You Can Make a Lasting Impact
Serve Your Community and Shape the Future of Medicine
You can save lives and create brighter futures for people in need by including a gift to Bloodworks in your estate and financial plans. For 75 years, Bloodworks Northwest has served a critical role as the cornerstone of our region’s healthcare system. We are the partner of choice of 100 hospitals and a recognized leader in healthcare and biomedical research.
Our world-renowned team of researchers are leading the charge in personalized healthcare. Our innovations in medical care and treatment continue to transform the lives of hemophilia, burn, transplant, surgical and cancer patients – anyone who needs blood.
Together with our donors, volunteers, investors and community partners, we are working to provide the best care – every hour, every day, for everyone. Your legacy gift will drive new breakthroughs in research and ensure that a safe blood supply – something we cannot take for granted- is always available to patients in need- now, in an emergency, and in the future.
Make a Statement and an Impact
Legacy giving sends a strong message to your family and community about your values and how you would like to be remembered. These gifts are designed to provide maximum benefits for you and your family as you support the causes and charities closest to your hearts. Anyone can leave a legacy gift, even someone of modest means. Making a planned gift will not impact your current lifestyle or financial security and might even provide an additional source of income to you and your loved ones.
Gifts in Your Will or Trust
Making a gift to Bloodworks in your will or trust is the easiest and most popular way to support our lifesaving work. Your attorney can include the necessary language in your will, a codicil to your will or your revocable living trust. Here are suggested clauses to include, which you should review with your attorney:
Language for Specific Gifts of Money or Assets or a Portion of the Estate
I give, devise and bequeath [identify here a specific sum of money, a specific asset or portion of the residual estate] to Bloodworks, a 501(c)(3) public, nonprofit corporation of the State of Washington, located at 921 Terry Avenue, Seattle, WA 98104.
Language for Restricted Gifts: Supporting a Specific Program or Area of Need:
“I give, devise and bequeath [identify here a specific sum of money, a specific asset or portion of the residual estate] to Bloodworks, a 501(c)(3) public, non-profit corporation of the State of Washington, located at 921 Terry Avenue, Seattle, WA 98104. This bequest may be combined with Bloodwork’s other funds for purposes of investment and reinvestment and shall be used in support of [describe the general purpose, such as emergency preparedness, equipment or research].
If at any time in the judgment of the Board of Trustees it becomes impractical or impossible to carry out this purpose, then the Board of Trustees of Bloodworks may use this bequest for such other similar purposes as shall be determined to be consistent with my wishes and intentions.”
Beneficiary Designations: Future Gifts Made Easy
There are easy ways to support the future of Bloodworks without hiring an attorney. Make Bloodworks a partial or full beneficiary of a bank account, investment account, retirement plan, life insurance policy, donor advised fund or annuity. Upon your passing, assets in these accounts pass directly to Bloodworks without going through probate.
IRAs and Pension Plans
Naming Bloodworks as the beneficiary of your retirement plan eliminates burdensome income and estate taxes on that asset. Simply update the beneficiary designation form, which can be obtained from your plan administrator, and include our full legal name and address:
921 Terry Avenue, Seattle, WA 98104
Tax ID Number: 91-1019655
Under Charitable IRA Rollover rules, if you are 70 ½ or older, you may initiate a direct transfer of annual Required Minimum Distributions of retirement fund assets to support Bloodworks. Up to $100,000 will pass tax-free and is excluded from your gross income and AGI limits.
Gifts of Life Insurance
A gift of life insurance is an easy and convenient way to make a significant gift to Bloodworks at an affordable cost. If you have an existing policy that you no longer need, you can convert that asset into a lifesaving gift for in the community.
Donor Advised Funds
Name Bloodworks the charitable beneficiary of the assets remaining in your donor advised fund simply by updating your successor designation on the account information form.
Avoid Capital Gains Tax and Receive Income for Life
Some gifts are designed to provide significant benefits for both Bloodworks and the donor. A charitable remainder trust is a great example of this, as it allows you to avoid or defer capital gains taxes while receiving annual income. Benefits include: an immediate income tax deduction, the ability to convert highly appreciated and underperforming assets into an income stream, a reduction of your estate taxes and the opportunity to provide significant financial support to positively impact lives in your community.
A charitable gift annuity, one of the most popular lifetime income gifts, provides you with an additional income stream of predictable annual payments, as well as income and capital gains tax savings.
Give to Support Your Charity and Your Children
A charitable lead trust enables you to pass assets to your heirs at a reduced tax cost by making intervening payments to a charity like Bloodworks. The lead trust holds appreciating assets for your lifetime or for a term of years, and pays an annual gift to Bloodworks. Bloodworks and the community will benefit from the payouts from the trust while your family enjoys several tax advantages.
Give Your Home While You Continue To Enjoy It
Through a retained life estate, you can gift your home, vacation home or farm to Bloodworks, receive a sizeable tax deduction and continue to live in or use the property for the rest of your life. Like all gifts of real estate, we must review and approve the transfer ahead of time.
Tribute and Memorial Gifts
Honor a special person in your life with a gift that allows Bloodworks to save and enhance lives in their name.
This information does not constitute legal or tax advice. Please consult your professional advisor to discuss the most beneficial way to structure a gift in your specific situation.
Thank you for your interest in opportunities to support Bloodworks through an asset or estate gift. To learn more, please contact: