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Special Programs:
 Did
you know?... Many companies will match their employees'
charitable contributions!
For a listing of matching gift companies
click here!
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 Planned
Giving
Careful planning of
your gift to Birmingham Group Health Services can help maximize the
benefits to you and to the organization. Federal income, estate, and
gift tax laws encourage individuals and their families to make gifts
to charity by offering tax savings, credits and deductions. The
following are some ways that you can make a significant gift to
Birmingham Group Health Services and take advantage of these tax
savings.
Outright
Gifts
If you make an outright gift to Birmingham Group Health Services,
Inc. (BGHS) of cash, appreciated securities, real estate, or
personal property, and your total deductions exceed your maximum
permitted federal deduction for one year, you can claim the excess
as deductions on your federal tax returns in the five subsequent
years. Below is an explanation of the tax benefits for making the
following gifts:
Cash Gift :
The full amount of a cash gift, up to 50 percent of your
adjusted gross income, can be deducted for income tax purposes
in the year that the gift is made.
Gifts of Appreciated
Securities: If you donate appreciated securities
to BGHS, you can avoid capital gains tax on the difference
between the price you paid for the securities and their current
market value the date the gift is made. You can also deduct the
current market value of your securities gift, up to 30 percent
of your adjusted gross income.
Gifts of Real Estate:
If you donate appreciated securities to BGHS, you would be
credited with a contribution valued at the fair market value of
the real estate, which is ordinarily ascertained by a real
estate appraiser.
Deferred Gifts
Life Income Gifts:
With a life income gift, you assign cash, securities, or other
assets irrevocably to BGHS. They are then invested to pay a
lifetime percentage or fixed amount to you, to succeeding
beneficiaries, or to whomever you designate. Income is paid
monthly, quarterly, semi-annually, or annually and is taxable to
the beneficiary. Upon the death of the last surviving
beneficiary, the organization may use the assets either as
needed or for a specific purpose for which you have designated.
A life income gift gives the donor a substantial charitable
deduction against taxable income in the year that it is made,
even though it continues to produce income for the donor during
his/her lifetime.
Bequests: Gifts
by will, whether in the form of cash, securities or other
property, may be fully deducted in determining federal estate
taxes and inheritance taxes.
Life Insurance:
Donors who no longer require the protection of life insurance
policies acquired years ago, may realize immediate tax savings
by transferring them to BGHS and naming BGHS as the irrevocable
beneficiary. An alternative is to take out a new policy, naming
BGHS as the owner and irrevocable beneficiary.
For more information about
these or other planned giving programs, please contact BGHS'
Development Department at
(203) 736-2601, ext. 360 today.
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