More Information: Acknowledging Your Gifts | How to Donate
Highlands Foundation is grateful for all the contributions it receives, large and small, from members and friends in support of its mission.
There are a variety of ways to make a significant gift to the Foundation. The following information illustrates some of the ways one can increase and advance one's personal and estate-planning interests while providing important capital support for the Foundation.
Donors are advised to consult their legal and/or financial counsel before planning their gifts. Such counsel can assist donors to make the largest possible gift to the Foundation at the least possible net expense to themselves. Personal financial circumstances vary considerably and must be considered carefully in order to receive maximum benefit from existing tax laws.
The following information details the ways in which you might financially support Highlands Foundation. Your support is very much appreciated however you contribute. Donors may choose to make ignificant gifts to the campaign in a variety of ways.
PLEDGES: Give a gift in support of the campaign over the course of three to five years on a payment schedule of your design. The benefits of a pledge are numerous for both donor and the Foundation.
When payments are stretched out over the course of several months or years, people find it easier to make larger gifts. Pledging also allows the donor to determine a schedule for making payments. The Foundation benefits by knowing it has a solid, predictable base of support.
CASH (CHECK): Every dollar you give to the Highlands Foundation campaign is tax-deductible up to the maximum of 50% of your adjusted gross income. Any amount given in excess of this limitation can be carried over and deducted for up to five subsequent years.
MATCHING GIFTS: Many corporations recognize the support of a nonprofit organization by an employee or other eligible individual. If your business fits this category, the Foundation will award campaign credit to you for both your gift and its match. Matching gifts are usually equal to the donor's gift, although some corporations match on a two-to-one ratio. Usually, the donor must obtain the company's matching gift form and send it with the gift to the recipient.
GIFTS OF APPRECIATED STOCKS AND BONDS: If you have marketable securities that have grown substantially in value, the tax laws make it possible for you to make an important gift at remarkably low after-tax cost. To make direct gifts to the Foundation and gain significant tax advantages, notify your broker or custodian banker that you intend to make a gift to the Highlands Foundation campaign. Gifts of securities will be credited at their mean market value on the date of delivery to the Foundation.
CLOSELY HELD STOCK: Contribution of shares of stock in a closely held corporation allows the owner to avoid having the gift recognized in the form of dividends for taxing purposes. Even though the corporation makes the contribution, the individual is entitled to a charitable tax deduction in relation to the percent of their ownership in the business.
PERSONAL PROPERTY: "Hidden assets," such as antiques, paintings, jewelry, and other collectibles, may be valuable assets that you no longer feel the need to retain and that can be donated with tax advantage.
LIFE INSURANCE: Another common "hidden asset" for giving is a life insurance policy that is no longer needed for its original purpose. The cash value of the policy is immediately available for tax-deduction purposes.
REAL ESTATE: Donated real estate may include vacation homes, farms, second homes, inherited or unneeded property, acreage, or lots. This type of donation allows the donor to avoid capital gains tax on profit and receive a full fair-market value charitable deduction, up to thirty percent (30%) of adjusted gross income, with a five-year carry-over provision and no capital gains tax on the property appreciation. Gifts of real estate will be credited at their appraised value at the time the gift is made. The Foundation reserves the right either to accept or reject any offer of real estate.
WAYS TO GIVE TOMORROW
Planned or deferred gifts made to Highlands Foundation are invaluable contributions to the accomplishment of its long-term goals. In addition to supporting the capital campaign with your gift today, you can endow the future of the Foundation by giving a planned gift. Long after this current campaign is completed, your planned gift will endow the Foundation to support future capital needs. Planned or deferred gifts may take any of a variety of forms.
BEQUESTS: Provide meaningful and substantial support by a provision in your will for Highlands Foundation while retaining full use of the gift during your lifetime. Bequests may be a lump sum, a percentage of your estate, what's left in an estate after all other obligations are met, or a particular item, piece of real estate, or other property.
LIFE INSURANCE: Receive immediate and long-range income estate tax benefits by naming Highlands Foundation as the irrevocable beneficiary and owner of a life insurance policy. If you elect to do so, you may continue paying what become tax-deductible premiums. The full value of the policy, with no reduction for estate tax, will come to the Foundation for the benefit of future generations served by Highlands Regional Medical Center. Because of the complexity of insurance policy gifts, donors are encouraged to consult IRS rules, their own tax advisors, and the Foundation.
CHARITABLE LEAD TRUSTS:
To transfer wealth in a tax-advantaged manner, create a trust that produces income payable to Highlands Foundation. After what is usually a ten-year term, the trust assets are then passed to your family or to other beneficiaries of your designation.
CHARITABLE REMAINDER TRUST: Create a trust in which you place money or property with instructions to pay you or another person income, in most cases for life. The income will be a set percentage of the trust's value. When you or the person receiving the income passes on, the remainder of the trust passes to the Foundation.
LIVING TRUST: Maintain ownership of your assets during your lifetime or make a provision to distribute them to Highlands Foundation after your death. If you wish, the Foundation benefit can be deferred while lifetime benefits are paid to a spouse or another designated beneficiary.
GIFT ANNUITY: You can make a gift for the future benefit of Highlands Foundation and retain fixed lifetime annuity payments for yourself or other beneficiaries. After the death of the last beneficiary, the principal goes to the Foundation.
LIFE ESTATE: Transfer property to Highlands Foundation even as you retain your rights of use or income privileges. The property passes to the Foundation after the death of the last beneficiary.