Methods Charitable gifts can take many forms. All gifts, of any size, are tax-deductible to the extent allowed by law, and are greatly appreciated. Outright Gifts Cash - Gifts of cash, by check or credit card, are available for immediate use by the hospital and are normally fully deductible, to the extent allowed by law, for donors who itemize deductions. Other Assets - Gifts of real estate, art objects, personal property and life insurance may be used to make a charitable gift. Pledges - Pledges provide prospective donors with additional flexibility in planning a gift and often enable a larger donation.
Donors make a pledge commitment over a mutually agreed upon period of time.
Planned or deferred gifts may save taxes and fulfill your charitable plans. Life Income Gifts Charitable Remainder Unitrust Charitable Remainder Annuity Trust Life income gifts provide the donor with income while making a deferred gift to New Milford Hospital. These life income trusts are usually managed by an external trustee designated by the donor. Life income gifts can offer an immediate income tax deduction. The donor can designate New Milford Hospital as the beneficiary of a life insurance policy.