Charitable Remainder Trusts

A charitable remainder trust (CRT) is an irrevocable trust that generates a potential income stream for you, as the donor to the CRT, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities.

Two amazing and passionate individuals, Walter and Phyllis Anderson, worked with the Foundation to establish a charitable trust, which allowed them to extend their giving legacy beyond their lifetimes in support of their favorite causes. The North Shore Health Care Foundation and co-beneficiary North House Folk School are the recipients of the Walter N & Phyllis A Anderson Charitable Trust (link – read more about the Anderson’s – Donor Spotlight)

The trust may be a charitable lead annuity (fixed payments) or a charitable lead unitrust (fixed percentage).

What are the benefits of a charitable lead trust?

• Reduction in transfer tax on the amount passing to your heirs
• Appreciation in trust value passes to your heirs free of gift and estate tax

Control over when your heirs inherit trust assets

To learn more, please contact your attorney or accountant, or Executive Director Valerie Marasco Eliasen, 218-387-9076 or email NSHCF@boreal.org

Our Federal Identification Number (EIN) is 41-1694904

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Leave a Gift in Your Will

Gifts by will are one of NSHCF’s most important sources of support. Unrestricted gifts give us the greatest flexibility to use funds where they are most needed. 

You May Leave NSHCF:

• A stated dollar amount
• A percentage of your residual estate (what remains after gifts to loved ones and expenses have been paid), or
• A specific asset, such as securities, land or other marketable property

How to Name NSHCF In Your Will

Legal name: 
North Shore Health Care Foundation
Address: PO Box 454, Grand Marais, MN 55604
Federal tax ID#: 41-1694904

This sample language may be useful:

“I give and bequeath to North Shore Health Care Foundation , PO Box 454, Grand Marais, MN 55604, [the sum of __________ Dollars ($____)] [ _______ % of the rest, residue and remainder of my estate], to be used for its general charitable purposes.”

Notify NSHCF of Your Gift

We hope you’ll let us know when you have named NSHCF in your will or trust so that we can thank you and recognize you (if desired).

If you have questions, please contact: Executive Director Valerie Marasco Eliasen, 218-387-5700 or email NSHCF@boreal.org

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Donor Advised Funds

You can support the work of NSHCF through your donor-advised fund (DAF). DAFs can be easily set up through a community foundation or your financial institution to serve as a flexible charitable giving vehicle. For more information on how to establish a DAF, contact your local community foundation or financial advisor.

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Name the North Shore Health Care Foundation as a Beneficiary – IRA, Plans & Policies

Naming NSHCF on a retirement account or life insurance policy is a simple way to provide for NSHCF’s future without writing or re-writing your will.

Charitable Gifts That Provide Income

Charitable annuities and remainder trusts allow you to provide income for yourself or loved ones while supporting NSHCF’s vital work.

Name NSHCF as a Charity Beneficiary of IRA

Naming North Shore Health Care Foundation (NSHCF) as a beneficiary on your retirement account or life insurance policy is a simple and powerful way to support the work of the Foundation without changing your will or living trust. Beneficiary designation gifts pass directly to NSHCF without going through the probate process and go right to work to help us critical support to the health care and emergency services of Cook County MN.

Retirement Accounts

Many donors name NSHCF as a beneficiary of all or a specified percentage of their IRA, 401(k), 403(b), or other retirement plan. Individuals who inherit retirement plan assets are usually required to pay income tax on them, so they’re often considered among the best assets to leave to charity.

How to name NSHCF as a beneficiary on your retirement accounts:

Ask your retirement plan administrator or financial institution for a change of beneficiary form. Please list us as:

Legal Name: North Shore Health Care Foundation
Address: PO Box 454, Grand Marais, MN 55604
Federal Tax ID #: 41-1694904

Notify NSHCF of Your Gift

Please let us know when you’ve made a beneficiary designation for NSHCF so that we can thank you and include you in our Legacy Society.

Other ways to name NSHCF as a beneficiary…

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Bank and Investment Accounts & Commercial Annuities

You can leave a legacy by naming NSHCF as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account, or a commercial annuity. Check with your financial institution to see if this option is available to you.

Life Insurance Policies

If you have a life insurance policy that is no longer needed for your family, designating NSHCF as a beneficiary is a simple way to support our work.

Contact the North Shore Health Care Foundation at any time to schedule a Gift Planning consultation.