Myra Brookfield

Continuing a Vision for Care Close to Home

125th Anniversary Steering Committee

Members of the 125th Anniversary Steering Committee of Morristown Medical Center recently honored Miss Myra Brookfield, whose initial gift established the hospital.

For 125 years, Morristown Medical Center has focused on providing exceptional care close to home. That vision began with the generosity of one inspirational supporter: Miss Myra Brookfield.

In her will, Miss Brookfield donated her home on DeHart Street to establish the hospital. Before Morristown Memorial Hospital was incorporated in 1892, residents who needed advanced care had to travel to New York City or the Oranges for treatment. Miss Brookfield envisioned a hospital closer to home.

As part of the arrangement, Miss Brookfield directed that her fellow residents raise an additional $15,000 for equipment and furnishings within three years — a deadline they met with a townwide fundraiser.

Members of the 125th Anniversary Steering Committee of Morristown Medical Center recently dedicated a historical plaque and grave marker at Morristown’s Evergreen Cemetery to recognize Miss Brookfield’s contributions to the community.

Myra Brookfield

Myra Brookfield generously donated her home to establish what is now Morristown Medical Center.

You Can Be an Inspiration

We continue to strengthen Miss Brookfield’s vision and encourage you to celebrate the hospital’s anniversary by following in her footsteps. Just as she involved the community to support the hospital, we are turning to friends like you to join our Legacy Challenge in honor of the hospital’s important milestone.

We have money set aside for 13 more supporters to take advantage of this special opportunity by making a new or additional planned gift to the Foundation for Morristown Medical Center this year. In return, the Foundation will designate, on your behalf, $5,000 to the hospital area of your choice.

By making your gift, you join our Brookfield Legacy Society and continue the tradition of excellence that began 125 years ago with one woman’s vision.

Contact Cynthia W. O'Donnell, JD at 973.593.2418 or cynthia.odonnell@atlantichealth.org to learn more about this challenge.

A charitable bequest is one or two sentences in your will or living trust that leave to the Foundation for Morristown Medical Center 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 the Foundation for Morristown Medical Center, a nonprofit corporation currently located at 475 South Street, Morristown, NJ 07960, 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 Morristown Medical Center 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Morristown Medical Center as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Morristown Medical Center 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 Morristown Medical Center where you agree to make a gift to Morristown Medical Center 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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