The following descriptions illustrate
alternative methods available to all donors
in making their contribution decisions in
support of Meadville Medical Center (MMC)
and Community Health Services (CHS). Many of
these methods involve tax considerations; we
suggest you consult your accountant, tax
attorney or financial advisor prior to
making your final decisions. You may also
call the Foundation Office for more details
regarding any of these gift plans. The
number is (814) 333-5935.
Cash
Most gifts to Meadville Medical Center
Foundation are made using cash (usually by
check) taken form earned income sources. IRS
allows tax deductions for such gifts up to
50% of adjusted gross income for individuals
(who itemize) and up to 10% of net income
before taxes for corporations.
Gifts of
Securities
An alternative to #1 is to transfer
ownership of a capital asset (such as stocks
or bonds) to the Foundation rather than sell
them outright. Your broker can provide this
service. This method is important when the
asset has been owned for 12 months or more,
has appreciated in value and will be subject
to capital gains taxes if sold. When given
to the Foundation outright, the total value
of the asset, established as of the date the
gift is made, is fully deductible. Neither
the donor nor the Foundation is required to
pay capital gain taxes if the security is
sold.
Gifts of
Real Property
Another type of gift for the Foundation is
real property (homes, condominiums, vacation
homes, land, farmland and commercial
property). The value for income tax
deduction purposes is based on an appraisal
prepared by a qualified professional. A
partial gift, partial sale is called a
"bargain sale" and consists of the
Foundation purchasing property at a price
less than the appraised price. The ability
of the Foundation to sell the property or
for MMC or CHS to utilize it in fulfilling
its own tax-exempt purposes will be
considered in gifts of this nature.
Family
Gift--As a Group
The members of a family may elect to make a
group contribution or individual multi-year
pledges (adding to a set amount) to the MMC
Foundation. This method is most often used
when individuals wish to honor a family
member or make a gift of a certain size in
memory of a deceased family member.
Corporate
Gift or Gift from a Corporate Foundation
Any corporation, business, firm, partnership
or private corporation may make a gift to
the MMC Foundation using corporate funds,
and take a deduction for such a gift for up
to 10% of net income before taxes. In the
case of closely held companies, individual
owners may make a gift of their personal
shares in the business. These shares may be
sold later by the Foundation at their
current market price to realize the cash
gift to the Foundation. Alternately, these
shares may be purchased back by the company,
providing cash to the Foundation as was
intended by the donor when making the
original transfer.
Income to
Care Provider Now, Asset Returned to Heirs
Later
An individual donor may wish to make a
charitable arrangement with the MMC
Foundation which will provide MMC or CHS
with income from the agreement now, but with
the principal returning to heirs at a later
date (usually specified). Under this
arrangement, the donors could greatly reduce
gift and estate taxes and help the Medical
Center at the same time.
Income to
You Now, Principal to MMC or CHS Later
A donor can receive income for his or her
lifetime and the lifetime of another person
(frequently a spouse) by establishing a
Charitable Remainder Trust. The donor could
receive financial and personal benefits
while helping MMC or CHS at the same
time--an annual lifetime income, an
avoidance or reduction of capital gains
taxes, an immediate charitable income tax
deduction and a reduction in costly estate
taxes. Assets which may establish the trust
include cash, securities, real estate, life
insurance or personal property (art works,
jewelry etc.,) in exchange for income earned
by the Medical Center Foundation in
management of these funds.
Gifts by
Will
Meadville Medical Center Foundation will be
pleased to receive bequests from individuals
who want to help secure MMC or CHS's
long-term future. Legacies can be of varying
amounts and for various purposes. They can
be fully unrestricted and allocated as the
Directors of Meadville Medical Center and
Community Health Services deem most
appropriate, or they can be designated for a
specific area of interest to the donor and
relating to the entity's mission. While
unrestricted bequests are preferred since
they permit the Meadville Medical Center and
Community Health Services the greatest
flexibility in meeting ever-changing demands
for its resources, gifts by Will to the
donor's area of special interest are also
welcome.
Wills may be written to leave the Medical
Center Foundation a specific amount from the
Estate, or a bequest expressed as a
percentage of the Estate assets, a specific
asset or a collection of assets. Bequests
can consist of cash or securities or
specific items of personal or real property,
including land. In preparing a Will, it
would be most appreciated if you would
contact Meadville Medical Center Foundation
to provide information regarding your
intentions and to insure that your gift by
Will can be used. |
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Foundation
About Us
How to Donate
Ways of Giving
Message From
the Chairperson
Donor
Recognition
Contacting the
Foundation
Foundation
Volunteers
Previous Annual
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2006 Annual Fund Campaign
2005 Annual Fund Campaign
2004 Annual Fund
Campaign
2003 Annual Fund
Campaign
2002 Annual Fund
Campaign
2001 Annual Fund
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