Gifts may be given in the form of cash, securities, real estate, life insurance, and personal property, as well as bequests, remainder trusts, or testamentary trust gifts.

St. Mary Medical Center Circle of Caring Foundation representatives are available to meet with donors, their attorneys, and/or accountants to discuss alternatives to cash gifts. For more information, please call the Foundation Office at (509) 522-5910.

Gifts of Cash – A cash gift may be made in the form of cash, a check, or a credit card charge.  Cash gifts may be unrestricted or designated for a specific program.  A charitable tax deduction is allowed for up to 50% of your adjusted gross income in the year the gift is made, with a five-year carry-forward privilege for the excess.

Gifts of Securities – A gift of highly appreciated stocks and bonds (securities) generally provides a greater tax benefit to the donor than cash can provide because of avoidance of capital gains tax.  A charitable tax deduction of the fair market value is allowed against your taxable income for up to 30% of your adjusted gross income, with a five-year carry-forward privilege for the excess.

Gifts of Real Estate – A home, vacation home, farm, commercial property, or other real estate may be used to make a gift to St. Mary Medical Center.  An entire piece of property or an undivided fractional interest can be considered for donation.  A tax deduction and avoidance of capital gains tax can be realized.  Real estate gifts will usually be sold, with the proceeds designated for a specific purpose or left unrestricted.  In some cases, St. Mary Medical Center may retain the property and use it for Medical Center purposes.  Unrestricted gifts of real estate allow St. Mary Medical Center the greatest flexibility to respond to its needs.

Gifts of Life Insurance – A major donation can be made to St. Mary by naming St. Mary Medical Center as the beneficiary of a life insurance policy.  A charitable tax deduction is allowed when St. Mary Medical Center is the owner and irrevocable beneficiary of the policy and the premiums are paid in full.  If premiums are paid over a period of time and St. Mary Medical Center is named the owner and irrevocable beneficiary of the policy, each premium payment is eligible for a charitable deduction.

Gifts of Tangible Personal Property (In-Kind Gifts) – A significant gift can be made with a donation of items critically needed by St. Mary Medical Center.  Examples include medical equipment, artwork, vehicles, and other personal property.  Most in-kind gifts provide a tax deduction to the donor.