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Medcenter
One Foundation - Ways to Give
There
are several ways you can give to the Medcenter
One Foundation and help us change
and save lives!
This
type of gift creates the most immediate
economic benefit to the Foundation. The
gift can be made either in cash, stock or
property in which the Foundation assumes
total ownership. The donor can attach restrictions
on the use of the asset such as for a scholarship
fund or new building.
The
advantages to this kind of gift are:
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1.
Donor receives a current income tax
deduction.
2. Assets are removed from the donor's
gross taxable estate.
3. Gift may be given to the Foundation
immediately. |
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Bequests
are donations made through a will and are
distributed by your estate after your death.
More charitable gifts are made by bequests
than by any other method. You can make a
bequest for a specific amount, a specific
asset, or a percentage of your estate.
The
advantages to this type of gift are:
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1.
It is revocable during lifetime.
2. It is relatively inexpensive to set
up.
3. It provides a charitable gift without
losing use of the gift during your lifetime.
4. There is an unlimited charitable
deduction for your estate. |
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Life
insurance policies let you donate a substantial
amount in the future by making a series
of modest donations now. The most common
way to give using life insurance is to purchase
a new life insurance policy and name the
Foundation owner and beneficiary. You receive
a tax receipt and deduction for each premium
payment you make and, at the time of your
death, the Foundation receives the face
value of the policy.
The
advantages to this type of gift are:
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1.
The donor can make a large gift to charity
in the future for a small contribution
made presently.
2. Depending on the method used, the
donor can receive a current income tax
charitable deduction.
3. A gift of life insurance has no adverse
effects on the donor's estate.
4. Very little, if any, documentation
is required by the IRS. |
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A
charitable gift annuity is a life insurance
product that allows you to make an immediate
gift and receive income for life. Each payment
you receive is made up of a taxable interest
portion and a tax-free return of principal.
Depending
on your age, the rate of return can be from
around 5% to as high as 12%.
The
advantages to this type of gift are:
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1.
Charitable gift annuities are relatively
simple and easy to understand.
2. The Foundation receives a current
gift.
3. The donor will receive a predictable
income for life.
4. Capital gain is distributed over
the life of the annuity.
5. The donor will receive a tax-free
return of principal.
6. The donor will receive a current
income tax charitable deduction.
7. A charitable gift annuity can be
funded with relatively small amounts
of money. |
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The
Retained Life Estate contract allows a donor
to transfer title of donor's home or family
farm to the Foundation. The donor reserves
the right to the property during the donor's
lifetime and to receive all of the income
therefrom. Upon the death of the donor,
the home or farm becomes the property of
the Foundation.
The
advantages to this type of gift are:
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1.
You can receive income from the trust
during your lifetime.
2. You avoid any capital gains tax if
the property appreciated in value.
3. You get an immediate income tax deduction.
4. The property is not included in your
taxable estate at death. |
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Charitable
trusts are trusts in which some property
interest passes to a charity. Deductions
are available for gifts to charity for income
tax, gift tax and estate tax purposes. Charitable
trusts generally take the form of a charitable
lead annuity trust, charitable lead unitrust,
charitable remainder annuity trust or charitable
remainder unitrust.
The
advantages of remainder trusts are:
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1.
You can receive income from the trust
during your lifetime.
2. You can receive an immediate tax
deduction.
3. You can maintain control over the
property during your lifetime subject
to the trust's terms. |
The
advantages of lead trusts are:
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1.
You or your heirs can get the property
back at the end of the trust's term
of years.
2. You can receive a larger immediate
income tax deduction.
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