Learning New Ways to Give
Learning New Ways to Give
David Gerstman, MD
David Gerstman, MD, embodies the term “lifelong learner.” While supporting his family as a radiologist, he went back to school to obtain his law degree. In retirement, he completed his MBA. It’s not just book knowledge that he seeks. The desire to learn permeates his entire life — even his charitable giving.
“I choose to give to National Jewish Health now — instead of through my will — because it keeps me more involved in the organization,” David says. “I get regular updates on the work the hospital is doing and attend educational webinars hosted by the doctors.”
David supports the work of National Jewish Health because the care and research improves lives every day. Severe asthma and allergies hampered, and even shortened, his brother’s life. The two of them talked at length over the years at how his life would have been different had he received care from National Jewish Health early in life. David doesn’t want anyone else to miss the opportunity for expert care; thus he is honoring his brother and creating a legacy by giving to National Jewish Health.
His preferred method of donating is through charitable gift annuities (CGAs), an agreement between him and National Jewish Health in which he makes a gift now, and in return, the hospital agrees to pay him a fixed amount each year for the rest of his life.
“The yearly payout allows me to support the hospital without deducting from my lifestyle,” he says. “If I make enough from the payouts and like what the organization has done with my donation, I will invest in another CGA.”
He says CGAs allow him to see the benefit of his philanthropy, pay forward the help he has received over the years and avoid the legal fees and some of the taxes that would be levied if he held on to the cash and donated it in his will.
In addition to supporting National Jewish Health while maintaining his lifestyle, David believes CGAs have a psychological benefit as well.
“Continuing to learn from National Jewish Health and seeing the good work that I am supporting enhances the value of my life,” he says, “and the regular payouts encourage me to stay healthy and live as long as I can so I continue receiving them. I have found that I am healthier and happier since donating through CGAs.”
Discover Your Benefits From a CGA
We would be happy to create a personalized calculation of the benefits you can receive when you create a CGA through National Jewish Health. Contact Gordon P. Smith, MBA, CFRE at 1.800.423.8891, Ext. 6549 or smithgo@njhealth.org to learn more.
Information contained herein was accurate at the time of posting. 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 any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: 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. Oklahoma residents: 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. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.