Bequests – When doing your estate planning you may wish to consider Meadow Brook Medical Care Facility. You can designate a specific use of make a general bequest. Historically, upon receiving larger bequests (($1,000,000.00 or more) the facility has used only the interest earned on the funds to enhance resident services.
Gifts of Real Estate – A gift of property may have appreciated in value so much through the years that it’s sale would mean a sizable capital gains tax. By making a charitable gift of the property, the capital gains tax is avoided and at the same time you would receive full market value for the gift of property.
Life Income Gifts – If you own stock and you receive limited dividends, a life-income may be appropriate. You would transfer the stock to Meadow Brook Medical Care Facility and establish a “Charitable Annuity Trust” or “Charitable Remainder Annuity Trust” that would provide you with a 5% or greater annual return. You would be increasing your income and making a contribution that is tax deductible.
Gifts of Cash – Some employers will match your charitable gifts and in some areas, services clubs like Rotary will match up to a certain amount each year, per member. If you participate in a matching program, simply enclose a form with your check.
Gifts of Stock – If you own stock, it is usually more tax wise to contribute stock than cash. You avoid any capital gains tax on the increase in value and you receive a charitable deduction for the full market value of the stock.
Example: If you purchased stock years ago for $1,000.00 and it is now worth $10,000.00 that charitable contribution tax deduction would be $10,000.00 with no capital gains tax.
Gifts of stock are fully deductible up to 30% of your readjusted gross income.
Gift Ideas – Year end gift giving can reduce your income taxes, while providing support for your residents.
Example: In 2000, if you were in a 31% tax bracket and itemize a $1,000.00 gift, it would save you $310.00 in taxes.
Your charitable gifts make an improvement difference in what we are able to accomplish. We urge you to discuss your tax planning with an accountant or other professional adviser.
Tuition Reimbursement Program – In 2001, Meadow Brook Medical Care Facility established a Tuition Reimbursement Program to assist employees in furthering their career by completing a college nursing program to become a Licensed Practical Nurse or a Registered Nurse. Gifts may be designated directly to the Tuition Reimbursement Program.