The Marquette General Foundation: A Window of Opportunity with your tax stimulus check

Dear Marquette General Foundation supporter:

Tax stimulus checks are in the mail. For many of us, that income comes at a much-needed time to pay off bills, help fund a project or two around the house, or help fund a family vacation.

There’s also another viable option to put the tax rebate check ($600 for single filers, $1,200 for married couples, plus $300 per dependent child) to use: gift a percentage of it to the Marquette General Foundation.

Surveys suggest as many as 48 percent of Americans plan to give at least a portion of their stimulus rebates to a charitable cause.

Even if a small percentage of rebate checks are donated to the Marquette General Foundation, it would make a substantial gift. Remember, you, the donor, can gift to an area that appeals to you, or if you wish, to the area of greatest need. Marquette General has a number of areas seeking philanthropic support, ranging from children’s services to special equipment to building projects.

The rebate is not taxable; however, if it’s gifted to a charitable organization like the Marquette General Foundation, it is tax deductible. What does this mean for you?
Here’s an example. If you’re in a 25 percent tax bracket and gift $1,200 in rebate funds to the Marquette General Foundation, there’s an immediate benefit of $1,200 to the charitable recipient. The donor can then enjoy $300 more in savings at tax time next April, making the total benefit from the rebate $1,500.

Conversely, a donor who saves the rebate might earn 3 percent on a CD. It would take eight years or more to earn as much return as the charitable deduction will bring in the year of the gift.

If there is an area of our regional medical center that appeals to you, please contact us and we’d be happy to work with you on a gift.

We can be reached at 225-6914 or 1-866-906-6914 (toll-free); or by email at mgfoundation@mgh.org. Gift forms are available on our web site here.