Scientific discovery and medical innovation have always been the hallmarks of Massachusetts General Hospital. While delivering the very best healthcare in a safe, compassionate environment, physicians, scientists, nurses and staff explore ways to improve medicine. They continually strive to advance care through groundbreaking research and education.
There are many ways to give in support of this trailblazing work today and in the future, and most options offer substantial tax savings each and every year. Below are some popular giving options to consider.
Donor Advised Funds
Donor advised funds (DAFs) can provide immediate tax benefits while simplifying your charitable giving. If you already have a DAF, contact your fund administrator to make a donation to Mass General.
In addition to outright gifts from your DAF, you can extend your support by designating Mass General as a beneficiary to receive a portion of the account value in the future. To update your beneficiaries, contact your DAF administrator. You will need to provide our legal name, Massachusetts General Hospital, and our federal tax ID, 04-1564655. If you include Mass General in your plans, please let us know.
Individual Retirement Accounts
If you’re at least 70½ years old, you can make a qualified charitable distribution from your Individual Retirement Account (IRA) to Mass General and, for federal tax purposes, exclude those funds from your gross income. Simply instruct your IRA administrator to directly transfer a gift of up to $105,000. It will count toward your required minimum distribution this year and help Mass General deliver quality medical care in our community and around the world.
Stocks and Bonds
Use your appreciated securities to support Mass General and qualify for a charitable deduction while reducing your capital gains tax simultaneously. You can make an immediate impact by transferring shares of one or more publicly traded securities, such as stocks, bonds and mutual funds, directly to Mass General. If you choose to donate in this way, please contact us for transfer instructions.
Charitable Gift Annuities
If you are at least 60 years old, a charitable gift annuity (CGA) established with your gift of cash or securities offers increased income through fixed lifetime annuity payments. A CGA also provides an income tax deduction along capital gains tax relief, too. Gift annuities at Mass General may be established with a gift of $10,000 or more.
Reach Out
By taking advantage of tax laws, you will find that you can make a generous gift that supports life-saving initiatives at Mass General and reduces your tax bill all at the same time.
To learn more about how you can make the most of your IRA and other tax advantageous gifts to support Mass General, please contact the Office of Planned Giving at mghdevpg@mgh.harvard.edu or 617.643.2220.
