LOUISVILLE — A new option for supporting the Baptist Health Foundation, which has a branch that services Baptist Health Hardin in Elizabethtown, and its work offers donors a fixed income stream for life and a tax donation.
The charitable gift annuity program, started in April 2023, allows donors to contribute cash, marketable securities, other appreciated property owned longer than a year or a combination of those. No matter how the charitable gift annuity is funded, the Baptist Health Foundation donor receives fixed payments for the rest of his life, and, in most cases, an upfront deduction for tax itemizers.
“The annual payment is a fixed amount which does not change, based on your age at the time of the gift,” said Stephanie Cieslak, director of planned giving. “After your lifetime, the Baptist Health Foundation uses the remaining balance to support our work to advance health care and the patient experience throughout the Commonwealth and southern Indiana — or at the Baptist Health hospital of your choice.
“Best of all, it’s another way to support Baptist Health by providing advanced technology and equipment, improved facilities, specialized training, support groups, community health screenings and extra services that make a hospital stay more comfortable for our patients,” she added.
A portion of the fixed payments received, which a donor can select to be monthly, quarterly, semi-annually or annually, also can be tax-free for a period of time, based on your life expectancy. Check with your tax advisor to see if your capital gains tax liability would be reduced or eliminated for gifts of appreciated securities.