Everyone Benefits From Beneficiary Designations
When Nancy Larsson returned to the Bay Area 25 years ago, she wanted to volunteer where the need was greatest. So, she joined the Association of Auxiliaries for Children, a group of philanthropists and volunteers who support children and families receiving care at Lucile Packard Children’s Hospital Stanford.
“My knowledge of Packard Children’s Hospital was pretty minimal,” Nancy says. “But once you get involved, you realize just how important this institution is to our community, locally and beyond.”
Nancy went on to serve as president of the Association of Auxiliaries and on the board of directors for the Lucile Packard Foundation for Children’s Health. After stepping down from both roles, Nancy joined the committee for the Auxiliaries Endowment, a fund that has grown to over $34 million and gives out roughly $1 million each year to support crucial programs and services throughout our hospital.
Nancy and her husband, Peter, also make regular gifts to Packard Children’s and host an annual garden party to inspire others to give. Years ago, the couple realized they could take advantage of an easy way to donate: naming the Foundation as a beneficiary of their individual retirement accounts (IRAs).
“We figured we could do more by giving as part of our estate,” Peter says. “It’s a very tax-effective way of doing it.”
Neither the Larssons nor their children will have to pay taxes on the funds, and when they pass, the money will go directly to the cause they care so passionately about.
“Those of us who participate in the Endowment get to be ‘angel investors’ in so many projects,” says Nancy, referring to how the Auxiliaries Endowment often provides seed money to help new programs get started and secure additional funding. “It makes you feel like you’re a part of each project’s success as opposed to just giving. And that, I think, is very rewarding.”
To learn more about how we can assist you in achieving your charitable goals, reach out to the Gift Planning team.
