Each year it is the generous spirit of friends that makes our work possible. And while giving may seem a straight forward discussion, there are many ways that friends choose to make a gift. Some careful planning will ensure that your objectives are met. Here is an overview of some of the most common ways to make a gift and the benefits of each.
The most common way to make an immediate gift is by writing a check. This type of cash gift provides immediate liquidity for charity and generates a charitable income tax deduction for the donor in the year of the gift.
Giving stocks or bonds may provide greater tax benefits. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value.
A gift of real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation.
Selected artwork, books and antiques are examples of gifts of personal property that can, in certain situations, be an appropriate gift. However, to ensure that any tangible personal property qualifies for a favorable charitable tax deduction, contact our Office of Planned Giving prior to making a gift.
The Perfect Gift: A Planned Gift
The beauty of a planned gift is that the actual giving ocurs after your lifetime, so your current income isn't affected.
One popular option includes remembering PeaceHealth Cottage Grove Community Medical Center in your will. You can complete the gift with as little as one sentence, and because you're not giving away any assets until after your lifetime, you're free to change your mind at any time.
A gift in your will ensures that your family members hav the resources they need now and that your community has the resources it needs in the future to provide compassionate care for all. And you enjoy peace of mind knowing that our healing mission is part of your legacy.
Click here to learn more about Leaving a Legacy through planned gifts.
For more information contact:
Jessica Baker, Foundation Relations Specialist
Cottage Grove Community Medical Center Foundation
1515 Village Drive
Cottage Grove, OR 97424