How To Give
As not-for-profit health care system, St. Joseph’s Hospitals rely on the generous support of donors to sustain the extraordinarily high level of personalized care that has become our tradition. Your financial support is highly valued by our outstanding team of health care professionals and the patients they serve. We invite you to become a part of the St. Joseph’s tradition and choose one of the many easy ways to give.
A cash gift is the most common and convenient way to give to the St. Joseph’s Hospitals Foundation. Gifts may be made outright or pledged over a period of up to five years. Donors who itemize tax deductions are able to deduct cash gifts fully up to 50 percent of their adjusted gross income. Any excess may be carried forward for up to five additional years. Donors may designate their gift for a specific use by making note of it on the pledge card or enclosing a brief note when making the gift. Checks should be made payable to St. Joseph’s Hospitals Foundation, or a gift can be charged with MasterCard, Visa, Discover or American Express.
A gift of appreciated securities, such as stocks, mutual funds and bonds, can provide attractive benefits. An outright gift of long-term, appreciated securities (securities held for more than one year) avoids capital gains taxes. In most cases, the donor may claim a charitable income tax deduction equal to the market value of the securities as of the date the stock is transferred to St. Joseph’s Hospitals Foundation. For gifts of appreciated securities, a gift is fully deductible up to 30 percent of the donor’s adjusted gross income. Like gifts of cash, appreciated securities may be carried forward for five additional years. Please call our Finance department for additional information (813) 872-0979.
Gift of Real Estate
Donors can make a gift of commercial or residential real estate to St. Joseph’s Hospitals Foundation and receive substantial financial benefits. Property may be given outright to support the purposes of St. Joseph’s Hospitals Foundation and the donor may take a charitable income tax deduction based on its appraised value. Or, the donor may use a home or land that is no longer wanted or needed to fund a life income gift.
Retirement Plan Options
Making a gift of a qualified retirement plan asset, such as a 401(K), 403(b), IRA, Keogh or pension plan, is another way to benefit the hospital and receive significant tax savings. By naming St. Joseph’s Hospitals Foundation as the beneficiary of a retirement plan, the donor maintains complete control over the assets while living. At the donor’s death, the plan passes to St. Joseph’s Hospitals Foundation free of both estate and income taxes.
Donors can use life insurance to make a gift to St. Joseph’s Hospitals Foundation by naming St. Joseph’s Hospitals Foundation as the owner and beneficiary of a life insurance policy. A donor receives a charitable income tax deduction based on the lesser of the policy’s fair market value or the net premiums paid. Donors may also wish to make gifts of paid-up policies, resulting in a charitable income tax deduction for the policy’s cash surrender value.
The simplest form of planned giving is a bequest made through a donor’s Will. Bequests can result in considerable tax benefits. It is helpful for the St. Joseph’s Hospitals Foundation to have in its confidential files a copy of the excerpts from your estate documents that pertain to your charitable gift provision. The following language may be helpful when making a gift by will: “I give, devise, and bequeath to St. Joseph’s Hospitals Foundation, a charitable foundation and tax exempt organization, the sum of ____ dollars [or otherwise describe the gift. Often, a percentage of the residuary estate is designated].”
Charitable Remainder Trusts
A CRT is designed to pay beneficiaries either a fixed or variable income payment for a designated period of time, after which the remainder of the corpus of the Trust passes to St. Joseph’s Hospitals Foundation. A Charitable Lead Trust (CLT) is designed to pay a charitable entity such as the Foundation income for a designated period of time, after which assets of the trust are returned to the donor or other beneficiary. Such trusts can provide tax benefits to both the donor and the heirs.
Charitable Gift Annuity (CGA)
A CGA is both a gift and an investment. The donor make an irrevocable gift to St. Joseph’s Hospitals Foundation and receives a tax deduction in the year the gift is made. We invest the gift and provide to the donor, and up to one other person designated by the donor, guaranteed income for life. The gift remains invested until such time that it is no longer required to make annuity payments. At this point, the gift is used to support St. Joseph’s Hospitals Foundation.