Rusk Institute of Rehabilitation Medicine Gift Planning
Gifts of CashMost gifts made to the NYU Hospitals Center are gifts of cash. A cash gift enables you to deduct contributions up to 50 percent of your adjusted gross income. Any excess amount may be carried forward for up to an additional five years.
Gifts of Appreciated Securities
A gift of appreciated securities that you have held for at least a year and one day is frequently the most beneficial way to give. You will be eligible to take a federal income tax deduction equal to the fair market value of the stock on the date of the gift, for up to 30 percent of your adjusted gross income. You will not have to recognize the appreciation as capital gain. For details on how to make a gift transfer of securities, see Instructions for Transferring Securities in this section.
Gifts of Personal Property
Gifts of valuable works of art, antiques, ancient manuscripts, collectibles, jewelry and other property may also be given to the NYU Hospitals Center if they are accompanied by a letter of appraisal from a bona fide expert or certified appraiser. The charitable tax deduction on gifts varies according to whether or not they are related to the charitable mission of the NYU Hospitals Center. To learn more, please contact the Office of Gift Planning.
Gifts of Real Estate
You may choose to make a gift of appreciated marketable real estate either as an outright gift or for the purpose of establishing a Charitable Remainder Trust for the ultimate benefit of the Hospitals Center. An outright gift of real estate may entitle you to a federal income tax deduction equal to the appraised fair market value of the property. You may deduct up to 30 percent of your adjusted gross income and carry any excess not utilized in the year of the gift for up to an additional five years.
Establishing a Retained Life Estate with your permanent residence, vacation home, or farm, offers another giving option. You may give a remainder interest in your property to NYU Hospitals Center while you and your spouse retain the right to live in and maintain the home for life. You will be entitled to a charitable deduction in the year you establish the retained life estate, will avoid capital gains tax, and lower your estate tax liability. Ultimately, the remainder interest in the property will go to the NYU Hospitals Center.
To learn more about making a gift of real estate, please contact the Office
of Gift Planning and your attorney.
Gifts of Life Insurance
You may wish to make the NYU Hospitals Center the beneficiary or owner of
a life insurance policy. Please contact the Office
of Gift Planning to learn
more about making a gift of life insurance.
