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Taylor Memorial Care Foundation
Taylor Memorial Care Foundation was incorporated on July 30, 1984. It operates as a non-profit organization for the express purpose of supporting the healthcare activities of Taylor Regional Hospital and itís surrounding communities.
The foundation is dedicated to the improvement of the communityís health and healthcare through the development of financial support from our community, foundations, and various fundraising activities. All resources realized are utilized for the support and improvement of the facilities, equipment, and services of Taylor Regional Hospital.
Why do we need a foundation?
Giving to the foundation
Over the years the R. J. Taylor Memorial Care Foundation has remained committed to the continuous improvement of health care and treatment through education and acquisition of up-to-date equipment. As the official fundraising arm of Taylor Regional Hospital, the Foundation develops programs and opportunities for interested individuals, corporations, service clubs and other organizations to invest in patient care.
While some donors wish to thank the hospital for the care they or their family members have received, others are touched by someone elses story and direct funds to support a particular program. Memorial gifts honor the memory of a family member or friend. Whatever the gift or the reason for giving, donors plays a critical role in patient care at Taylor Regional Hospital.
Through your dedication and generosity, the continuing growth of the Foundation is directly related to the support we receive. We want all donors to feel like part of our family, because their donations are making a tremendous difference to our patients. Your generous financial support is needed to ensure that the highest quality of health care will always be available to future generations.
The R. J. Taylor Memorial Care Foundation offers donors a variety of charitable giving options that benefit both the donors and Taylor Regional Hospital programs and services. Whether it is a gift through a special event, estate gift, endowment, or donation, 100% of your gift will be used to benefit the health of area residents. Following are the various charitable giving options available to you.
Taylor Regional Hospital invites its friends to help meet the challenges of the future through gifts made payable to the R. J. Taylor Memorial Care Foundation. Every dollar given is tax deductible through itemized deduction tax filing. Charitable donations are limited to 50% of your adjusted gross income. However, any unused deductions may be carried over for up to five years.
The Effect on Your Taxes
Charitable gifts to the R. J. Taylor Memorial Care Foundation are exempt from gift or estate taxes.
The Benefits to Use
Cash gifts provide a convenient means of charitable giving and in turn, provide our Foundation with immediate accessible cash. Pledge payment plans are available for donors wishing to make larger gifts over an extended period.
Significant tax benefits are offered to individuals who choose to donate appreciated securities, such as stocks and mutual funds. Appreciated securities transferred to the R. J. Taylor Memorial Care Foundation are tax deductible at fair market value (the mean of high and low sales price on the date of the gift). Donors are not required to pay capital gains tax on appreciated securities that have been held for more than one year.
Through life income gifts, you can leave a legacy gift to the R. J. Taylor Memorial Care Foundation while still receiving a lifetime income for you and/or your spouse or other loved one.
Charitable Gift Annuities
Charitable gift annuities allow you to make a sizable donation while receiving lifetime payments (a guaranteed, fixed-dollar amount) for you and/or your spouse or other beneficiary. Gift rate and tax savings vary for each individual, depending on age and the number of beneficiaries.
Deferred Charitable Gift Annuities
These annuities are similar to charitable gift annuities in that they provide a guaranteed, fixed-dollar payment that will continue the remainder of your life. However, they differ in regards to the onset of payment. Whereas a charitable gift annuity provides immediate payment, the deferred annuity begins on a date predetermined by the donor and agreed upon by both parties.
Charitable Remainder Trust
This gift enables you to make a significant gift to the R. J. Taylor Memorial Care Foundation while providing an income for you and/or your beneficiary. Cash, securities, or properties are irrevocably transferred to a trust that will provide an income to you and/or a named beneficiary during your life. When benefits end, the remaining property is distributed to the Foundation or another organization of your choice. Charitable remainder trusts offer donors two disbursement plans:
Revocable Living Trust
This gift allows a trust company to help you manage your investments during your lifetime. You receive a net income, and you reserve the right to add to or take out principal, money you have put in the pot, and to change or break the trust. They can even pay your bills for you. After your death, it can continue for your spouse or other family members. Ultimately, the remainder can be distributed to your children, other individuals, or the charities you have designated.
Gifts of Unencumbered Real Estate
This gift, when held for more than one year, entitles the donor to a federal income tax deduction equal to the fair market value of the gift. The deduction is limited to 30% of your adjusted gross income; however, any unused deduction may be carried over for up to five years.
Charitable Lead Trusts
Often used as an estate-planning tool, a charitable lead trust enables an individual to make a current donation to the R. J. Taylor Memorial Care Foundation while assuring a substantially larger inheritance for his/her heirs. With this arrangement, the donor transfers assets to a trust, which then distributes income to the Foundation. Once the term, set by the donor, expires, the remainder of the asset is returned to the donor or a named beneficiary.
Contact the foundation
For more information, please contact our Financial Affairs Officer at:
R. J. Taylor Memorial Care Foundation