Carolinas HealthCare Foundation offers a variety of charitable giving options that may benefit both Carolinas HealthCare System and donors. Your gift can benefit vital hospital and healthcare programs, while you recognize significant tax savings and in certain cases receive lifetime income.

Our staff is always available to assist you in achieving your tax, estate planning and charitable giving objectives. We would welcome the opportunity to discuss these matters with you and your financial advisors. To discuss gift opportunities, call (704) 355-4048, or contact us online.

Memorial/ Honorary Gifts
Grateful Patient Gifts
Matching Gifts
Current Gifts
Appreciated Securities
Real Estate
Tangible Personal Property
Charitable Lead Trusts
Deferred Gifts
Life Estate Agreements

• Memorial/ Honorary Gifts
  Commemorative and memorial gifts can be made in honor of a family member or friend. The Foundation forwards appropriate notifications to individuals and families as specified by the donor.
• Grateful Patient Gifts
  Grateful patients and families often desire to make gifts in honor of physicians, nurses, therapists, or other hospital staff. Such gifts are always acknowledged in accordance with the instructions of the donor.
• Matching Gifts
  Many companies match donations made by employees. Please check with your human resources office to determine if your gift to Carolinas HealthCare Foundation qualifies. Your company may match or even double your gift to the Foundation.
• Current Gifts
  Cash Gifts
  A gift by check is the most common and convenient way to give to Carolinas HealthCare Foundation.
  
  Federal income tax charitable deduction
  If you itemize your deductions, cash gifts are fully deductible for federal income tax purposes up to a limit of 50% of your adjusted gross income (AGI). If the cash gift exceeds this limit, any unused deduction may be carried over for up to five years.
  
  Gift and estate taxes
  A charitable gift to Carolinas HealthCare Foundation is not subject to gift or estate taxes.
• Appreciated Securities
  Gifts of appreciated securities, such as stocks and mutual funds, may offer significant tax advantages to the donor.
  
  Federal income tax charitable deduction
  Individuals who donate marketable securities, held for over one year, are entitled to a federal income tax charitable deduction equal to the full fair market value (FMV) of the gift. Although this deduction is subject to an annual limit of 30% of your adjusted gross income, you may carry over the remaining unused deduction for up to five years. (The FMV is determined by the averaging of the stock’s high and low trading prices on the date of the gift.) If securities have been held for a year or less (short-term), the gift deduction is limited to the securities' cost basis.
  
  Capital gains tax avoidance
  Individuals holding securities that have increased substantially in value may find themselves facing significant capital gains taxes on the sale of these assets. For those individuals interested in making a charitable contribution, an alternative exists. Individuals making a donation to Carolinas HealthCare Foundation may receive an income tax deduction for the full value of the securities and will avoid capital gains taxes.
  
  Gift and estate taxes
  A gift of appreciated securities to Carolinas HealthCare Foundation is not subject to gift or estate taxes.
  
  Gifts of closely held stock
  An owner of closely held stock may give the stock to Carolinas HealthCare Foundation and receive important financial benefits.
  
  Closely held corporations are corporations whose stock is owned by family members and/or by business associates. The stock is not publicly traded, and in most cases there are restrictions on the transfer of the stock to third parties.
  
  Donors considering a gift of closely held stock must not enter into a prior written agreement with either the closely held corporation or a potential third-party purchaser. The transfer should be an arms-length, independent transaction.
  
  In an outright gift of closely held stock, the donor typically transfers stock to Carolinas HealthCare Foundation. To determine value, the donor has the stock appraised and obtains a charitable income tax deduction equal to the appraised value of the stock. The appraisal must be conducted by an appraiser who is knowledgeable in establishing the value of closely held stock. Carolinas HealthCare Foundation may then allow the corporation to redeem the stock, receiving a check for the redemption price.
  
  Donors who wish to make gifts of closely held stock should consult with their attorneys or tax advisors. The Foundation will review all proposed gifts of closely held stock to ensure that acceptance is appropriate.
• Real Estate
  Carolinas HealthCare Foundation can accept gifts of almost any type of real estate (personal residence, vacation home, agricultural land, commercial property and undeveloped land). Gifts of real estate offer many of the same benefits as gifts of appreciated securities.
  
  Federal income tax charitable deduction
  An individual who donates unencumbered real estate, held for over one year, is entitled to a federal income tax charitable deduction equal to the full fair market value (FMV) of the gift. Although this deduction is subject to a limit of 30% of your adjusted gross income, you may carry over the remaining unused deduction for up to five years.
  
  Capital gains tax avoidance
  A donation to Carolinas HealthCare Foundation may allow for an income tax deduction for the FMV of the gift and no capital gains will be realized.
  
  Gift and estate taxes
  A gift of appreciated property to Carolinas HealthCare Foundation is not subject to gift or estate taxes.
  
  Carolinas HealthCare Foundation will review all potential gifts of real estate prior to acceptance to ensure that acceptance is appropriate and does not impose liability on the Foundation.
• Tangible Personal Property
  Donors may want to consider benefiting others by contributing gifts of tangible personal property such as gifts of art, valuable collections, antiques, boats, or other items. A gift of personal property to Carolinas HealthCare Foundation during your lifetime will serve to reduce your taxable estate, as well as to generate an income tax deduction in the year the gift is made.
  
  If the personal property is held for over one year and is related to the charitable function of Carolinas HealthCare Foundation (generally, for art and antiques, this will not be the case.), the donor is entitled to deduct the full fair market value of the property (up to 30% of the donor's adjusted gross income, with the ability to carry over for up to five years). If the property has been held for a year or less or is unrelated to the exempt purposes of the Foundation, the donor's deduction is limited to the cost basis of the property.
• Charitable Lead Trusts
  Charitable lead trusts are often utilized by donors as an estate planning tool. Creating a charitable lead trust may allow a donor to make a gift to Carolinas HealthCare Foundation while passing a substantially larger inheritance to his or her heirs than could be left using various traditional planning mechanisms.
  
  The charitable lead trust may be viewed as the inverse of the charitable remainder trust. Under a charitable lead arrangement, a donor places assets in a charitable lead trust that then distributes income to Carolinas HealthCare Foundation for a term of years or for one or more persons' lifetimes. After the term of the trust has expired, the remainder returns to the donor or transfers to named beneficiaries.
• Deferred Gifts
  Estate Gifts
  These gifts are associated with the distribution of an individual's property after death.
  
  Bequests
  Donors who would like to retain full use of their property during their lifetime may choose to make a gift by will. All bequests to Carolinas HealthCare Foundation qualify for an unlimited estate tax deduction.

  General bequest Carolinas HealthCare Foundation receives a specific sum of money, or a percentage of the donor's estate to the Foundation. Specific bequest Carolinas HealthCare Foundation receives a specific asset. Residuary bequest Carolinas HealthCare Foundation receives what is left, or a percentage of what is left, after all specific bequests and estate-related debts, taxes and expenses are paid. By making a bequest of the residue of your estate, you can ensure that your charitable contribution will take effect only after you provide for your loved ones. Contingent bequest Carolinas HealthCare Foundation will receive a bequest in the event that other bequests are not possible (due to death of an heir or some other reason). If you already have a will in place and would like to add a bequest to the Foundation, you may do so through a codicil to your will. Your attorney can assist you in this process. We can assist in providing the appropriate verbiage. Testamentary Trusts In your will, you may direct a portion of your estate to go to a trust. A testamentary trust enables you to provide life income to a beneficiary with the remainder to go to Carolinas HealthCare Foundation upon the death of the beneficiary or at the end of the trust term. Suggested Bequest or Trust Language Bequests reflected in trust or will documents should be made to "The Carolinas HealthCare Foundation, Inc." (The Foundation is a 501 (c)(3) charitable organization, Federal Tax ID #56-6060481. Our tax exemption letter is available upon request.) Bequest language may also indicate that the bequest is to be designated for the benefit of a particular charitable fund at the Foundation (i.e. "for the benefit of The Carolinas Heart and Vascular Institute Fund" or "for the benefit of The Carolinas ALS Endowment"). Alternatively, bequests to the Foundation may be designated for a particular facility or program within Carolinas HealthCare System (i.e. "for the benefit of Levine Children's Hospital at Carolinas Medical Center" or "for the benefit of brain injury programs Carolinas Rehabilitation"). Bequest designation language may also be provided outside the will through a letter to Carolinas HealthCare Foundation, which we will maintain in our files. We recommend this latter approach as it gives the Foundation the opportunity to ensure that we fully understand the donor's wishes while the donor is still living. Life Insurance Policies Donors can support Carolinas HealthCare Foundation with gifts of life insurance policies that are no longer needed. Contributing a life insurance policy may also be a way to make a larger gift, at a lower cost. Simply complete the insurance company's assignment form, naming the Foundation as both owner and beneficiary of the policy. You will receive a tax deduction for the lower of the replacement cost or the cost basis of the policy. No current income tax deduction is available to individuals who simply name Carolinas HealthCare Foundation as the beneficiary of a life insurance policy, but the proceeds payable at death will not be subject to estate tax as they otherwise would. Retirement Plan Assets Retirement plan assets held at death may be subject to "double" taxation, with income and estate taxes owed. Due to the harsh tax treatment assessed against these retirement plan assets, donors may want to consider the substantial benefits of using these assets to achieve their charitable objectives. These benefits may include avoidance of income tax on the remaining assets as well as an estate tax charitable deduction for the value of the gift. Donors may choose to make a charitable bequest of assets in IRAs, 401(k) plans, 403(b) plans, qualified pension or profit-sharing plans, as well as other retirement savings accounts. The donor should notify the retirement plan administrator that he or she wishes to name Carolinas HealthCare Foundation as a beneficiary. If you are married, you must also obtain a written waiver from your spouse prior to naming any charitable beneficiary for your retirement plan. Life Income Gifts Donors may make a gift to Carolinas HealthCare Foundation and still receive continuing financial benefits from the assets given. Benefits may include: a stream of income for the lifetime of the donor and/or the donor's spouse (or another beneficiary) a charitable income tax deduction an opportunity to establish an endowed fund in the donor's name or the name of a loved one possible avoidance of capital gains taxes on gifts of appreciated property a higher yield compared with current investments a reduction in federal estate taxes. Charitable Remainder Trusts A charitable remainder trust (CRT) is a gift arrangement that allows you to make a gift to Carolinas HealthCare Foundation, provide an income stream for yourself and/or another beneficiary, and realize significant tax savings as well. In creating a charitable remainder trust, the donor irrevocably transfers money or property to a trust. The trustee then distributes a specified annual income to the donor and/or another designated beneficiary for life, or a term of years, and when the income benefits end, the remaining property will be distributed to Carolinas HealthCare Foundation. A charitable remainder trust provides a donor with lifetime income and a charitable income tax deduction. The donor, in conjunction with the charity, selects the payout rate, usually between 4% and 7%. The higher the payout rate, the lower the charitable income tax deduction. This gives the donor, and possibly the donor's spouse, an income every year for life. If the donor funds the trust with appreciated property, the donor will avoid capital gains taxes. The donor may choose the trustee to manage the trust. The trustee may invest in almost any investment, including tax free bonds. Donors may choose from two types of charitable remainder trusts-- the annuity trust and the unitrust. Annuity trusts The annuity trust pays a fixed, guaranteed dollar amount regardless of the trust's investment performance. The income rate is determined at the time the trust is funded. The annuity trust is best for donors who seek a regular, fixed income and prefer to have the satisfaction of knowing the amount of the payment in advance. Unitrusts Alternatively, the charitable remainder unitrust pays the donor a predetermined percentage of the fair market value of the trust's assets, which are revalued annually. If the trust's assets increase, the donor receives a larger payment, providing a hedge against inflation. Additional contributions may be made to a unitrust. Summary of Benefits for CRT's: Avoid capital gains taxes on the transfer of appreciated property. Increase income payout from low yielding assets. Obtain a charitable income tax deduction. Provide income to one or two beneficiaries for life. Establish an endowed fund at Carolinas HealthCare Foundation through the trust. Donors concerned that a gift to charity would reduce the inheritance that their heirs might receive may want to consider creating a wealth replacement trust as well. A wealth replacement trust is a life insurance trust that may be used in conjunction with a CRT to replace the asset value given to charity and achieve estate tax benefits at the same time.

• Life Estate Agreements
  It is possible to make a gift of your personal residence or farm to Carolinas HealthCare Foundation, but retain the right to use the property for the duration of your life and possibly your spouse's. Donors are entitled to an income tax deduction derived from their ages, as well as the value and the useful life of the property. Continued maintenance and the payment of taxes and insurance-related costs associated with the property will remain the responsibilities of the donor.

This information is provided to inform you about the wide range of charitable giving options available to you. We welcome the opportunity to discuss these options further with you and your advisors. Please consult with your attorney or other financial advisor to evaluate the legal and financial consequences of your individual situation.