Charitable Giving
In support of Meadow Brook Medical Care Facility and our residents,
You Can Make A Difference!
Bequests
When doing your estate planning you may wish to consider Meadow Brook. You can designate a specific use or make a general bequest. Historically, upon receiving larger bequest ($1,000,000.00 or more) the facility has used only the interest earned on the funds to enhance resident services.
Examples: Two resident transport vans to accomodate medical appointments.
Gifts of Real Estate
A gift of property may have appreciated in value so much through the years that it's sale would mean a sizeable capital gains tax. By making a charitable gift of the property, the capital gains tax is avoided and at the same time you would receive full market value for the gift of property.
It is possible for your and your spouse to continue to ue the property for your lifetime and still receive a tax deduction.
Life Income Gifts
If you own stock and you receive limited dividends, a life-income may be appropriate. You would transfer the stock to Meadow Brook and establish a "Charitable Annuity Trust" or "Charitable Remainder Annuity Trust" that would provide you with a 5% or greater annual return. You would be increasing your income and making a contribution that is tax deductible.
Gifts of Cash
Some employers will match your charitable gifts and in some areas, service clubs like Rotary will match up to a certain amount each year, per member. If you participate in a matching program, simply enclose a form with your check.
Gifts of cash are fully deductible up to 50% of your adjusted income.
Gifts of Stock
If you own stock, it is usually more tax wise to contribute stock than cash.
You avoid any capital gains tax on the increase in value and you receive a charitable deduction for the full market value of the stock.
Example: If you purchased stock years ago for $1,000.00 and it is now worth $10,000.00, the charitable contribution tax deduction would be $10,000.00 with no capital gains tax.
Gifts of stock are fully deductible up to 30% of your adjusted gross income.
Gift Ideas
Year end gift giving can reduce your income taxes, while providing support for our residents.
Example: In 2000, if you were in a 31% tax bracket and itemize a $1,000.00 gift, it would save you $310.00 in taxes.
Your charitable gifts make an important difference in what we are able to accomplish. We urge you to discuss your tax planning with an accountant or other professional advisor.
Tuition Reimbursement Program
In 2001, Meadow Brook establsihed a Tuition Reimbursement Program to assist employees in furthering their career by completing a college nursing program to become a Licensed Practical Nurse or a Registered Nurse. Gifts may be designated directly to the Tuition Reimbursement Program.