Mountain Valley Hospice Foundation
The Mountain Valley Hospice Foundation is governed by a volunteer Board of Directors. The purpose of the Board is to direct the planning and financial management of the Foundation, and to direct all of the philanthropic activities to support our hospice.
The Mountain Valley Hospice Foundation was formed in 2013 to encourage gifts in support of our mission from a generous community and supportive local businesses and foundations.
The Board members are deeply committed to and passionate about the mission of the Foundation and dedicate countless hours to advocate and raise critical funding for Hospice.
There are many ways that you can make a gift to Mountain Valley Hospice and some of the most common are listed below along with their tax benefits. Please consult your own professional advisor before considering any type of planned gift.
A Charitable Gift Annuity is a simple contract between a donor and Hospice in which Hospice agrees to pay the donor an income for the rest of his or her life in exchange for a minimum donation.
In a charitable gift annuity, the donation, or principal, is an irrevocable gift which becomes the property of Mountain Valley Hospice upon the death of the donor.
Benefits of a Charitable Gift Annuity
When you compare gift annuity rates with what you might receive from a CD, you will likely be surprised. While rates vary from time to time, a senior might expect a rate of 7%. At that rate, a $100,000 gift would provide $7,000 every year.
When you establish your gift annuity, you receive your payments regularly every quarter, either by check or direct deposit. Whatever you choose, receiving your check on a specific predetermined payment schedule is helpful for planning purposes.
Your payment rate will be locked in at the time you obtain your gift annuity. It will not rise or fall with the economy. Instead, it will be the same amount every year – and that can be important in uncertain times.
Gift annuities are for life. No matter what your age as an annuitant or how long you live, your payments will continue right to the very end. And, if you have a two-life gift annuity, when one person dies, the other can continue to receive the same amount for the rest of his or her life.
Mountain Valley Hospice stands behind all of our gift annuities. State law requires that the donation be put into a trust account. We have a reserve fund set aside to meet our obligations, and what’s more, we back up our obligations with the full financial assets of our organization. You can feel secure and confident that your payments will continue without fail.
Relief from Taxes
Since part of your contribution for a gift annuity is considered a charitable gift by the IRS, you will receive an income tax charitable deduction to apply to your itemized return. Also, during your life expectancy, you will be able to claim part of the annuity payment as tax-free income.
Obtaining a gift annuity is much easier than most people think. We can provide you with a custom illustration, so you can see how it all works with your age and contribution amount, information that you can share with your family and financial advisor.
Other Types of Gifts
Charitable Remainder Trust
This gift was created by the Tax Reform Act of 1969 and has more structure and flexibility than the gift annuity. Documents are prepared by the donor’s attorney. These trusts make payments, either a fixed amount or a percentage of the principal, to designated people for lifetime and then Hospice receives the remainder.
Charitable Lead Trust
This trust makes payments to Mountain Valley Hospice. At the end of a specified time period, the principal goes to the family or designated heirs which is opposite to the Charitable Remainder Trust.
Life Estate Gifts
This is the donation of property and stipulates that donors may continue to use the property as long as they live. Tax deductions are allowed for gifts of farms or personal residences.
Gifts of Real Estate
This donation includes various forms of real estate including: primary residences, vacation homes, farms, undeveloped land and commercial property. If you have been the owner of the property for more than a year, you are entitled to a charitable deduction equal to the full fair market value of the property. Donating property to Hospice may allow you to avoid capital gains on any appreciation.
Gifts of Stock
When you give a gifts of stock or other appreciated assets it entitles the donor to a tax deduction for the market value of the donated stock. If the stock has been held for over a year, you may avoid the capital gains tax on any appreciation by donating the stock prior to the sale.
Gifts of Life Insurance
You may name Mountain Valley Hospice as a beneficiary of your policy or you may make an outright gift to Hospice and purchase a policy to replace the value of the gift.
With a simple phone call to your lawyer, you can change lives for years to come. Please consider a charitable gift.