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Gifts may be given in the form of cash, securities, real estate, life insurance, and personal property, as well as bequests, remainder trusts or testamentary trust gifts.
Providence St. Mary Foundation staff is available to meet with donors, their attorneys or accountants to discuss alternatives to cash gifts. For more information, please call the Foundation Office: 509-897-2091.
A cash gift may be made in the form of cash, a check or a credit card charge. Cash gifts may be unrestricted or designated for a specific program. A charitable tax deduction is allowed for up to 50 percent of your adjusted gross income in the year the gift is made, with a five-year carry-forward privilege for the excess.
A gift of highly appreciated stocks and bonds (securities) generally provides a greater tax benefit to the donor than cash can provide because of avoidance of capital gains tax. A charitable tax deduction of the fair market value is allowed against your taxable income for up to 30% of your adjusted gross income, with a five-year carry-forward privilege for the excess.
A home, vacation home, farm, commercial property or other real estate may be used to make a gift to Providence St. Mary Medical Center. An entire piece of property or an undivided fractional interest can be considered for donation. A tax deduction and avoidance of capital gains tax can be realized. Real estate gifts will usually be sold, with the proceeds designated for a specific purpose or left unrestricted. In some cases, Providence St. Mary Medical Center may retain the property and use it for Medical Center purposes. Unrestricted gifts of real estate allow Providence St. Mary Medical Center the greatest flexibility to respond to its needs.
A major donation can be made to St. Mary by naming Providence St. Mary Foundation as the beneficiary of a life insurance policy. A charitable tax deduction is allowed when Providence St. Mary Foundation is the owner and irrevocable beneficiary of the policy and the premiums are paid in full. If premiums are paid over a period of time and the Foundation is named the owner and irrevocable beneficiary of the policy, each premium payment is eligible for a charitable deduction.
A significant gift can be made with a donation of items critically needed by Providence St. Mary Medical Center. Examples include medical equipment, artwork, vehicles and other personal property. Most in-kind gifts provide a tax deduction to the donor.
Honor Gifts are often used to pay tribute to a family member, colleague or friend. Contributions are made in the name of an individual, and the honored individual is notified that a gift was given in his or her name. Honor gifts can also be made to celebrate a special occasion or event.
Memorial Gifts can be made to remember a loved one or friend who has passed away, and is a wonderful way to leave a lasting legacy in memory of a special person. Memorial gifts can be directed toward any area of interest of the donor.
If you are age 60 or older, there is a unique opportunity recognized by the IRS that allows you to make a tax-deductible gift to support St. Mary, while earning a minimum 6.2% return in income for the rest of your life. Learn more »
A great way to support the Foundation while enjoying a festive social event. A large portion of ticket sales from each event goes directly to help important causes. A sponsorship is a great way to both support the Foundation and promote your business.