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Cash, Securities, and Real Estate
For more information about planned giving, please contact Anne Morton Smith, chief development officer at 401-432-1451 or ASmith18@lifespan.org.
Cash is the easiest of all assets to transfer in order to fund a life income gift to Bradley Hospital Foundation. Ordinarily, the receipt of your check by the hospital concludes the transaction with the postmark on your envelope as your official date of gift. A life income gift (such as a charitable gift annuity or a charitable remainder unitrust) is likely to provide higher income than either a certificate of deposit or a savings account.
Securities and Mutual Funds
Many donors who own highly appreciated securities are reluctant to sell because of the capital gains tax on the appreciated portion of the assets. Using securities and/or mutual funds to fund a life income gift is a way to avoid incurring up-front capital gains tax liability. Learn more about donating securities and/or mutual funds.
In reviewing their assets, donors often find that real estate, whether their primary residence or vacation home, has appreciated more than their other assets. A gift of real estate to Bradley Hospital Foundation can offer significant benefits to both the donor and the hospital. There are several options for making a real estate gift:
- Outright Gift of Real Estate: A gift to the hospital results in a charitable income tax deduction based on the fair market value of the property at the time of the gift. In addition, the donor is able to avoid any capital gains tax liability.
- Life Income Gifts of Real Estate: A gift of real estate can be structured to provide a life income (usually through a trust or a deferred payment gift annuity). Whatever gift vehicle is chosen, the donor receives a charitable income tax deduction (for a portion of the gift's value) in the year the gift is made.
- Gift of Real Estate with Retained Life Estate: A donor may decide to make a gift of their principal residence or vacation home to the hospital and retain the right to live in the house for their lifetime. The donor receives a charitable income tax deduction for a portion of the fair market value of the home in the year of the gift and retains rights and duties of ownership for life.
Bradley Hospital Foundation has suggested guidelines to ensure that real estate gift transfers go smoothly: property should be readily saleable so that the hospital does not incur undue carrying expenses; a qualified appraisal must be provided by the donor to substantiate the value of the property; and the real estate should be mortgage-free.