Ways to Give to Your Hospital
McLaren Oakland Foundation is a 501(c) (3); Tax ID: 20-0442217. A copy of our IRS Determination Letter is available upon request.
Gifts by individuals, corporations, businesses, and foundations can make a positive impact in many ways on McLaren Oakland and the community it serves. Carefully planning your investment at the McLaren Oakland Foundation can stretch the value of your gift, enabling you to do much more for the institution and our community than you may think possible.
A cash gift, check, or credit card
A gift of cash, check or credit card of any amount can be used immediately in the areas to which is designated. A perpetual endowment can be established with gifts or pledges of $25,000 or more. This type of gift generates an annual income for a purpose designated by the donor such as to a department or program, research, nurse support and uncompensated care.
Publicly traded stocks or bonds
These make excellent gifts and can easily be transferred to the McLaren Oakland Foundation. If securities have appreciated, you not only receive the benefit of the full fair market value as a charitable income tax deduction, but you also avoid the capital gains tax if you have owned the securities for more than one year. For assistance with a stock transfer please contact Erinn at 248-338-5384.
Give back while shopping
The “Kroger Community Rewards Program” is an opportunity to donate to McLaren Oakland Foundation each time you shop at Kroger. By enrolling your Kroger Plus card online and linking it to the foundation, every time you use your Plus card at Kroger, The McLaren Oakland Foundation earns a percentage on what you spend. If you have already enrolled, Kroger requires you to re-enroll your charity choice each year.
Please view the form to find specific instructions on how to sign up.
Memorial & Honor gifts
Pay tribute to a special person in your life with a gift in their name to McLaren Oakland Foundation. We will send a letter to the family of the deceased notifying them of your thoughtful gesture. If you prefer the Memorial Gift to be anonymous, please let us know.
Honor Gifts provide meaningful support for McLaren Oakland Foundation , while allowing you to celebrate a person’s special occasion with a personal and lasting tribute.
If you are interested in making a Memorial Gift, please call Erin at 248-338-5384.
A bequest in a will or trust
A bequest stipulates that a specific dollar amount or a percentage of your estate be given to the foundation after your lifetime. Your bequest may be designated as you desire.
Life-income gifts
Life income gifts provide income to a donor and/or another individual, such as a spouse. The donor realizes income tax savings for the year the gift is given to the Foundation. A charitable gift annuity, for example, provides a guaranteed income for a spouse or other loved one, and a deferred income gift annuity provides you with additional retirement income. At the end of the beneficiary’s lifetime(s), the remainder is transferred to the McLaren Oakland Foundation.
Make a Tax-Free Gift with an IRA
If you are 70 ½ years or older, you can take advantage of a simple way to benefit the McLaren Oakland Foundation and receive tax benefits in return. You can give any amount up to $100,000 per year from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Why consider this gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making. You also pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
Life insurance
Life insurance in the form of an old policy no longer needed by the original beneficiary or a newly created policy to benefit the McLaren Oakland Foundation can be a helpful investment in the hospital and community. Small premiums now can generate a major gift in the future, and premiums for these policies may be tax deductible. Many employers provide group life insurance as a benefit and the McLaren Oakland Foundation can be named for a portion of proceeds. This giving vehicle is an important one for young donors who wish to make a leadership gift.
Charitable lead trusts
This will provide income to the McLaren Oakland Foundation over a set number of years and then transfer assets to children or other individual(s) named by the donor. This plan enables heirs to receive assets while minimizing taxes.
Please contact Erinn Groat at 248-338-5384 to discuss these gift opportunities in more detail.