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Donor stories

Robert Van Tassel

Planned gift shaped by forty-year career in cardiovascular medicine

Abbott Northwestern has been the perfect match for Robert Van Tassel, MD—both professionally and philanthropically.

Neiman

Passing the torch: planned gifts support the next generation of care

In January 1980, Carol Huttner, RN, BSN, MA, was a newly hired nurse. One of her first assignments was to ride along in an ambulance as patients from Abbott Hospital were moved to Northwestern Hospital – a final step in the merger that created Abbott Northwestern Hospital.

Neiman

Expressing gratitude for excellent care and a long life together

When Rusty Huff and her extended family gather for their annual summer vacation on Lake of the Woods in Ontario, they know that John Huff is there in spirit.

Neiman

A gift in appreciation of many shining moments

Bill Neiman's decision to make a gift in his will to Abbott Northwestern Hospital Foundation isn't based on any one reason. That's because he's witnessed so many examples of expert care from staff at the hospital.

Spillane

An enthusiastic supporter gives from the heart
There are many reasons Jack Spillane supports Abbott Northwestern Hospital and Minneapolis Heart Institute. Not the least of which is the care he received after learning he needed heart surgery in 2008. That exceptional care has led Jack to include Abbott Northwestern Hospital Foundation in his estate plan. "They saved my life, and I think the world of what they are doing," Jack says.

Manning

Countless acts of kindness help save a life
Bill Manning owes his life to the care he received at Abbott Northwestern Hospital. The quick response and follow-up received from more than 80 staff members helped him recover from a potentially devastating esophageal tear. To show his appreciation, he has made a planned gift to the hospital foundation.

Dr. Abbott

Dr. Abbott’s 99-year-old granddaughter creates a legacy of her own
Marie Slaton knows that her grandfather would be pleased to see how his hospital has continued serving the community as he envisioned. She hopes others will be inspired to do as she has.

Sharon Mertz and Dr. Jamie Gaviser

Sharon Mertz didn't stop giving back
A graduate of Northwestern School of Nursing, Mertz also has made a provision in her will to leave a legacy gift to the Abbott Northwestern Hospital Foundation.

Anita Thompson

Retired nurse helps other nurses achieve their career goals
Now retired, Anita Thompson has found a way to help others achieve their career dreams. She has included Abbott Northwestern in her estate planning, making a planned gift that will, upon her death, establish the Anita Thompson Nursing Continuing Education Fund.

Paul Bilka, MD

A story for the season: Dr. Bilka's final gift
Paul Bilka, MD, made some decisions near the end of his life that will have a lasting impact on Abbott Northwestern Hospital. He made legacy gifts and a $1 million cash donation to the hospital.

 

 

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A charitable bequest is one or two sentences in your will or living trust that leave to Abbott Northwestern Hospital Foundation 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 Abbott Northwestern Hospital Foundation, a nonprofit corporation currently located at Mail Route 16509, 800 East 28th Street, Minneapolis, MN 55407-3799, 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 the Foundation 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 the Foundation 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 the Foundation 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 the Foundation where you agree to make a gift to the Foundation 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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