Kershaw Health

Ways to Give

Annual Giving: Cash

Simplicity, ease and convenience make cash the most popular type of charitable gift. We will accept checks, drafts, or money orders payable to The Hospital Foundation. If you prefer, you may charge your gift to a credit card. Donors may deduct the full amount of a cash gift from their income taxes up to 50% of their income. If the gift exceeds 50% of income, the donor may “carry-over” the deduction without penalty to use in the following years up to five years.
Download a donation form or make a gift online. 
 

Pledges

Many donors are willing to pledge or commit to a gift that they may not be able to pay at one time. The Hospital Foundation gratefully accepts a written intent or pledge to give for multiple years. The pledge should be for a specified amount, which will be paid within five years from the date the intent to give is signed. The pledge should also specify the schedule of when and how payments will be made.
An easy option is to make a pledge through online giving. 
 

Appreciated Assets

An attractive alternative to a cash gift is a gift of appreciated property. Gifts of appreciated property can provide greater tax benefits to donors than a gift of cash. The most favorable treatment is for assets that have been owned for at least one year. The donor of such property may deduct the value of the asset as of the date it is transferred to The Hospital Foundation, and the donor does not have to recognize the capital gain on the property for tax purposes.  
 
The Hospital Foundation accepts traded securities, real estate, and personal property (such as art). The Foundation will also accept privately held stock on a case-by-case basis. Donors may deduct the full amount of a gift of appreciated property from their income taxes, up to 30% of their income. If the gift exceeds 30% of the donor’s income, the donor may "carry-over" the deduction without penalty to use in the following years up to five years.
Gifts other than cash and traded securities must be approved by the Board. 
 

Planned Giving

Planned giving, sometimes called deferred giving, allows donors to leave a meaningful legacy through long-term support of Kershaw County Medical Center. A wisely planned charitable gift can help reduce estate taxes, and in some instances provide benefits for donors during their lifetimes, including tax deductions. 
 

Estate Gifts

One of the most meaningful and significant ways a donor can provide future support for Kershaw County Medical Center is by providing a gift through a will or estate plan. An estate gift enables donors to distribute assets to charitable organizations, such as the Foundation, in the amounts or proportions they wish. A gift through your estate provides the following benefits:

• The opportunity to make a major gift while preserving assests during your life,
• Reduction in federal estate taxes,
• The opportunity to designate the gift to a specific program or department at KershawHealth. Assests including cash, securities, real estate and tangible personal property, such as works of art, may be transferred to The Hospital Foundation through your estate.

There are a several types of designations that can be made through an estate gift:

• A Specific Bequest is one in which The Hospital Foundation receives a specific dollar amount, a specific piece of property, or a stated percentage of the estate. This is one of the most popular forms of bequests.
• A Residuary Bequest is one in which The Hospital Foundation receives all or a stated percentage of an estate after distribution of specific bequests and payments of debts, taxes and expenses.
• A Contingent Bequest is one in which The Hospital Foundation receives part or all of the estate under certain specified circumstancess.

Life Income Gifts

Through a special gift arrangement, you may provide lifetime income for yourself or, if you wish, for another person. You will be entitled to a tax deduction for a portion your gift when you first make it, and depending on the type of life income gift you choose, you may elect to receive income that is partially tax-free.
 
Through a Charitable Remainder Trust (CRT), a donor may make a gift to The Hospital Foundation and receive an income for life for the donor and/or the donor's spouse.  In addition to the satisfaction that comes from making a gift, a CRT provides benefits to the donor by providing:  

• An income stream for the life of the donor and/or the donor's souse,
• A charitable income tax deduction,
• An opportunity to establish a fund in the donor's name or the name of a loved one; or to restrict the trust assests as to its use or designation,
• Possible avoidance of capital gains taxes of appreciated property.

Donors may choose from two types of charitable remainder trusts: the annuity trust and the unitrust. The annuity trust pays a fixed, guaranteed dollar amount regardless of the trust's investment performance. The annuity trust is best for donors who seek a regular, fixed income and prefer to have the security of knowing the amount of the payment in advance.
 
Alternatively, the charitable remainder unitrust pays the donor a predetermined fixed percentage of the trust's assets as revalued annually. If the trust's assets increase, the donor receives a larger payment, providing a hedge against inflation. Additional contributions may also be made to a unitrust.
 
A Lead Trust is the opposite of a charitable remainder trust. The "lead" income is paid first to The Hospital Foundation, and after a number of years (based on a term or a lifetime) the remainder is returned either to the grantor (a grantor lead trust) or to someone other than the grantor, such as the grantor's beneficiaries (a non-grantor lead trust). In addition, a charitable lead trust is a fully taxable trust, meaning that the trust pays income tax on its income and capital gains, unlike the charitable remainder trust which is a tax-exempt trust. The grantor does, however, receive estate and gift tax benefits.  
 

Gifts of Life Insurance

Life insurance can be a powerful asset that allows donors to make significant charitable gifts. There are two primary ways to use life insurance in your gift planning strategy.
 
First, you may transfer an existing policy or contribute the premiums necessary to purchase a new policy naming The Hospital Foundation as the owner and beneficiary. If a donor wishes to donate a new policy, he or she simply names the Hospital Foundation as the owner and beneficiary of the new policy and then makes annual payments to the Foundation equal to the premium. The Foundation will, in turn, make the payments on the policy.
 
Some donors whose children are now grown find they no longer need a paid-up policy. In this circumstance, the donor simply changes the name of the owner and beneficiary to The Hospital Foundation. The donor can then take a charitable tax deduction for the policy's cash value. If the policy is only partially paid, the donor may continue paying the premiums, or allow the Foundation to do so by making annual charitable gifts in the amount of the premium. 
 
Second, through a wealth replacement policy, donors may also consider using a life insurance policy to replace the value of current or estate gifts to The Hospital Foundation. 
 

Retirement Plan Assets

Due to the harsh tax treatment that may be assessed against retirement plan assets, donors may want to consider the significant benefits of using these assets to achieve their charitable objectives. These benefits may include avoidance of income tax on the remaining assets and an estate tax charitable deduction for the value of the gift.
 
Donors may choose to make a charitable bequest of assets in IRAs, 401(k) plans, 403(b) plans, qualified pension or profit-sharing plans, as well as other retirement savings accounts. The donor should notify the retirement plan administrator that he or she wishes to name The Hospital Foundation as a beneficiary. If you are married, you must also obtain a written waiver from your spouse prior to naming any charitable beneficiary for your retirement plan. 
 

Gifts of Real Estate

Donors can make a gift of commercial or residential real estate to The Hospital Foundation and receive a charitable income tax deduction based on the appraised value of the property. To substantiate the value of the property, the donor must obtain an appraisal from an independent qualified appraiser; the cost of the appraisal is borne by the donor and is a miscellaneous tax deduction.
 
Through a retained life estate, donors may give their home to The Hospital Foundation but continue living there for the remainder of their lives. At their death, the home becomes the property of The Hospital Foundation to sell for its benefit. By making a gift of property while retaining residence, the donor is provided with a charitable income tax deduction based on the value of the property, the age of the donor, and his or her life expectancy. The donor is responsible for maintenance costs, insurance, and real estate taxes.
 
Donors may also use a home or land they no longer want or need to fund a Charitable Remainder Trust. Donors considering a gift of real estate through a charitable remainder trust should remember two important rules. First, donors cannot obtain a charitable income tax deduction unless the trust is irrevocable. Second, donors may not live in a residence that has been donated to an irrevocable charitable remainder unitrust.
 
This information is meant as a guide for donors considering a gift to The Hospital Foundation. We recommend consulting a financial advisor, CPA or attorney for expert advice on what will be best for you and your family. Gifts other than cash and traded securities must be approved by the Board.