Many ways to give
The Riverview Memorial Foundation offers a wide variety of giving options at different giving levels.
Current Gifts
Cash — Cash gifts are most often in the form of a personal check made payable to the Riverview memorial Foundation.
Memorials/Honorary Gifts — Special dedication gifts to the Foundation are recognized on a yearly basis and are for those who wish to make a gift in memory or in honor of a loved one or a dear friend.
Flame of Life — This is an extra special way to give to the Foundation and make someone special permanently recognized for years to come. Individuals can purchase panels, pavers or bricks to be engraved on the grounds of the hospital near the Foundation’s “Flame of Life”. Donations made to the Flame of Life are directed to the Foundation’s Endowment fund.
Securities — Stocks and bonds, if held for 18 months or longer, may be transferred to the Foundation and usually avoids the capital gains tax, which would otherwise be incurred if they were sold.
Gifts of Property — Certain real estate and personal property may be readily transferred to the Hospital. The current income tax deduction is based upon the fair market value.
Corporate Matching Gifts — Many corporations agree to match personal donations with an equal or greater corporate contribution in order to encourage their employees to make charitable gifts. The appropriate forms are available from your corporation’s personnel department.
Sponsorships — The Foundation holds annual events to assist Riverview in promoting the services and programs offered at the Hospital. Many corporations support the Foundation by sponsoring these events.
Deferred Gifts
Bequests by Will or Codicil — A charitable gift to the Hospital through your will or a legal revision to it will reduce your estate taxes. The bequest wording may specify a dollar amount for the gift or a percentage of your estate.
Life Income Gifts — Cash or certain assets can be transferred to a trust or gift annuity in return for a lifetime income. After the lifetime of the donor, the trust or annuity proceeds are payable to the Foundation.
Life Insurance — You may transfer a policy you no longer need for your family, naming the Foundation as the owner and beneficiary of the policy.
Emergency Economic Stabilization Act of 2009
Positive Impact for Charitable Donations
One of the items included in the recent "bailout" or "rescue plan" extended for 2009 is the ability for some taxpayers to make tax free distributions from IRAs to public charities. This is advantageous to any individual over the age of 70.5 who has an IRA and who reluctantly had to take a fully taxable distribution each year, whether or not they need the income.
The tax free distribution limit is $100,000 per year. The withdrawal satisfies minimum distribution requirements for IRAs.
This provision is beneficial to any taxpayer in any state. However, Indiana taxpayers enjoy the added benefit of avoiding federal, state and county taxes on the withdrawals and distributions to charity. Of course assets removed (tax free) from an IRA today are also out of the donor's taxable estate. Some taxpayers with large IRAs and large estates could see their IRAs reduced 75% by estate, inheritance, and federal, state and county income taxes at death. Many taxpayers welcome the opportunity to remove some of these assets and gift them to their favorite charities tax free.
If you would like more information on how the Emergency Economic Stabilization Act of 2008 might positively impact your ability to donate to the Riverview Hospital Foundation, call Kristen Cooper at (317) 776-7938.