Ways to Give
Cash Donations & Outright Gifts
A Gift Of Cash
Gifts of any amount are welcome – in fact it is often the smallest gift that is the most meaningful for the caregivers who work here. Gifts made in honor or in memory of a friend, colleague, caregiver or loved one are especially welcome. The honoree or family will receive special recognition in our Annual Report, and acknowledegments will be sent to anyone you identify. Donate now, by clicking here.
A Gift Of Securities
Gifts of long-term, appreciated securities provide the same benefits as cash to Martha’s Vineyard Hospital and offer you the additional benefit of paying no capital gains tax. For stock transfer instructions call the Development Office at 508-693-4645.
A Gift Of Real Estate
We would be happy to explore the options and benefits with you of considering the gift of a home, vacation property, condominium, undeveloped land, or other real estate. Real estate contributed outright, in trust or through a part gift/part sale arrangement provides a way to avoid or substantially reduce capital gains tax.
What are your philanthropic and financial goals for the future? What legacy do you wish to leave? Partner with MVH to reach your philanthropic goals. The MVH Development Office serves as a resource to help you support the Hospital’s mission of outstanding patient care in whatever way is most personal and meaningful to you. Donors who choose to make a planned gift – in the form of a life income gift or by designating MVH as a beneficiary of their estate plan, retirement account, or life insurance policy provide invaluable support. The Prudence Look Society, established in the name of the founder of Martha’s Vineyard Hospital, honors the generosity of those individuals who support the mission of MVH through planned gifts. For more about The Prudence Look Society, click here.
Donors who wish to support MVH while preserving their lifetime assets and reducing federal estate taxes may want to consider naming MVH as a beneficiary of their will or trust, retirement plan or life insurance policy.
Estate gifts enable assets to be distributed in the amounts or proportions designated by the donor. Many assets – including cash, securities, real estate and tangible personal property – may be transferred to MVH through a donor’s estate.Estate gifts can be made as a Specific Bequest, in which MVH receives a specific dollar amount, or as a Residual Bequest, in which MVH receives all or a stated percentage of an estate after distribution of other specific bequests, and after the payment of debts, taxes and expenses.
Retirement Plan Assets
Retirement plan assets from qualified plans, such as 401(k), 403(b), IRA, Keogh or pension plans, are another way for donors to help the Hospital while receiving significant tax savings. Retirement plan assets are often subject to extremely high estate taxes, and the income – when received by an individual beneficiary – is fully taxable. Making a charitable gift may be a far better use of these assets.
Life Insurance Gifts
Donating life insurance can be an attractive option, as it allows a donor to make a gift to MVH by naming the Hospital as the owner and beneficiary of a life insurance policy. The donor receives a charitable income tax deduction, based upon the lesser of the policy’s fair market value or the net premiums paid. Donors may also wish to make gifts of paid-up policies, resulting in a charitable income tax deduction for the policy’s cash surrender value.
Lifetime Income Gifts
A donor may choose to make a gift to MVH and receive immediate financial benefits, including a lifetime stream of income and a charitable income tax deduction. Life income gifts may be made as unrestricted donations, in order to provide vital support to the Hospital’s areas of greatest need or may be designated to benefit a particular department or program at MVH.
Charitable Gift Annuity
A Charitable Gift Annuity may be the answer for donors wishing to supplement their income with fixed annual payments. Charitable gift annuities act as solid investments in the Hospital’s future, and can help to form a valuable part of MVH’s long-term support. Annuity rates increase with the age of the income beneficiary. To view or download current Annuity Rates, click here.
Charitable Remainder Trust
A Charitable Remainder Trust is a personal management plan that provides a variable or fixed lifetime income, as well as a charitable income tax deduction, for the donor. There are two basic types of charitable remainder trusts: the unitrust and the annuity trust.
- The Charitable Remainder Unitrust creates a hedge against inflation over the long term, by paying the donor a predetermined percentage of the fair market value of the trust’s assets as revaluated annually.
- The Charitable Remainder Annuity Trust is best for donors who seek a regular, fixed income, and prefer to have the satisfaction of knowing the exact amount of payment in advance.
Life Income Gift Benefits:
- A lifetime stream of income for the donor, and possibly for a second beneficiary
- A charitable income tax deduction
- Relief or reduction of capital gains taxes on gifts of long-term appreciated securities
- A reduction in federal estate taxes
To learn more, please contact the Development Office:
Director of Development & Community Engagement