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We would be happy to discuss the many giving options for the University of Missouri Health Care, please contact us or call us at (573) 884-0724. If I make a gift to University of Missouri Health Care, will I receive a tax deduction? Will I receive a tax receipt when I make a donation? I am planning an event to raise money for Children’s Hospital. Is there anything I need to know? Does the Hospital accept donations of used toys? How can I make a contribution in honor or memory of a friend, family member or health care provider? Can I give by payroll deduction? I would like to designate my gift to a particular hospital, program or department within University of Missouri Health Care. How can I accomplish this? Gifts may be designated for a particular hospital, program or department within University of Missouri Health Care in the following ways:
Gifts may also be designated both for programs within University of Missouri Health Care and for other departments or programs. Unrestricted gifts are also welcome. If I make a gift to University of Missouri Health Care, will I receive a tax deduction? The following general information applies in most cases. Consult your financial advisor to determine the tax consequences of your particular gift. Cash gifts are one hundred percent deductible. Donors may deduct up to fifty percent of their adjusted gross income (AGI) for any single year. There is a five-year carry forward period for gifts in excess of that fifty percent. For gifts of securities that are held long term (one year and one day), a tax deduction is full fair-market value of securities, deductible up to thirty percent of AGI, with a five-year carry over period where the deduction exceeds that thirty percent. Gifts of securities that are held short term (one year or less). A tax deduction is cost basis (what the donor paid to acquire it). Real estate gifts that are held long term (for one year and one day) are deductible at full fair market value. They are deductible up to thirty percent of adjusted gross income with a five-year carry forward period. Real estate gifts that are held short term (one year or less) are deductible at the cost basis of the property (what donor paid to acquire it). The donor may deduct up to fifty percent of their adjusted gross income with a five-year carry over period for any excess of this amount. Gifts of tangible personal property held long term (one year and one day) that can be put to use in some aspect of University of Missouri Health Care activities are deductible at full fair market value. These gifts are deductible up to thirty percent of adjusted gross income with a five-year carry-forward period for any excess. Gifts that are unrelated to University of Missouri Health Care purposes are deductible only at the cost basis of the item. Gifts of tangible personal property held short term (one year or less) are deductible only for the cost basis, regardless of the use. Gifts of life insurance: the deduction is replacement cost of policy or the cash surrender value (determined on a case-by-case basis) for a paid policy. If there are premiums left to be paid, the deduction is generally slightly more than the cash surrender value. If the donor continues to make premium payments, such are considered gifts to University of Missouri Health Care and are income tax deductible. Gifts of life insurance policies must name University of Missouri Health Care as the beneficiary and irrevocable owner of the policy prior to acceptance. Bequests have no income tax implications. A gift to University of Missouri Health Care is deductible from the taxable estate of the donor/decedent. Life income agreements: the donor may deduct the present value of the remainder interest. The Office of Development can provide sample tax deduction calculations for illustration purposes. Gifts to MU are deductible depending on type of property used to fund trusts up to thirty percent or fifty percent of AGI with a five-year carry-over for any excess. Will I receive a tax receipt when I make a donation? Yes. You will receive a written acknowledgement of your contribution which may be used for tax purposes. Please note that in the case of gifts other than cash, it is the donor’s responsibility, under the Internal Revenue Service rules, to determine the value of the contribution. I am planning an event to raise money for Children’s Hospital. Is there anything I need to know? Yes. Read our fundraising guidelines and submit the attached application form before planning your event. Does the Hospital accept donations of used toys? University of Missouri Health Care is unable to accept donations of used toys for infection control reasons. However, gifts of new toys, books, videos and similar items for playroom use are greatly appreciated. How can I make a contribution in honor or memory of a friend, family member or health care provider? If mailing your gift, please enclose with your donation a note that tells us the name of the person being honored or remembered and provide us with the name and address of anyone who should be notified of your gift (for example, the honoree’s spouse or child.) The amount of your contribution will remain confidential. Can I give by payroll deduction? Employees of University of Missouri Health Care may give by payroll deduction. Many other employers may offer a payroll deduction option for gifts to qualified charities like University of Missouri Health Care. Check with your Human Resources Department to learn if this is available where you work. Gifts are always used in the manner specified by the donor. If your gift is not designated for a specific purpose or program, it will be used for the most important and pressing needs existing at the time of the gift. See our Donor Bill of Rights for more information. |
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