What will your transformational legacy be?

This story originally appeared in the Summer 2020 edition of Promise magazine.

Imagine what your legacy might be. As a philanthropic partner with Summa, your investment could foster a medical breakthrough, a new life-saving procedure or an innovative medical device. It might enrich the knowledge or advance the work of physicians on the cusp of a new discovery. Your gift could be instrumental in attracting and training the next generation of exceptional physicians with a medical specialty, or researchers exploring new medical frontiers.

Endowment Gifts 

When you establish an endowment, you create a permanent legacy of support for Summa Health. The principal amount of your gift remains intact and generates interest income. This income is made available each year for your desired purpose. In this way, your endowment:

• Benefits present and future patients in receiving the highest quality care,
• Perpetually recognizes you as the benefactor,
• Supports your area of interest for future generations, and
• Honors or memorializes a loved one, a respected physician or caring health provider now and always.

There are several ways to establish an endowment: 

• Endowed fellowships attract high-performing fellows who have strong potential to make significant contributions to clinical initiatives at Summa Health in a specific area. 
• Endowed chairs or directorships are an especially meaningful way to honor and recognize a doctor’s exemplary contributions to the practice and science of his or her medical specialty. 
• Endowed funds are vital to recruiting and retaining the most talented physicians, residents and researchers in their fields. 

The IRA Charitable Rollover: A gift that benefits giver and receiver

Those who are 72 or older are required to withdraw a certain percentage of their IRAs each year, a government mandate that can raise taxable income considerably. The IRA charitable rollover allows you to avoid that tax liability.

By transferring all or part of your required minimum distribution (RMD) directly to Summa Foundation, you reduce your taxable income, and you help to advance the mission of Summa Health to provide the highest quality, compassionate care for your family, friends and neighbors. 

To establish an endowment at Summa Health or arrange a direct transfer of funds from your IRA account to Summa Foundation, contact Barbara Boyce, senior director of gift planning, at 330.375.6356 or boyceb@summahealth.org.