At CHMC Foundation, we appreciate your charitable donations, whether large or small. We offer two types of charitable contributions to fit your family's budget: outright and deferred gifts.
Outright gifts: Immediate charitable donations
Outright gifts involve the immediate transfer of resources from your family to the Claxton-Hepburn Medical Center. They come in four basic forms:
- Immediate gifts of cash. The simplest way to make a gift is to write a check made payable to "Claxton-Hepburn Medical Center Foundation" or make a cash gift online.
- Periodic gifts of cash. If you are interested in making a larger gift over time, you can make a multiyear pledge to donate via cash or credit card.
- Gifts of securities. We accept charitable donations in the form of stocks and bonds.
- Gifts of real estate. Although gifts of real estate offer great potential benefit, they also come with financial risks to our organization. We evaluate these gifts on a case-by-case basis.
Planned gifts: Delayed charitable donations
This form of charitable giving involves laying plans for your estate, so the funds will change hands at a later date. Deferred or planned giving may take many forms, depending on the personal, financial or estate plans of the donor. And they may provide significant financial advantages, as they could allow you to make a much larger gift than you might if you were to choose an immediate charitable donation.
The most common form of planned giving is a bequest in a donor's will. Other planned gifts may include life insurance or retirement assets. Some planned gifts, such as a charitable gift annuity or charitable remainder trust, may return income to donors or other beneficiaries during their lifetime.
Charitable giving helps you too
Charitable gifts come often with tax benefits:
- Cash gifts. You may deduct gifts of cash up to 50 percent of your adjusted gross income in any one year, and you may carry forward any excess deduction for up to five years. A gift of cash is considered completed on the date it is hand-delivered or mailed.
- Appreciated property gifts. For stocks, bonds and other appreciated gifts, you may deduct the fair market value of the property at the time of the gift and at the same time avoid capital gains tax on the appreciated value. You may deduct the value of appreciated property up to 30 percent of your adjusted gross income in the year of the gift, and you may carry forward any excess deduction for up to five years.
- Real estate gifts. These charitable donations are tax-deductible at the fair market value of the property, as determined by an independent appraiser, for up to 30 percent of adjusted gross income and with a five-year carry forward. A donor is not generally liable for capital gains taxes. However, if the property is sold within two years of the gift, the charitable deduction is limited to the sale price.
Creating your giving plan
Please call us at 315.393.9175. We'd be glad to discuss ways to tailor a gift that will best meet your interests and circumstances.
Whether outright or planned, your gift may offer important financial advantages to you or to your heirs or beneficiaries. So, it is important that you talk with your financial or legal advisor before making any major gift commitment.
And remember: Some businesses also offer matching gift programs. Those plans could help you double or triple the value of your gift. Talk with us to find out more.