As professional educators, Bob and Bonnie Jinkens care deeply about helping others. Bob earned his PhD and spent his 40-year career as a professor of finance and accounting at the university level all over the U.S. and overseas. Bonnie worked as a paralegal before pursuing her passion for education. She taught kindergarten and the primary grades for the Long Beach Unified School District for 20 years. While Bob and Bonnie have both retired from the profession, their commitment to doing good remains. Their recent gift to Hoag reflects that.
Smart Giving
The Jinkens, who love living near the water and taking their boat out on the bay, have owned their Balboa Island duplex for nearly 50 years. In considering their estate and retirement plans, it was important to Bob and Bonnie to supplement their teachers' retirement with additional income while continuing to live in their home. They also wanted to support a charitable organization that was meaningful to them.
A planned gift to Hoag allowed the Jinkens to accomplish each of these goals. They established a retained life estate with a charitable gift annuity by gifting their duplex to Hoag. The gift enables them to retain full use of their property during their lifetime, including renting out the second unit, and receive a fixed income stream from the charitable gift annuity. "The gift helps us while helping Hoag," Bob describes. "As a CPA, I feel very good about the tax advantages of this type of charitable gift. It's a win-win."
Doing the Most Good
Bob suffered from various health issues when he was young, and as a result, he spent much time in the hospital as a child. The experience instilled a deep sense of empathy for others in need of hospitalization and a desire to support advances in health care. In sharing why they chose to support Hoag with their gift, Bonnie shares: "We have both been patients at Hoag and feel the care is extraordinary. They care about you not just as a patient but overall-it's a family feeling. We know that at Hoag, we're getting the very best."
The Jinkens designated their life estate gift to support Hoag's greatest need. "We have a lot of faith in Hoag and trust them to use our contribution where it will do the most good," Bob says. "There are a lot of good charities and hospitals out there, but not all of them can do what Hoag does."
