The AORN Foundation and the Legacy of Leadership - Brief Article

AORN Journal, August, 2001

When we leave a legacy to benefit others, we leave a powerful message that will be heard for decades. A growing number of perioperative nurses have chosen a special way to donate to the AORN Foundation--through a planned gift that reflects the ideals, values, and beliefs that are important to them. Such generosity clearly is a sign of dedication to the perioperative nursing profession and a commitment to the public's well-being.

There are many ways that you can do this, including creating a charitable or remainder trust or a charitable gift annuity that can provide income to you and your family members, as well as a lasting gift to AORN. You can provide life insurance policies that name AORN as a beneficiary, or you can specify a gift in your last will and testament. Among the various ways to leave your legacy, there may be some vehicles especially suited to your wishes.

ASSISTANCE WITH WEALTH PLANNING

Many AORN members are planning for retirement and investigating ways to preserve their estates. To assist members with these preparations and demonstrate how preserving the value of one's estate also can benefit AORN, the Foundation has secured the services of Peter Tedstrom, a nationally recognized family wealth counselor and author.(1) Tedstrom, along with Mirenda & Associates, a national fund-raising consulting firm located in Denver, worked with the Foundation to develop an estate planning program that integrates family wealth planning and philanthropy.

Tedstrom helped inaugurate the AORN Foundation's Legacy of Leadership at the 2001 Congress in Dallas. Legacy of Leadership is a planned giving program that enables contributors to leave their own legacy in honor of AORN and perioperarive nursing through wills, annuities, trusts, life insurance, and other vehicles. During Congress, Tedstrom gave a presentation on estate planning that demonstrated how these financial vehicles can benefit an individual's family members and loved ones, as well as AORN and perioperative nursing.

The first step in Tedstrom's four-step plan is selecting a professional advisor, a person who has experience and a proven track record. The second step is to write down your goals and objectives; these may include ensuring that your heirs and beneficiaries are cared for, preserving the value of your estate, and being remembered for your actions. The third step is to take an inventory of your assets and debts; often we overlook assets, such as life insurance policies and retirement benefits. The fourth step is to develop and implement your plan. This combines the previous three steps and forms the basis for maximizing your personal and social capital. Directing a portion of your estate to your chosen charity actually can reduce your taxable estate.

Tedstrom has presented this program at AORN state council meetings and to other AORN groups. His ability to make complex terms and complicated regulations more understandable is especially valuable.

Frequently asked questions and comments include, "Is it worthwhile for me to give to the Foundation?--I don't have a lot of money," or "I don't have an estate--that's for millionaires." These are common reactions and probably represent the greatest challenge facing the AORN Foundation. It is important to realize that you do not have to be a millionaire to help others and at the same time leave your own legacy. Consider how often you give to various charities. Those charities, like the AORN Foundation, know that any gift is valuable.

DONATIONS FROM AORN MEMBERS

One of the most significant trends seen by the AORN Foundation is an increase in the number and percentage of donations from AORN members. This is a trend we would like to see reflected in our planned giving. Many nurses already have included AORN in their wills or made AORN the beneficiary of life insurance policies, and many more have expressed an interest in making a bequest to AORN. The Foundation would like to recognize these generous individuals who serve as charter members of the Legacy of Leadership. Charter members will receive a certificate and a pin designed in the shape of a branching tree to commemorate their gift.

We encourage those individuals who would like to leave a legacy to AORN to meet with their personal financial advisor to make the best decision. The AORN Foundation offers helpful information on wills, annuities, trusts, life insurance, and other opportunities to guide individuals. Call the Foundation at (800) 755-2676 x 366, or check AORN's web site at http://www .aorn.org/foundation for information on leaving your own legacy. Information about estate planning, pledge cards, and brochures is available. Brochures available include

* AORN Planned Giving: Legacy of Leadership,

* Charitable Gift Annuities,

* Gifts of Life Insurance,

* Your Guide to Making a Will, and

* Your Guide to a Better Will.

Albert Einstein captured the true spirit of philanthropy when he wrote that "the value of a man ... should be seen in what he gives and not in what he is able to receive."(2) He also describes our desire to do something worthwhile and to leave this world a better place than we found it. This is the essence of the Legacy of Leadership--educating a new generation, strengthening perioperative nursing, and advocating for our patients.