Ways to give

There are tax-advantaged ways to give that may benefit your unique situation.

Gifts of Appreciated Stock

Transferring highly appreciated stock (held more than a year) directly to a charity allows you to sidestep capital gains tax, while claiming a charitable tax deduction equal to the current full market value of the stock.

For many, it is the best way to leverage their gift. Rather than sell stock, pay taxes, and give the remainder to charity, this method puts the full value of the stock to work for the charity. At the same time, it allows the donor to rebalance their portfolio.

Charitable deductions are subject to limitations, so be sure to check with your tax preparer to make best use of this provision in the law.

IRA Charitable Rollover
Persons 70 ½ and older can rollover up to $111,000 directly to charity. If you are married and both you and your spouse have your own IRAs, you can each take advantage of this cap for a total combined limit of $222,000.

While you won’t receive an income tax deduction for a rollover gift, you also won’t pay any income tax on the transfer. Especially helpful—the rollover helps satisfy your Required Minimum Distribution. 

The funds must be transferred directly from your IRA custodian to a qualified 501(c)(3) public charity. If the distribution check is made payable to you first, it becomes taxable income.

Gifts of Commodities

By gifting commodities, you may be able to write off the cost of inputs, while side stepping the income. That can result in a savings of Federal, State and Self-Employment taxes.

Estate Gifts

Name the Good Samaritan Health Services as a beneficiary in your Will or Estate Plan.

Life Insurance
If you are a bargain hunter, you might consider making a gift of life insurance. By naming a charity like ours as the beneficiary of an unneeded policy, you can spend dimes to give dollars and receive tax savings. Once you have given the policy, you can receive additional income tax savings by making a gift each year in an amount equal to the premium payment.

Real Estate
If you have real estate you are tired of holding, then give that real estate (or part of it) to a qualified charity. You lose the burden of maintaining and paying taxes while gaining income tax advantages, such as avoiding paying capital gains tax on the transfer and receive a tax-saving charitable deduction.

Gifts in Kind
There are many in-kind items that Good Samaritan Health Services Foundation uses on a regular basis. For more information about donating specific items, please contact us.

Charitable Remainder Trust
When you fund a charitable remainder trust, you receive periodic payments in return. When you and other beneficiaries pass, our organization benefits from what remains in the trust.

Business Ownership
If you have a business ownership where you wish to reduce your share, then donate a share of your closely held stock to charity. You receive an income tax deduction and reduce your ownership.