Ways to Give to GBMC

Supporting GBMC provides immeasurable benefits to hundreds of thousands of patients that we will care for in the years ahead. Some of the many ways to give are cash, intent to give (pledges), appreciated assets, and planned gifts. Each method is described below.

Existing tax laws enable donors to make gifts that are financially beneficial to the donor while also helping to support GBMC and its mission. The GBMC Foundation staff is always willing to discuss your particular circumstances with you or your advisors. The GBMC Foundation also maintains a list of competent accountants, lawyers and other professionals who you may retain. If you would like further information please contact John Jeppi, Director of Gift Planning, by e-mail or by telephone at 443-849-3303.

Cash

Simplicity, ease and convenience make cash the most popular type of charitable gift. GBMC will accept immediately payable checks, drafts, or money orders payable to GBMC Foundation, Inc. A gift of cash is considered made on the date it is hand delivered or mailed. Therefore, a check received in January is considered made in the previous year if it was mailed on or before December 31. The donor may deduct the full amount of a cash gift from his or her income taxes up to 50% of his or her income. If the gift exceeds 50% of income, the donor may "carry-over" the deduction without penalty to use in the following years for up to five years.

Intent to Give (Pledges)

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

Appreciated Assets

An often-attractive alternative to a cash gift is a gift of appreciated property. With proper planning, gifts of certain types of property can provide greater tax benefits to the donor 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 full market value of the asset as of the date it is legally transferred to GBMC Foundation. Conversely, the donor does not have to recognize the capital gain in the property for tax purposes. Example:

Donor A bought 1000 shares of Good Investment, Inc. at $25 per share. The stock is now trading at $100 per share. Donor A wants to make a $100,000 gift to GBMC. Donor A sells all of her Good Investment, Inc. stock and gives a check for $100,000 to GBMC. Donor A will have a $100,000 tax deduction. Unfortunately, she will also have $75,000 of income on which she will have to pay taxes, which will be about $30,000 (assuming a 40% tax bracket combined state and federal).
Donor B also bought 1000 shares of Good Company Investment, Inc. for $25 per share. She also wants to donate $100,000 to GBMC. Donor B, however, gifts her Good Investment Good Investment Company, Inc. stock to GBMC. Donor B receives the same $100,000 tax deduction as Donor A. Donor B pays not tax on the $75,000 increase in value of her stock. Donor B saves $30,000 dollars

GBMC Foundation accepts publicly traded and listed securities and will also accept real estate, personal property (such as art) and privately held stock on a case-by case basis. The GBMC Foundation staff can provide you with more information about your particular situation and property. The donor may deduct the full amount of a gift of appreciated property from his or her income taxes, up to 30% of his or her income. If the gift exceeds 30% of the income, the donor may "carry-over" the deduction without penalty to use in the following year for up to five years.

Planned Giving

View our Planned Giving section online for complete information about making bequests and contributing charitable gift annunities or life insurance.