We're Devoted to Children

Bill and Katie Nixon

Bill and Katie Nixon

A devotion to children is one of the driving forces behind Bill and Katie Nixon's philanthropic giving. That devotion extends well beyond the classroom and into the expert care and services provided by Connecticut Children's Medical Center.

"We're devoted to children, both in the realm of education and in supporting Connecticut Children's," said Katie, a former teacher, independent consultant and director of Admissions at Renbrook School in West Hartford. Today, Katie works as Admissions Associate at Loomis Chaffee School while Bill, who taught science for almost 40 years, including 25 years at Renbrook, recently retired. 

The Bloomfield couple, who have often led educational conferences and workshops together throughout the years, will continue to impact the lives of children as part of Connecticut Children's Legacy Society, an organization whose members have included the Medical Center in their estate plans.

"Planned giving is a great way to know now what contributions will be made on our behalf in the future," Bill said. "It also ensures that our philanthropic dollars won't be diminished by estate taxes and because we have had the time to think carefully about this, our gift will be deliberate and reflect our commitment to Connecticut Children's."

Longtime supporters

Long before the hospital opened in 1996, the Nixons were introduced to Connecticut Children's through a friend who had invited them to a reception at her home. 

"The invitation was intriguing, as we had no idea a children's hospital was planned," Katie said. "We went and had such good discussions with the guests attending, we decided to get involved. I have been involved ever since-first on the Foundation Board and now on the Corporate Board."

Being involved, the Nixons say, has allowed them to stay connected to other parents and to show gratitude for their own child-daughter Frances-who began her own teaching career in Westport, Connecticut, this fall.

A "booster shot" of support

"As parents, we felt so moved hearing stories of parents who were enduring serious health issues with their child," Katie said. "Although our daughter was healthy, we were also aware as she was growing up that, at any moment, life can change and we could be dealing with illness or injury.

"Each and every time I am at the hospital and hear stories about the care that children receive there, I am reinvigorated and excited to be a part of it," Katie said. "Hearing the stories is like giving a 'booster shot' to our original motivation for regular and planned giving to the hospital. Added to that, as a Board member working with the management team, I have seen how beautifully this hospital is run."

Connecticut Children's benefits from planned gifts, as they help support important endowment and capital projects and allow the Medical Center to develop new programs and services in children's healthcare. Bequests, charitable gift annuities and charitable remainder or lead trusts are among the many planned giving options available.

"We are very excited about the future of this institution," Bill said.

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to Connecticut Children's Medical Center Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Connecticut Children's Medical Center Foundation, a nonprofit corporation currently located at Hartford, CT, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the Foundation where you agree to make a gift to the Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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