Planned Giving for Financial Advisors

Gifts of Cash — Detailed Gift Description

If your client wants to help Gaylord Hospital today and maximize her charitable deduction, a cash gift is easy to make and the easiest for us to accept quickly and put to good use -- there is no appraisal to secure, no need to liquidate anything, and no gift acceptance policies to follow.

You client can make a cash gift by check, credit card, or wire transfer. Cash gift instructions are found here.

Maximum tax benefit

Your client can claim the entire value of a cash gift as a charitable income tax deduction. In the year of the gift, your client can claim a deduction up to 50% of her adjusted gross income (AGI). If your client instead used appreciated securities or other assets to make a gift, she would only be able to claim a deduction up to 30% of AGI in the year of the gift. Any unused deduction can be carried forward for up to five additional tax years.

Versatility

Cash gifts are versatile. An outright gift provides immediate benefit to Gaylord Hospital and a maximum tax deduction to your client, but your client can also get a deduction for using cash to partially or fully fund a life-income plan such as a Charitable Gift Annuity, Charitable Remainder Annuity Trust, Charitable Remainder Unitrust, or Pooled Income Fund. She can also use cash to create her own Donor Advised Fund.

Is this gift right for your client?

A gift of cash may be right for your client if:

• Your client wants to make an outright gift in the current tax year.
• Your client wants a charitable deduction to offset the largest possible amount of her taxable income.
• Your client has few appreciated, low-cost-basis securities or other assets to contribute.
• Your client has ample cash sitting idle or generating a low return on investment and wants to make a deductible gift that will pay her an income stream.

In This Section

• How it works / Benefits
• More detail
• Frequently asked questions