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Charitable Gift Options
The following charitable gift options may provide an attractive alternative to outright gifts of cash:
Appreciated Securities - A gift of appreciated securities provides a charitable income tax deduction based on the value of the securities. Securities must be under your ownership for more than one year.
Closely Held Stock - In addition to gifts of publicly traded, appreciated stock and bonds, it is possible to make gifts of appreciated shares of privately held securities. A gift made with closely held securities provides you with the same charitable deduction and capital gains tax avoidance benefits as will a gift of publicly traded securities
Gifts in Kind - Tangible Personal Property - You may choose to give valuable items of tangible personal property. Examples include artwork, rare books and manuscripts, museum-quality artifacts or antiques. Special rules apply for the donation and acceptance of tangible personal property. Please contact the Foundation for more information.
Real Estate - Your personal home and other real property you own are among your most valuable assets. You may donate your real property outright, which could provide you with a double tax benefit. Your income tax deduction is based on the full fair market value of your property, and you can also avoid capital gains taxes on the appreciated portion of the value. Later on, the value of the property you give is sheltered from high estate taxes and probate costs.
Charitable Lead Trust - A charitable lead trust is a plan for giving that can transfer substantial assets to your children or others at a reduced tax cost by directing the income from those assets to the Baltimore Washington Medical Center Foundation for a designated period of time. At the end of said period, the assets are returned to you, your heirs or other persons you name.
Gifts of Retirement Plan Assets - Retirement plan assets make very effective testamentary gifts. Many types of retirement plans are included, the most common being IRAs, 401(k) plans, and 403(b) plans. These assets are often the first choice for a bequest because of the extra tax savings arising from the donation of these assets. Retirement plan assets may be subject to federal estate taxes.
