Ronald and Elaine Phillips
In a demonstration of their philanthropic spirit, Ronald and Elaine Phillips made a donation of real estate to help Lutheran Hospital. The Phillips Victorian style home, located in Ohio City, is an architectural gem. This community has a rich history and the Phillips are helping to pass on that history from one generation to the next.
Ron Phillips said “Lutheran Hospital is open to everyone in the community regardless of their ability to pay and this is our chance to help and give something back to the community that has nurtured us. Elaine and I believe we have this responsibility and with our donation everyone is a winner.”
More people are discovering the ease of donating property to help charities. As charities enhance existing community programs and expand services in response to emerging community needs, generous donors are responding to requests for donations such as real estate. The donation made by the Phillips is a classic example of how people can donate funds for the good of the community while creating a lifetime income.
The Phillips were aided by the Director of Gift Planning at the Community West Foundation who explained that “donors are encouraged to establish a gift that meets their individual needs and interests. A gift of real estate is an excellent alternative for a donor that cannot or does not want to manage and care for a property, or who does not want a large capital gain tax. In the Phillips case, Ron has just retired and they want to travel and have some fun. With the establishment of their charitable remainder trust, they will receive an income for life, and the Hospital will receive funds to help the community with its health care needs.