September 16th, 2010

Life Estate Gift Annuity

Bequests and Endowments

Appreciated Securities

Bequests and Endowments

for the

Saint Francis Foundation

Bequest and Endowment gifts are of great importance to the Saint Francis Memorial Hospital.  Outright unrestricted bequests allow the Foundation to support the Hospital were the need is the greatest.  Endowment gifts allow only income – not principal – to be used to support the Hospital and help ensure a financial future.

When you make a bequest gift you may want to name the endowment and specify its purpose or you may consider an endowment for unrestricted purposes.  An unrestricted endowment is invaluable to Hospital because it is flexible.  Funds can be directed where they are needed at the time for the overall benefit of the Hospital.

Following is the proper language to use in your will or other legal documents to set up a bequest or endowment:

Unrestricted Purposes Outright (no minimum)

I give _____________________(describe dollar amount or property given) to the Saint Francis Foundation, a California not for profit corporation with principal offices located at 900 Hyde Street, Suite 1208, San Francisco, California, to be use at the Saint Francis Memorial Hospital where the need is the greatest as determined by the Foundation’s Board of Directors.

Unrestricted Purposes Endowed (minimum gift $100,000)

I give _____________________(describe dollar amount or property given) to the Saint Francis Foundation, a California not for profit corporation with principal offices located at 900 Hyde Street, Suite 1208, San Francisco, California, to be held as part of the Foundation’s general endowment funds, the principal of which may be invested in common with other funds of like character.  Net income from these funds shall be used for the benefit of the Saint Francis Memorial Hospital as determined by the Saint Francis Foundation’s Board of Directors.  If the income from the principal is not spent during the fiscal year income will revert back to the endowed fund.

Restricted Purposes Outright (no minimum)

I give _____________________(describe dollar amount or property given) to the Saint Francis Foundation, a California not for profit corporation with principal offices located at 900 Hyde Street, Suite 1208, San Francisco, California, to be used for the benefit of (description of department, service or program) at Saint Francis Memorial Hospital, San Francisco.  If in the judgment of the Board of Directors of the Saint Francis Foundation, giving consideration to my special interest described above, determines that it has become impossible or impractical to effectively apply the gift made hereunder to the restricted purpose specified (e.g., because a specified department, service or program no longer exists or its operation has been substantially reduced or changed), then the gift made hereunder shall be used where the need is greatest at Saint Francis Memorial Hospital, as determined by the Foundation’s Board of Directors.

Restricted Purposes Endowed (minimum gift $250,000)

I give  ____________________ (describe dollar amount or property given) to the Saint Francis Foundation, a California not-for-profit corporation with principal offices located at 900 Hyde Street, Suite 1208, San Francisco, California, to establish the  (insert name) FUND, to be held as a permanent fund constituting part of the Foundation’s general endowment funds, the principal of which may be invested in common with other funds of like character, provided that the identity of the FUND shall be preserved at all times.  Net income from these funds shall be used for the benefit of (state purpose or program) under applicable Saint Francis Memorial Hospital policy.  If in the judgment of the Board of Directors of the Saint Francis Foundation, changed circumstances should at some future time render the designated use of the fund no longer appropriate, the Board shall use distributions from the FUND to further the objectives and purposes of the Saint Francis Memorial Hospital, giving consideration to my special interest described above.  If the income from the principal is not spent during the fiscal year income will revert back to the endowed fund.