Gifts that Give Back

September 22, 2017

George Albrecht started cardiac rehabilitation at SSM Health St. Clare Hospital – Baraboo after his first heart surgery in 2006.  Over 907 visits later, Albrecht recently shared that cardiac rehabilitation “gave him his life back.” He believes it’s important to support programs that have been vital to him, so he has financially supported Cardiac Rehabilitation throughout the years to help “others stay as strong as possible.”
 
Gifts to the Foundation, much like Albrecht’s, may be made in many forms and often provide the donor with significant tax advantages. With the recent uptick in the stock market, portfolios have appreciated and may require the owners to pay capital gains. To re-balance his financial position, Albrecht donated stock to the SSM Health St. Clare Foundation, providing him with a tax deduction and no capital gains requirement.  The Foundation subsequently sold the stock and used the funds to purchase a much-needed treadmill for Cardiac Rehabilitation.
 
Other opportunities exist like donating all, or part, of a required minimum IRA distribution. The IRS requires individuals age 70 ½ and older to take a required minimum distribution from an existing IRA whether the income is needed or not. These annual withdrawals are subject to income tax.  By making a charitable donation from the IRA, the donor could satisfy the required minimum distribution without reporting additional income.
 
For further information regarding donations, the Foundation’s Board recommends contacting your financial advisor or the Foundation Office at (608) 356-1449.



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