Making A Charitible Donation

There Are Numerous Ways To Make A Charitable Donation:

 

Cash

A gift made by cash or by personal check is one of the most popular ways to make a gift to Pawnee Valley Community Hospital Foundation. With your gift you will receive a full tax benefit if you itemize deductions. Checks should be made payable to the Pawnee Valley Community Hospital Foundation.

 

Appreciated Stock

Your gift of appreciated marketable stocks or mutual fund shares will provide a significant benefit to Pawnee Valley Community Hospital Foundation and healthcare in Pawnee County with the potential of offering you important tax benefits.  Consider transferring them to Pawnee Valley Community Hospital Foundation. With this gift you will not incur sales expenses and you will not generate a taxable capital gain.

If your securities have decreased in value since you acquired them, it may be to your advantage to sell them, report the capital loss deduction and donate the proceeds.

If you hold highly appreciated but low-yield stocks, consider using them to fund a charitable remainder trust or a charitable gift annuity at Pawnee Valley Community Hospital Foundation. You can receive a long-term income stream while minimizing your taxable capital gains.

For information on transferring stock or shares of a mutual fund, please contact the Foundation office at 620-285-8840 or email mark.lessard@haysmed.com.

Real Estate

Thinking of selling your home, commercial building, or investment property? Enjoy tax benefits, and generate income while helping Pawnee Valley Community Hospital Foundation advance quality health care in Pawnee County by making a gift of real estate.

A concern of real estate owners with property that has significantly appreciated in value is that much of their profit from a sale will be consumed by capital gains taxes. If this describes your situ­ation, you may want to consider making a char­itable gift of your real estate instead of selling it. By giving property to Pawnee Valley Community Hospital Foundation, you will not have to pay capital gains tax, you may be able to take a substantial income tax deduction, you may choose to receive income for life, and you will have the satisfaction of providing signifi­cant support advancing quality health care.

Another good way to take advantage of appreciated value of your home or farm is to enter into a life estate agreement with the Foundation. You continue to use the property throughout your lifetime, receive an immediate tax deduction and avoid taxation on gains in addition to reducing possible estate taxes.  The work of Pawnee Valley Community Hospital Foundation benefits from the ultimate use or sale of the property.

Personal Property

A gift of personal property is a way to make a difference at Pawnee Valley Community Hospital at little cost. If you donate a work of art, mineral interests or other tangible personal property that can be used or sold by the Foundation, you can take a charitable deduction and reduce future estate taxes

 

Endowed Funds

Gifts to Pawnee Valley Community Hospital Foundation may be directed to an endowed fund gift.  And endowed fund is an enduring legacy that ensures long-term quality health care at Pawnee Valley Community Hospital and provides consistent revenue streams to support Pawnee Valley Community Hospital departments and programs, today and in the future.  Endowed funds are perpetual with the corpus invested and only the income spent in the areas as directed.  Over time, monies available to the program will increase and may exceed annual gifts.  A gift of $10,000 which can be spread over three years, will establish an endowed fund.

Contact the Foundation Office at (620) 285-8840 for more information regarding endowed funds.

 

Planned Gifts

 

Wills

Need to preserve your assets during your lifetime?  Making a gift through your will to Pawnee Valley Community Hospital Foundation provides you with control of your assets throughout your lifetime and becomes an ultimate gift to benefit health care in Pawnee County. Consider naming Pawnee Valley Community Hospital Foundation to receive a certain amount, percentage or to receive the “residue” of your estate. There are no immediate tax advantages although a bequest may reduce estate taxes if applicable.

Below is the wording to use to include a charitable bequest for PVCH Foundation:

“I give and bequeath [specific amount, percentage or residue of the estate] to Pawnee Valley Community Hospital Foundation, a corporation organized and existing under the laws of the State of Kansas and having an office at Larned, Kansas, for its general purposes. All charitable gifts, bequests and devises should be made to the extent possible from assets that constitute income in respect of a decedent as that term is defined in the Internal Revenue Code.”

 

Retirement Plans

A tax-deferred retirement plan [IRA, 401(k), 403(b), Keogh, etc.] is an excellent way to provide for retirement years, and reflects wise financial planning. However, much of the remaining principal value can be highly taxed upon death when a natural heir or other person is named as a beneficiary. Donors who select the Foundation as the beneficiary avoid those taxes, and can leave other, lower-taxed assets to family members. Your plan administrator can provide the beneficiary designation forms needed.

 

U.S. Savings Bonds

Bonds are ideal assets to bequeath to the Foundation because, like qualified retirement plans, they are subject to income taxes in the hands of those who inherit them—unless they are given to charity.

 

Life Insurance

You don’t need a large estate to make a significant gift.  A current or new life insurance policy can be an ideal asset for funding a charitable gift larger than you might have thought possible. There are several options you can consider:

  • Name Pawnee Valley Community Hospital Foundation as beneficiary

Naming Pawnee Valley Community Hospital Foundation as the primary or contingent beneficiary of a life insurance policy is easy to do. Simply request a beneficiary designation form from your life insurance company and name Pawnee Valley Community Hospital Foundation as beneficiary. If, in the future, your personal or family needs change, you can always replace the named beneficiary with a new one.

  • Transfer ownership of an existing policy to Pawnee Valley Community Hospital Foundation

You may have a life insurance policy that you simply no longer need. If you have paid all premiums owed (a paid-up policy), or you’ve paid all premiums due and more will be owed in the future (a partially paid-up policy), you might consider transferring ownership of the policy to Pawnee Valley Community Hospital Foundation.

If you make the Foundation the owner, you can claim a charitable income tax deduction. The deduction will be equal to the policy’s replacement value or its basis, whichever is less. If premium payments are still owed (a partially paid-up policy), and you make annual cash gifts to the Foundation equal to the premium amounts as they become due, you will be entitled to an income tax deduction equal to each of those premium payments.

  • Make the gift of a new policy to Pawnee Valley Community Hospital Foundation.

Another option to consider is taking out a new policy making the Pawnee Valley Community Hospital Foundation the policy owner and beneficiary. Your annual gifts to the Foundation will be applied to premium payments and will entitle you to charitable income tax deductions for those gifts.

 

Life Income Gifts

These attractive charitable giving options provide donors (and/or others) with a life income or other benefits. These gifts specify the Foundation as the ultimate charitable beneficiary. Such gifts can take several forms:

With a charitable gift annuity, the donor transfers cash or other liquid assets, such as stocks and bonds, to the Foundation in exchange for regular payments for life. The amount of each payment is determined, in part, by the donor’s age at the time the annuity agreement is established. The older the designated annuitants are at the time of the gift, the greater the fixed income the Foundation can agree to pay. In addition, a portion of the income may be tax-free.

  • Charitable remainder trusts pay the donor or a beneficiary on an annual basis for a fixed number of years, or for life. A charitable remainder annuity trust pays the beneficiary a fixed amount annually, regardless of the trust’s investment performance. In a charitable remainder unitrust, the donor receives a set percentage (determined at the outset depending on personal needs and situation) of the value of the trust assets. This value is re-determined each year, providing the donor with protection against inflation. In both trust types, the remainder of the trust may be given to the Foundation.

 

  • Charitable lead trusts provide specific income to the Foundation for a set number of years, then return all trust assets to the named beneficiary. These trusts make it possible for donors to reduce the size of their estates, while passing assets to the next generation and benefiting the Center.