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WAYS
TO SUPPORT HOSPICE SAVANNAH FOUNDATION, INC.
A variety of gift options are available to those who wish to support Hospice Savannah. Each is designed to offer a means by which both the donor and the Hospice Savannah can benefit from an act of charitable giving.
1. Cash
a. Personal Property: In most cases, a gift
of tangible personal property, such as paintings, antiques,
books, artifacts, jewelry or stamps, results in a charitable
deduction. The donor may also eliminate the potential capital
gains tax on the property’s appreciation.
b.
Appreciated Property: It is often an advantage to
contribute appreciated property rather than cash. Securities,
homes, land, personal property and other assets make ideal gifts.
By donating gifts of appreciated property, the donor may eliminate
capital gains tax and receives a charitable deduction based
on the full market value of the gift.
c.
Bargain Sale: The gift in sale of some assets to the
Hospice Savannah that are less than the asset’s fair market
value is permitted and may be advantageous. The gift to the
Hospice Savannah is the difference between the cost and fair
market value and what the asset sold for. Such a gift is eligible
for a charitable deduction. However, because sales most often
involve appreciated property, the usual percentage limitation
of the charitable deduction is 30%.
2. Special Giving Programs
a. Memorial or Living Tribute Gifts: If there
is a loss of a family member, friend, or associate, or when
there is a special individual or occasion to honor, a thoughtful
gift to the Hospice Savannah is truly meaningful. It demonstrates
the donor’s depth of concern and it benefits others by continuing
our mission.
b.
Endowment/Named Fund: Donors who establish a named
fund or endowment may insure the future as well as the present
success of the Hospice Savannah. This is a fund for a specific
purpose, as stated by the donor and accepted by the Foundation.
They offer the donor the satisfaction of knowing that their
gift will continue working for generations to come. In addition,
an endowment presents the opportunity to memorialize one’s own
affection for Hospice Savannah, or to honor a family member
or other individual who has made a significant contribution.
A minimum amount of $25,000 is required to establish
an endowment, however, you may donate any amount to any existing
endowment fund.
Click
Here for the list of donors
3. Deferred Giving Programs
a. Outright Bequest: This is the most popular
way of making a Deferred gift to the Hospice Savannah Foundation.
Such a bequest through a Will may be expressed in terms of either
a specific sum or a percentage of residuary of the estate.
b.
Charitable Gift Annuity: This is an agreement between
the donor and the Hospice Savannah Foundation, under which the
donor gives a specific sum of cash, appreciated securities or
other property. In return, the donor is guaranteed a fixed annual
income for life. Part of the transfer is treated as a gift to
the Hospice Savannah Foundation, providing tax benefits to the
donor.
c.
Gifts of Life Insurance: A life insurance gift generates
substantial current tax savings. The donor receives an income
tax charitable deduction when making a gift of a life insurance
policy by naming the Hospice Savannah Foundation as the beneficiary
and transferring ownership to the Hospice Savannah Foundation.
d.
Charitable Remainder Unitrust: This Unitrust may be
established by irrevocably transferring assets to a trust, which
then pays income to the donor and/or other named beneficiaries,
either for life or for a period of time not to exceed twenty
years. Upon the death of the last surviving beneficiary, or
at the expiration of the established time period, the trust
assets are used for the purpose designated when the trust was
created. The donor may select a trustee to manage the trust.
Charitable Remainder Annuity: Similar to the Unitrust except
that it pays the donor an amount determined when the Trust is
established. This type of trust carries all the same income
and tax advantages as a Charitable Remainder Unitrust.
e. Charitable Lead Trust: The opposite of the
Charitable Remainder Trust in that the Hospice Savannah Foundation
receives a gift of income rather than principle. The income
is payable at least annually for a certain term of years, or
the life of lives of individuals living at the date of transfer
after which time the property reverts to the donor or passes
to beneficiaries designated by the donor.
f. Revocable Charitable Trust: If a donor believes
in the mission of the Hospice Savannah Foundation, but does
not wish to make an irrevocable gift, the donor may want to
consider a Revocable Charitable Trust. The donor, who will receive
income for life, can revoke the trust or change its terms, can
add to it or withdraw some or all of the trust assets. The assets
in the trust at death (if it has not been revoked) will belong
to the Hospice Savannah Foundation.
g. Gifts of Personal Property: Persons who
own a home may, under a Retained Life Estate plan, give the
property to the Hospice Savannah Foundation and receive the
benefit of a current charitable income tax deduction yet continue
to use the property for the duration of their lives. A survivor
can also enjoy life occupancy. The amount of the donor’s tax
savings depends on their age and the value of the home.
To discuss your options further, please contact the Office of Development at
(912) 355-2289 or via email at dmobley@hospicesavannah.org.
For instructions on how to make a donation to support Hospice
Savannah, please click here.
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