Cash Gifts
You can make a cash gift through a check or credit card online, by mail or by telephone.
Gifts of Appreciated Securities
Using stocks, bonds or mutual fund shares that have increased in value is one of the most popular ways to make a charitable gift. Giving appreciated securities provides a charitable deduction, in most cases, for the full fair-market value of the property, and enables you to avoid capital-gain tax. You must have held the appreciated securities for at least a year to receive these benefits.
For more information about gifts of appreciated securities,
please call or e-mail Princeton HealthCare System Foundation:
609.497.4190 | foundation@princetonhcs.org
Gifts by Will
Preserve your income while supporting Princeton HealthCare System by including us in your will or living trust. This is one of the simplest and most popular ways to support us. There are no estate or inheritance taxes on charitable bequests, which can significantly reduce the tax burden of your estate for your heirs. Your bequest can be unrestricted or directed to a specific purpose. You can leave Princeton HealthCare System:
- A specific sum of money
- A percentage of your estate
- A specific item
- Real estate
- Any combination of these assets.
For more information about gifts by will,
please call or e-mail Princeton HealthCare System Foundation:
609.497.4190 | foundation@princetonhcs.org
Other Types of Gifts
You can also:
- Use other assets, such as real estate or life insurance, to make a gift to Princeton HealthCare System
- Use your assets to make other types of gifts, such as trusts and annuities.
For more information about other types of gifts,
please call or e-mail Princeton HealthCare System Foundation:
609.497.4190 | foundation@princetonhcs.org
IRA Rollover Gifts
On December 17, 2010, President Obama signed a law -- the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 -- that permits donors once again to make IRA charitable rollover gifts. From now through December 31, 2011, donors 70½ or older can make gifts directly from their IRA account to Princeton HealthCare System and other charities without being subject to federal income tax on the withdrawal.
Further information on IRA charitable rollover gifts:
- Donors can make IRA charitable rollover gifts up to $100,000 a year (from now until December 2011) from their IRA account. Rollover gifts count toward donors' required minimum distribution.
- IRA charitable rollover gifts must be made from the IRA administrator directly to the charity. Please ask that your administrator identify you as the donor when it transfers a rollover gift to Princeton HealthCare System. Please also notify Robert Sweet, Director of Gift Planning at Princeton HealthCare System Foundation, before the transfer so that he can identify your gift. Robert's telephone number is 609.252.8713; his e-mail address is rsweet@princetonhcs.org.
- IRA charitable rollover gifts are not reportable as income for Federal income tax purposes; they are also not reportable as Social Security income. In most states, the amounts withdrawn are not subject to state income taxes. Residents of New Jersey may, however, be subject to state income tax on rollover gifts. Since they are not being taxed on the withdrawal, donors of IRA charitable rollover gifts do not receive a Federal income tax deduction for such gifts.
- IRA charitable rollover gifts are not subject to the Federal percentage limits on charitable contributions (that is, to the 50% and 30% AGI limits to which other charitable gifts are subject).
- Amounts withdrawn from an IRA account are removed from the donor's taxable estate. For donors whose estates are subject to Federal taxes, this law presents an opportunity to avoid the "double taxation" of their IRA.
- The new law does not permit an IRA charitable rollover gift to fund a charitable gift annuity, charitable remainder trust, pooled income fund, or charitable lead trust. In general, rollover gifts cannot be made to private foundations, donor-advised funds, or supporting organizations. Gifts for which the donor receives a substantial benefit that reduces his or her tax deduction -- such as tickets to a dinner or other event -- are not eligible.
- Gifts from retirement accounts other than an IRA are not eligible under the law. Donors may, however, be able to make qualified transfers from their pension or profit-sharing retirement account to their IRA and then make a charitable gift from the IRA account.
IRA charitable rollover gifts are most appropriate for donors who:
- Do not itemize deductions on their tax return
- Have made charitable gifts of 50% or more of their adjusted gross income (and so could not claim further charitable income tax deductions for the year)
- Are subject to the Alternative Minimum Tax (AMT)
- Do not need the income the required minimum distribution would bring
- Have a taxable estate and wish to avoid the "double taxation" of inherited IRAs
IRA charitable rollover gifts should be made to Princeton HealthCare System rather than to Princeton HealthCare System Foundation. The System's tax ID number is 21-0635009.
This document is not intended to constitute tax or legal advice; we urge you to consult your own tax or legal adviser on this matter.