Making a Gift in Your Will

Honor a loved one by making a gift in your will to Vanderbilt University Medical Center. Whether it's through your estate or your IRA, your generosity will leave your mark on the future of health care.

Being part of the VUMC community

Making a gift in your will to Vanderbilt University Medical Center allows you to support the causes that are important in your life. And it's not about the amounts—it's about your commitment to making a difference for generations to come.

Here is suggested language to insert in your will. Please share it with your estate planning attorney as well:

I give the sum of $______ [or _____ percent of my estate] to the Vanderbilt University Medical Center, a not-for-profit corporation located at 1211 Medical Center Drive in Nashville, Tennessee, to be used for ...

You also can designate your gift for a specific purpose:

  • General purposes
  • Clinical research at Vanderbilt-Ingram Cancer Center
  • Monroe Carell Jr. Children's Hospital at Vanderbilt
  • Training of medical residents and fellows, and support of programs for residents and fellows
  • Medical research
  • Patient care
  • Any other areas of your choosing

As a partner in the Medical Center's mission, you can have full confidence knowing your gift will be used as you intend.

Honoring a loved one

Do you have someone in your family, living or deceased, with a connection to Vanderbilt University Medical Center? Someone who would have appreciated your support? You can honor the special people in your life by making a tribute gift in your will to Vanderbilt University Medical Center.

Interested in other easy and smart ways to give?

Naming the Medical Center as an IRA beneficiary

An Individual Retirement Account (IRA) is an ideal asset to use for gifts to the Medical Center. The Medical Center is tax exempt, so when it inherits part or all of an IRA, no income tax is due.

So how do you name Vanderbilt University Medical Center as a beneficiary of your IRA?

Here's what you need to know:

1. Contact your IRA or retirement plan administrator (TIAA, Fidelity Investments, Vanguard Group, Charles Schwab, for example). Ask for a beneficiary designation form, which can be mailed or completed online on the administrator's website.

2. How do you designate beneficiaries on the form? Here's an example: "Eighty percent to Mary Jones, my daughter; and 20 percent to Vanderbilt University Medical Center," or any combination you choose.

3. Your IRA administrator will ask for the Medical Center's address and federal taxpayer identification number (TIN), also known as an employer identification number (EIN) this is the Medical Center's social security number:

Vanderbilt University Medical Center
Trusts, Estates and Gift Planning
3322 West End Avenue, Suite 900
Nashville, Tennessee 37203-1197
Phone: (615) 343-3119
Tax ID number: 35-2528741

Using your IRA to make a gift now

If you are 70-and-a-half years old, you can make a gift from your IRA now. The Charitable IRA Rollover is the only way to take money from your IRA without paying income tax on the withdrawals.

You can instruct your IRA administrator (Fidelity Investments, Vanguard Group, Charles Schwab, for example) to directly transfer (rollover) money from your IRA to Vanderbilt University Medical Center; the administrator will mail a check directly to Vanderbilt.

Click here for the letter of instruction, and here are a few things to keep in mind:

  • You must be at least 70-and-a-half years old at the time of the transfer.
  • You owe NO income tax on the amount rolled over to the Medical Center.
  • The maximum amount per year is $100,000, but you can select any gift amount you like.
  • The money can't be used to cover event tickets or dinners.
  • You won't claim a charitable gift tax deduction since you are excluding the rollover amount from gross income.
  • The transfer can satisfy your Required Minimum Distribution obligation. (Check with your tax advisers before doing a rollover to see whether the rollover qualifies as your Required Minimum Distribution. Usually the first withdrawals from an IRA during a calendar year are treated as your Required Minimum Distribution, so if you have already made withdrawals this year, your charitable rollover may not count for your Required Minimum Distribution.)
  • Don't forget to tell us you are making a gift to the Medical Center using the IRA Rollover so we can acknowledge your generosity!

Making a gift that pays you income

If you are considering a deductible gift of $100,000 or more, you can receive annual income paid to you for life. We will set up this type of gift for you and you can support a purpose at the Medical Center that is important in your life.

The Medical Center uses a trust to hold and administer your gift and invests your money in a diversified portfolio of stocks and bonds. You are not charged any commissions or fees and will earn at least five percent annually on the amount in your trust for each year you are living. Any leftover amounts after your lifetime will support the program of your choice at Vanderbilt University Medical Center.

If you donate appreciated stock that you have owned for more than one year, you can save even more on taxes since you can avoid the capital gains tax upon the stock's transfer to the Medical Center.

Contact us

It is important to us that you are satisfied with your philanthropic giving at Vanderbilt University Medical Center. Since personal circumstances certainly vary, always consult your independent advisers before making your gift to the Medical Center. For questions or more information about making a gift in your will or using your IRA to give to the Medical Center, please contact us directly:

Timothy A. Kaltenbach, Esq.
Executive Director, Trusts, Estates and Gift Planning
Vanderbilt University Medical Center Development
3322 West End Avenue, Suite 900
Nashville, Tennessee 37203
Phone: (615) 343-3119

Bethany Alexander
Development Assistant
Vanderbilt University Medical Center Development
3322 West End Avenue, Suite 900
Nashville, Tennessee 37203
Phone: (615) 875-1722

Thank you for your interest in supporting Vanderbilt University Medical Center!