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Bay Medical Foundation

Bay Medical Foundation is dedicated to supporting the highest level of patient care, equipment, and health services in eastern Michigan. Gifts to Bay Medical Foundation can take many forms. Some donors wish to remember a loved one; others want to make plans now for establishing a legacy while enjoying the tax advantages of charitable giving. Endowments provide for the community's health care needs in perpetuity and support to the Annual Giving campaign ensures support for ongoing programs.

Browse our site to see how the community benefits from its philanthropy toward Bay Regional Medical Center.

Find/Contact Us
Bay Medical Foundation
Medical Mall I
1460 Center Avenue
Essexville, MI 48732
Phone: (989) 895-4725
Fax:(989) 895-4730

About The Foundation
The cornerstone for Bay Medical Foundation was laid in 1972 when citizens in the community raised $3 million to build the nucleus of Bay Regional Medical Center. In 1978, Bay Medical Foundation was established as a non-profit, 501(c)(3) corporation. Today, the Foundation's Board of Trustees is made up of 35 community members who volunteer their time and expertise. Bay Regional Medical Center and its Foundation are continually looking ahead to anticipate future needs and develop model programs to benefit the people of east Michigan.

Mission Statement
Bay Medical Foundation raises funds and supports Bay Regional Medical Center in its mission of improving the health of the communities it serves. Our focus is to raise funds through:

  • Major, Annual, and Endowment contributions
  • Special Events such as Golf For Life, and the Memorial Tree Programs
  • Planned Gifts (Gift Annuities, Charitable Trusts, and Bequests)

The Bay Medical Foundation is ready to assist you in developing a personal, charitable gift that will benefit our community for years to come. Please call the Foundation or email us and we will contact you.

Donations may include cash, securities, real estate, and insurance policies and may be designated for a specific use within the hospital or health care system. A deferred gift, such as a bequest or charitable trust, can also be an important part of your estate plan. All donations can be structured to provide you or your heirs with significant tax advantages.

Ways To Donate

Memorial and Honorarium Giving
The next time you are faced with searching for a way to help express your feelings, consider an honorary or memorial gift that will be recognized and appreciated by others for years to come. A gift to Bay Medical Foundation can be a fitting, personal way to honor the memory or successes of a loved one, or mark other milestones in life.

When the tribute is in memory of someone dear, the Foundation will notify the family of your kind act, but will not disclose the amount of your donation.

The following are excellent occasions for donating:

  • Anniversary
  • Birthday
  • Holiday
  • Retirement
  • Appreciation
  • Graduation
  • Memorial
  • Other

To make a contribution by filling out a form and mailing it in click here .

To make a contribution online click here .

Annual Giving Program
Members of the Annual Giving Program provide a source of support that Bay Regional Medical Center can count on, year after year. Donors make an annual contribution and are recognized at different giving levels.

Endowments
The Endowment Fund was established in April 1991. Annual yield on the Endowment's untouchable principal assures income in perpetuity to Bay Regional Medical Center, an income that continues to grow as the Endowment prospers.

Those who establish such funds may designate the purpose for which they are used.

Bequests and the Legacy Society
Members are those who name Bay Medical Foundation in a will, living trust, charitable trust, insurance arrangement, or charitable gift annuity. An attractive permanent display in the hospital recognizes Legacy Society members by name. This is the Foundation's way of honoring today those who make a gift for tomorrow. 

Charitable Estate Planning
Each year, the Foundation receives bequests and other planned gifts from donors with the foresight to plan for the future. Planned gifts can include such things as:

  • bequests in wills and living trust agreements
  • life insurance beneficiary designations
  • bequests of pensions and IRAs
  • remainder interests in homes
  • charitable remainder trusts
  • charitable lead trusts
  • gift annuities

Bequests in Wills and Living Trusts
Perhaps the best-known method of creating a legacy, a bequest in your will or trust is a wonderful way to benefit future generations by your philanthropy. You may transfer any type of property: cash, stock, real estate, etc. You may transfer a fixed amount, a fixed percent, or the "residue" of your estate left after taking care of other beneficiaries.

Life Insurance
Naming the Foundation as beneficiary or partial beneficiary of a life insurance policy is the easiest way to create a legacy. All you need to do is sign a beneficiary designation form. If you use group life insurance, there may be income tax benefits as well as estate tax benefits. Older policies that are no longer needed (such as GI insurance) can be donated to the Foundation, entitling you an income tax deduction.

Pensions, IRAs and Annuities
Retirement plans are subject to double taxation (income taxes and estate taxes), so these are often the best assets for creating a legacy. In some cases, the combination of income and estate taxes can deplete a retirement plan by 70 percent or more. Naming the Foundation as the beneficiary of your retirement plans can save both income and estate taxes, creating maximum tax "leverage."

Remainder Interest in Residence
You can get a current income tax deduction by giving the Foundation a remainder interest in your home, while you continue to live there.

Charitable Remainder Trusts
A charitable remainder trust is a way to "have your cake and eat it, too". You create a trust, donate property to that trust, and the trust makes regular payments to you or someone you designate. You choose the payout rate. (No less than 5%; not more than 50%). A charitable remainder trust can be an excellent way to convert non-income producing investments to income-producing, to minimize capital gains taxes on appreciated property, and to supplement your income, as well as creating a legacy. The tax laws provide income, capital gains, and estate tax benefits for establishing a charitable remainder trust.

Charitable Lead Trusts
You can set up a trust that makes annual payments to the Foundation for a number of years. At the end of that time, the trust can come back to you, or go to your family. A lead trust established at death, with ultimate distribution to your grandchildren, can make a fine legacy.

Charitable Gift Annuities
You can give property to the Foundation in return for the Foundations promise to make payments to you for the rest of your life. The payout rate and tax benefits depend on your age. You can choose to have the payments begin immediately, or you can defer the payments so that they supplement your retirement income in the future.

GiftLaw

Recognition Given To Donors
Bay Medical Foundation is grateful for all its donors. Every gift to Bay Medical Foundation is recognized in our annual publication. Gifts are recognized on the Wall of Honor prominently displayed in the hospital's main lobby. Whenever possible, contributions are further honored by plaques on equipment, patient rooms or other patient care areas.

To make a contribution online click here.
To make a contribution (print and mail in)  click here .

Legacy Society
Charitable planned gifts are often gifts where the charity will benefit sometime in the future. Asset transfer may occur via a charitable gift annuity, bequest in a will, charitable unitrust, or through a gift of life insurance. The donor(s) name (ex: The John Doe Fund) shall be listed appropriately under the endowment fund or any other special fund they may designate. Donors who indicate or who have taken action to make such a gift will be invited to an annual program to receive special acknowledgment.

Foresight
Members of the Legacy Society have demonstrated the wisdom and foresight to have their financial and estate plans in order and have included Bay Medical Foundation in their gift planning. Donors names are listed in the annual publication and are displayed prominently on a commemorative wall plaque. The Foundation holds elegant recognition events to honor Legacy Society donors. Donors are also entitled to free estate and financial planning consultations with knowledgeable members of the Foundation staff.

Naming Opportunities
Bay Medical Foundation recognizes donors with Legacy Society, Visionary Society, and Heritage Circle. When a gift to the Legacy Society or Visionary Society is accepted, a building, area, or program is permanently named for you or the person you wish to honor. Heritage Circle gifts are $50,000 and once a gift is accepted, a commemorative plaque is placed on permanent display. For example, a plaque placed outside the 5th Floor Family Lounge at Bay Regional Medical Center could read: "Dedicated with gratitude to John and Jane Doe, 2000". 

Upcoming Foundation Events

Memorial Tree Programs
Be part of this event by making a special tribute in memory of someone dear to you. Gifts of all sizes are welcome. The names of loved ones remembered will be read at the lighting ceremony. This program is held in the months of May and December. The program consists of illumination of the Memorial Tree, reading of all names of persons being memorialized or honored, and complimentary refreshments followed by a reception. All names will be on display in the Bay Regional Medical Center Chapel (on the fifth floor).

Robert C. Prophater, M.D. Golf For Life Classic - August
Bay Medical Foundation's Golf For Life has raised more than $600,000 since its inception in 1992 and supported many projects over the years. Golf For Life not only raises funds and friends for a worthy cause it has gained the reputation of being the number one golf tournament in our area!  Our next golf outing will be held on Monday, August 2, 2010 at the Bay City Country Club.

Upcoming Bay Regional Medical Center Auxiliary and Foundation Events

2010 Charity Auction
The Bay Regional Medical Center Auxiliary was established in 1973 to operate the Gift Shop and to organize annual fundraising events to support the services Bay Regional Medical Center provides to the community.
On Thursday, April 28, 2011 the Foundation will be holding our annual charity auction.

Click here for more information on Bay Medical Foundation and Bay Regional Medical Center Auxiliary Events.  Search on Special Events.

 

 



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