By harnessing the full potential of your assets, you can make a bigger impact than you ever imagined. Charitable giving is not tied up in cash alone — unlock your assets to make a difference at Massachusetts General Hospital.
Buy Low, Give High — Appreciated Securities
Are you looking for a smart way to make a difference while maximizing your tax savings? Consider the power of giving appreciated securities such as stocks, bonds, and mutual funds that you have held for at least one year. By donating these assets instead of cash, you can unlock a range of benefits, including the ability to avoid capital gains taxes and receive a charitable deduction for the full market value of the shares.
How it works:
- The IRS requires that you transfer the shares directly to Mass General — don’t sell the shares. You avoid paying tax on capital gains when you give the shares to charity.
- Mass General will sell the shares, and no taxes will be due on the gain as public charities are tax-exempt.
- You can take an income tax charitable deduction for the fair market value of the shares transferred — up to 30% of your adjusted gross income — which will save you even more in taxes if you itemize deductions.
Solving a Problem — Closely Held Stock and Businesses
By giving shares in a closely held business, you can unlock a range of exciting advantages. Not only can you make a generous gift to support the causes you care about, but you can also enjoy a tax deduction for the appraised value of the shares. As long as you’ve owned them for at least one year, you can avoid capital gains tax.
“Take Me Home, Country Roads” — Use your Real Estate to Make a Difference.
By giving your home, vacation property, commercial building or other real estate to Mass General, you can experience the immense satisfaction of seeing your gift in action. Our team will sell the property and put the cash proceeds to work as you desire. As with other gifts of appreciated assets, you will enjoy the significant advantages of income tax charitable deductions and avoidance of capital gains tax. Did you know you can even give your personal residence or vacation home to Mass General now and continue to use the property? Tax-wise gift arrangements using your assets can help extend your support to Mass General in ways you might have not considered.
For more information on how to unlock the potential of one or more of the above assets, contact the Office of Planned Giving at (617) 643-2220 or mghdevpg@mgh.harvard.edu.
