Outright gifts can be used immediately by Lawrence Hospital Center to invest in new technologies and to finance necessary expansions or improvements in facilities. Most outright gifts are made in cash. But, you can get even greater benefits by donating appreciated securities or real estate. Tax benefits follow.
You will be entitled to an income tax deduction for your gift.
Appreciated Stock or Mutual Funds:
If you make an outright gift of appreciated securities you have owned more than one year, you are entitled to an income tax deduction for the full fair market value. You also avoid the capital gains tax that would ordinarily be due on a sale. For instructions on how to donate securities please contact Heather Morrison at 914-787-5268 or firstname.lastname@example.org
Appreciated Real Estate:
An outright gift of unencumbered appreciated real estate you have owed more than one year will generally entitle you to an income tax deduction for the full fair market value. You will also avoid the capital gains tax that would be reportable on a sale. If a gift of the total value is not possible, you can donate a percentage “undivided” interest in a piece of real estate. When the property is sold, Lawrence Hospital Center will receive proceeds from the donated portion and you will derive proceeds from the rest. You can use your tax deduction from the percentage interest you donate to help offset the capital gains tax on the portion you sell.
Deductibility Limits: Cumulative gifts of cash to charitable organizations are deductible up to 50% of your adjusted gross income. Cumulative gifts of appreciated securities or real estate held more than one year are deductible up to 30% of adjusted gross income. In both cases, there is a five year carry-over for any excess.