Current Gifts
The most common way to make an immediate gift is by personal check or credit card. This type of gift provides immediate liquidity for the Hospital and generates a charitable income tax deduction for the donor in the year of the gift.
A memorial gift is an especially meaningful way to remember a friend or love one. Please print a Gift Designation Card to complete and mail with your gift.
Next to writing a check, perhaps the best known vehicle for philanthropy is the bequest. As defined in your will, a bequest makes it possible for you to make your wishes known today without relinquishing needed assets during your lifetime. Bequests can transfer a specific asset.
Remember Carteret General in your Will.
Giving stock or bonds may provide greater tax benefits. If you have owned securities for more than one year and the fair market values has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value.
A gift of real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation.
Selected artwork, books, jewelry, and antiques are examples of gifts of personal property that can, in certain situations, be an appropriate gift. To ensure that your tangible personal property qualifies for a favorable charitable tax deduction, please contact the Foundation prior to making the gift.
Planned Gifts
Also called deferred gifts, planned gifts refers to specific strategies that (in most cases) benefit CGH at some point in the future while offering immediate benefits to the donor.
The gift of a paid-up life insurance policy is a good example. By designating CGH as owner and beneficiary of such a policy, you will receive a charitable income tax deduction that, in most cases, is equal to your cost basis in the policy.
Gifts That Generate Income For You
The Gift Annuity is a great example of how a gift generates income for the donor. This is actually a contract between a donor and a charity that is part gift and part annuity. In addition to the annuity payment, the donor receives a charitable income tax deduction and a portion of each annuity payment may be tax-free.
The Deferred Payment Gift Annuity, in which annuity payments are delayed for a number of years, offers rates that make it an attractive supplement to retirement income.
The Charitable Remainder Trust (CRT) is perhaps the most versatile charitable giving tool. With the CRT it is possible to bypass capital gains tax on the sale of highly appreciated assets, generate an increase in income, receive an attractive charitable income tax deduction, and fulfill your philanthropic objectives.
Please call 252-808-6647 to discuss these and other creative opportunities to enhance your estate planning.