they walk across campus with Grace (and Boris), the waves and "hellos" remind them that they did not lose their home—they found it.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to Otterbein Senior Lifestyle Choices a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Otterbein Senior Lifestyle Choices, a nonprofit corporation currently located at Lebanon, OH, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Otterbein or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Otterbein as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Otterbein as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Otterbein where you agree to make a gift to Otterbein and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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