Approaches to Giving

Learn more about ways to donate to the Seneca Healthcare Foundation

By making an outright gift, you can transfer cash or other assets to the Seneca Healthcare Foundation and enjoy an immediate tax benefit.

Accepted Asset Types:

  • Cash
  • Marketable securities (stocks, bonds, mutual funds)
  • Real estate
  • Personal property and closely held “assets”

A qualified charitable distribution (QCD) is a distribution from your individual retirement account (IRA) to a qualified charity. You must be age 70½ or older to make a QCD. A qualified charitable distribution is not taxed, nor is it included in your taxable income.

Work with the Seneca Healthcare Foundation to ensure your charitable intentions are met long after your lifetime.

Including a charitable bequest in your will is a simple way to make a lasting gift to healthcare in your community. Your gift can be endowed so that it benefits the community forever and becomes your personal legacy of giving.

Upon a person’s passing, balances in individual retirement accounts (IRAs) and retirement plans are considered when calculating estate and income taxes for beneficiaries. By funding a charitable bequest with an IRA or retirement plan, you can prevent the bequest from becoming a liability to your estate, and the gift is made with pre-tax dollars.

A Charitable Remainder Trust (CRT) is a common and effective estate planning tool designed to reduce the taxable income of individuals. A donor may use a CRT to disperse income to the trust beneficiaries (such as a spouse or other family member) for a specified period and donates the remainder to the designated charity.

A Charitable Lead Trust (CLT) is the reverse of the Charitable Remainder Trust. The Trust distributes income to a charity for a period of years or throughout your lifetime with the assets returning to you, or more typically, to family members. The CLT allows you to make a significant gift to charity and transfer assets to family members with reduced or no gift and estate taxes.

The Seneca Healthcare Foundation is looking into how to accept gifts of real estate. If you would like to talk with the Foundation about this please call 1(833)227-3743 ext 1600 or email foundation@senecahospital.org

If you are interested in generating a secure stream of income, reducing taxes, and helping the community with a charitable gift you may be looking for a planned life income gift. Please contact the Seneca Healthcare Foundation at foundation@senecahospital.org to learn more about these options.

Connect with us to find out if the company you work for provides matching funds. foundation@senecahospital.org or call 1(833)227-3743

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