Explore the Many Ways to Make a Difference
Your generosity has the power to transform lives and enhance healthcare services in Big Horn County. Whether through a simple cash gift, a thoughtful bequest, or a creative estate planning solution, your contribution supports the mission of the Big Horn Hospital Association Foundation. Explore the various giving options below to find a method that aligns with your personal values and financial goals, allowing you to leave a meaningful and lasting impact on our community.
Cash
One of the simplest ways to give, cash donations can be made by check or credit card. These contributions are deductible if you itemize in the year of the gift.
Stocks, Bonds, and Mutual Funds
Donating appreciated securities provides a charitable deduction for the full fair market value of the asset. If owned for more than one year, the donor avoids capital gains tax and may deduct the full value.
Bank Accounts and CDs
You can name a charitable organization as the “payable-on-death beneficiary” of your bank accounts or certificates of deposit. These assets remain available to you during your lifetime and pass directly to the organization without probate upon your passing.
Real Estate
Donating property that is not mortgaged, has appreciated in value, and is no longer needed allows you to deduct its fair market value and avoid capital gains taxes. This also removes the asset from your taxable estate.
Crops and Livestock
By transferring ownership of a commodity to charity before it is sold, you avoid taxable income from the sale while still deducting production costs. Savings may apply to federal, state, and self-employment taxes.
Retirement Account Assets
Leaving a portion of your retirement account to charity is a tax-efficient estate planning option. Income taxes, which can be as high as 39%, can be avoided, allowing more tax-favored assets to pass to your loved ones.
Life Insurance
If your life insurance policy is no longer needed, consider making it a charitable gift. Designate the charity as the sole beneficiary and receive tax deductions for annual premium payments or the policy’s cash value if it is paid up.
Bequests
Include a charitable organization in your will to designate a specific amount, percentage, or property. Bequests are a straightforward way to leave a lasting legacy.
Charitable Gift Annuity
Make a gift to charity while receiving lifetime income for yourself or someone you designate. The remainder benefits the charity, potentially reducing capital gains, probate costs, and estate taxes.
Charitable Remainder Trust
This trust provides a fixed or variable income to the donor for life or up to 20 years. After the trust term ends, the remaining balance supports the designated charity, with potential income tax benefits.
Charitable Lead Trust
This trust pays income to one or more charities for a set period. Afterward, the remaining assets transfer to family members, offering tax advantages and fulfilling philanthropic goals.
Life Estate
Donate your personal residence, ranch, or farm while retaining the right to live there for life. Receive a current charitable deduction based on your life expectancy and the property’s value.
Each giving method offers unique benefits tailored to meet your financial and philanthropic goals. Consult with your financial advisor to determine the best option for your circumstances.