Planned Giving for Financial Advisors

Gifts for Immediate Use

Outright gifts that can be put to immediate use at Gaylord Hospital are crucial dollars for a charity. Those funds are available for the charitable purposes your client wants to support right now. They are very important to Gaylord Hospital’s day-to-day work, and your client will get an immediate income tax charitable deduction and have the satisfaction of knowing that her gift is having an impact today.

There are many types of assets that can be donated to Gaylord Hospital for immediate use, and several don't affect your client's current cash flow. These assets can also be used to fund other charitable planned gifts, including those that provide your client with life income.

Outright gifts that provide immediate support to Gaylord Hospital include:

• Appreciated stock. Your client can make a gift of low-dividend-producing stock, take a fair market value income tax charitable deduction, and avoid capital gains tax if the stock has been held for over a year. Gaylord Hospital will sell the stock and apply the proceeds immediately to our charitable purposes.
• Business interests. We can accept interests in closely-held companies and other businesses.
• Cash. Cash gifts are immediately available for Gaylord Hospital’s use in furthering our charitable mission.
• Donor Advised Fund (DAF). Your client can advise her DAF trustee to make annual grants to Gaylord Hospital.
• Life insurance. If your client has a policy that's no longer needed, she can donate the policy to us and claim an income tax deduction for the interpolated reserve value.
• Real estate. If your client is holding on to real estate that is no longer used or needed, it can be donated to Gaylord Hospital, and we'll either use the property or sell it and use the proceeds for our charitable mission. We will need to review information about the property to be sure we can accept it.
• Retirement plan distributions. Your client can use retirement plan assets to make a charitable gift. Withdrawals are subject to income tax which is typically offset by an income tax charitable deduction when the asset is donated.
• Charitable IRA Rollover. If your client is at least age 70½, it is possible to make a direct transfer from an IRA to charity without recognizing the transfer as income. The transfer will count toward your client's minimum required distribution. However, you client cannot claim an income tax charitable deduction.
• Tangible personal property. Gifts of artwork, books, furniture or other tangible personal property related to Gaylord Hospital’s charitable purpose will entitle your client to a current fair market value income tax charitable deduction. If the gift cannot be used for our mission, the deduction is limited to your client's cost basis.