SAMARITAN HEALTHCARE FOUNDATION

The foundation supports the hospital district by reviewing healthcare-related requests for funding, and approves grants to support projects and programs at Samaritan Healthcare (a nonprofit municipal corporation) and other organizations serving our community. Our mission: "A charitable organization established to support the community's health and well-being."

There are many ways to support the foundation. Contributions can be made to the broad charitable purpose of the organization, or contributions can be directed to a specific healthcare-related program or project. Please click on any of the following links:

• Cash donations to Samaritan Healthcare Foundation
  
• Bequests through a will or trust
  
• Gifts of appreciated assets
  
• Income for life
  

Information on our organization is available through the following links:

• Internal Revenue Service Form 990
  
• Samaritan Healthcare Foundation Board of Directors
  

Cash donations to Samaritan Healthcare Foundation

Samaritan Healthcare Foundation accepts donations that are unrestricted, donations that are restricted to a particular project or program, or donations to our permanent endowment fund.

Donations that are unrestricted give the foundation the greatest ability to meet the healthcare needs of our community. Our board of directors meets six times a year, reviews funding requests and determines how we can best serve the hospital district. Unrestricted donations can be sent to:

Samaritan Healthcare Foundation
801 E. Wheeler Road
Moses Lake, WA 98837

Donations restricted to a particular project or program are earmarked for a particular purpose. The project or program could be one identified by the foundation as a priority to raise funds for, or it could be a project or program identified by the donor. We will accept these restricted donations as long as the purpose meets the healthcare needs of the hospital district and is realistic. A realistic program or project must make sense for our community.

For information regarding specific projects or programs the foundation is currently raising contributions for, please call Dave Campbell at (509) 764-2904. Donations restricted to a specific fund can be sent to the address listed above. Be sure to write in the memo area of your check which fund you wish to direct your contribution to.

Donations to our endowment fund give donors the satisfaction of knowing their contributions will impact the community into perpetuity. With an endowment fund, the principal is invested and only the income from the fund is spent on an annual basis. Donations to our endowment fund can also be sent to the address listed above. Be sure to write "endowment fund" in the memo area of your check so that we can properly allocate your contribution.

All donations to Samaritan Healthcare Foundation are tax deductible to the fullest extent allowed by law. There are limits on the amount you can deduct from your income tax return. These limits are based on your total income during the year of your gift. Excess income tax deductions can be carried forward over a period of five years.

Please consult with your professional advisers regarding major gifts to charitable organizations, or call our office at (509) 764-2904.

Back to top

Bequests through a will or trust

With a bequest, you may give specific property, a dollar amount or a percentage of your estate. Or you may be interested in a residual bequest, meaning that the Samaritan Healthcare Foundation would receive any property remaining in your estate after all specific bequests (such as to family and friends) have been fulfilled.

No matter which method you choose, bequests to the foundation are tax deductible to the fullest extent of current law and will benefit people close to home. Federal estate tax laws encourage charitable bequests by allowing an estate tax deduction for the full value of the charitable donation. No limit is placed on the amount that can be left to charity and deducted from your estate.

Unless you request that your bequest support a particular program or project, bequests are added to our permanent endowment fund. With an endowment fund, the principal is invested and only the income from the fund is spent on an annual basis. Donations to our endowment fund give donors the satisfaction of knowing their contributions will impact the community into perpetuity.

For a no-obligation confidential meeting held at your convenience, please call our office at (509) 764-2904.

Please consult with your professional advisers for individual legal and technical information pertaining to planned gifts, such as bequests, to charitable organizations.

Back to top

Gifts of appreciated assets

When you donate appreciated assets that you have owned for one year or longer, you are entitled to a federal income tax deduction for the full current value of the asset, the value on the day of the transfer. Federal capital gains taxes, which would have been due upon the sale of the asset, are avoided. You may deduct donations of appreciated assets on your federal income tax return—up to 30 percent of your adjusted gross income. If your gift exceeds the 30 percent threshold, you can use any excess deduction in as many as five tax years.

For example, let's say you purchased 100 shares of Cisco Systems, Inc., on May 25, 1999, at the closing price of $26 3/32 per share: 100 shares x $26.09375 = $2,609.38.

If you transferred these same 100 shares of Cisco Systems, Inc., to a nonprofit organization on May 26, 2000, at the closing price of $54 15/16 per share: 100 shares x $54.9375 = $5,493.75.

(For this example, we have not included a commission or other fees to purchase the shares or transfer the shares later.)

Assuming a federal capital gains tax rate of 20 percent, had you sold the stock, there would have been a taxable gain of $2,884.37 on the shares, which would equate to a federal capital gains tax of $576.87: $2,884.37 gain in value x 20 percent = $576.87.

What this means for you:
Transferring the stock directly to a nonprofit organization eliminates the federal capital gains tax. This makes the net cost of your gift $2,609.38 before reducing this amount even further by getting a federal income tax deduction for your donation: $2,609.38 - $576.87 = $2,032.51.

What this means to the nonprofit organizations:
They get the full current value of the stock, since charitable organizations do not pay federal income taxes or capital gains taxes. They can either keep the stock or liquidate the stock for cash with no taxes due.

Your tax situation may be different than the tax situation depicted in this example. Please consult with your professional advisers for specific, individual advice pertaining to gifts of appreciated assets.

Back to top

Income for life

Another example of income for life is giving the house you own and live in to a charitable organization. You receive an income tax deduction in the year the gift is completed and continue to live in the home until your death.

These types of plans allow donors to minimize their estate and gift taxes. For additional information on income-for-life plans, please call our office. We can set up a no-obligation, confidential meeting held at your convenience.

Back to top

Internal Revenue Service Form 990