Plan to Give to Haven
If you’re interested in helping the patients and families Haven serves and learning about tax benefits, we hope you’ll ask Haven’s professionals to assist you. It’s a privilege for our Development team to work with you to achieve your goals. We will address the following:
- Who would you like to assist?
- How long do you wish to provide this assistance?
- What is the real cost to provide this assistance?
- Can you increase your income and lower your taxes while providing this assistance?
A detailed discussion of how our team can help you, your family, friends and community will follow. Our team can show you how you can make a gift and, in return, receive the lowest cost of any asset within your overall estate.
Does this sound too good to be true? Let’s look at some ways donors are planning their gifts and helping people, themselves included, at the same time.
Hank and Kay want to share an outright gift of cash to help two patients for two months. Because the cost of helping a Haven patient is $206.12 per day, we know that Hank and Kay are dedicated to sharing a gift of $12,367.20. This gift would allow for a charitable contribution deduction of the full fair market value of their gift if they itemize their deductions.
When we asked Hank and Kay if they own some stock, they answered yes. Like many stocks, theirs pays little in dividends but does have a large fair market value. They own 1,250 shares of stock with a cost basis of $937.50 and a fair market value of $21,912.50, which they are willing to share as a gift.
Hank and Kay decided to share the gift of stock rather than writing a check, which did not affect their spendable income. Thus, they received a charitable contribution deduction for $21,912.50 rather than $12,367.20.
- Their cost if they write a check — $12,367.20
- Their cost if they give stock — $937.50
- Hank and Kay just saved $11,429.70 and helped an additional patient
If they had sold their stock and sent a check, they would have paid capital gains tax. By giving the stock directly, they avoided paying capital gains tax.
If you’d like to help provide care to a Haven patient, and enjoy the benefits of sharing a gift, our specially-trained professionals want to help you fulfill your wish to help others. We look forward to hearing from you.