Assets to give
Gifts of cash
A gift by check is the most common and convenient way to give to Hallmark Health. Gifts may be made outright or pledged over a period of up to five years. Checks should be made payable to Hallmark Health. If you prefer, you may charge your gift through MasterCard or Visa. If you itemize your tax deductions, your gift is fully deductible up to 50% of your adjusted gross income. Any excess may be carried forward for up to five additional years. If you wish to designate the use of your gift, you may do so at the time you make the gift by enclosing a brief note.
Gifts of appreciated securities
A gift of appreciated securities such as stocks, mutual funds, and bonds can provide attractive benefits. An outright gift of long-term appreciated securities (securities held for more than a year) avoids capital gains taxes and in most cases, the donor obtains a charitable income tax deduction equal to the market value of the securities. For gifts of property, your gift is fully deductible for up to 30% of your adjusted gross income and, like gifts of cash, may be carried forward for five additional years.
Gifts of real estate
You can make a gift of commercial or residential real estate to Hallmark Health and receive substantial financial benefits. You may want to give the property outright to support Hallmark Health and qualify for a charitable income tax deduction based on the appraised value of the property. Additionally, you may use a home or land you no longer want or need to fund a life income gift. A retained life estate allows a donor making an outright gift of a personal residence to retain the right to live in the home for life, while still enjoying substantial financial benefits.
Gifts of retirement plans
Gifting qualified retirement plan assets such as 401(K), 403(b), Keogh or pension plan is another way to benefit Hallmark Health and receive significant tax savings. Retirement plan assets are often subject to high estate taxes, and the income is fully taxable when received by an individual beneficiary. By naming Hallmark Health as the beneficiary of your retirement plan; you maintain complete control over the assets during you lifetime. Upon death, the plan passes to Hallmark Health free from both estate and income taxes.
Gifts of life insurance
Donors can use life insurance to make a gift by naming Hallmark Health as the owner and beneficiary of a life insurance policy. A donor receives a charitable income tax deduction based on the lesser of the policies fair market value or the net premiums paid. Donors may make gifts of paid-up policies, resulting in a charitable income tax deduction for the policy's cash surrender value.
Gifts of personal property
Donors can make gifts of tangible personal property, such as art, books, antiques and collections to Hallmark Health. A donor's charitable income tax deduction is based on the "related use" of the property, which means that if the property is related to the Hallmark Health's exempt purposes the donor can take a charitable income tax deduction for the full fair market value of the property, up to 30% of the donor's adjusted gross income. If the property is unrelated to the exempt purposes of the charity, the donor can deduct the cost basis of the property. All gifts of tangible personal property must first be approved and accepted by Hallmark Health.
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Wednesday, April 22 2015 12:30