Planned Giving at Newport Hospital
You can use planned giving to provide meaningful support for Newport Hospital and carry on the tradition of philanthropy that supports our unyielding pursuit of excellence in patient care, respect of the individual, and the creation of a measurably healthier Newport County. Without this crucial support the hospital would not be able to provide the high level of care and commitment, for which we are renowned, to our patients and the community.
The Living Heritage Society honors our generous donors who have made a planned gift, or included the hospital as a beneficiary of their estate plan, retirement account, investment account, or life insurance policy.
How The CARES Act Impacts Charitable Giving
This recently passed law includes several provisions to encourage charitable giving including:
- A new deduction for donors who do not itemize when filing their tax returns. If you do not itemize but make a cash gift to qualified charities like Newport Hospital, you will be allowed to deduct up to $300 to potentially reduce your tax liability.
- An increase in the charitable deduction limit up to 100% of a donor’s adjusted gross income for gifts. Previously, the deduction was capped at 60% of annual income. If you make a gift to support Newport Hospital you may be able to deduct more this year than in previous years.
Leave a Lasting Legacy
Planned giving offers many options to help you make a charitable gift while deriving financial benefits, including income for life for you or another, and an immediate one-time charitable income tax deduction for a portion of your gift (in the year of the gift.) In many cases a planned gift can allow a donor to make a stretch gift and receive an income stream in return.