As a not-for-profit institution, Virginia Gay Hospital Health Care Foundation relies on the generosity of the community to strengthen our funding resources – allowing us to provide quality programs, services, technologies, and education to our patients.
Every gift – no matter how large or small – makes an enormous difference in the lives of those we serve.
You can designate the Virginia Gay Hospital Health Care Foundation to receive estate assets in the future, or you can make immediate gifts to us of assets that are “out of sight and out of mind.” We call these “Gifts Anyone Can Afford” because anyone can make them now without impacting their current cash flow, lifestyle, or family security.
You can learn numerous ways to donate to the Virginia Gay Hospital Health Care Foundation below. For questions or assistance, call Robin Martin at our office at 319-472-6375 or write us at 502 N. 9th Ave., Vinton, IA 52349.
A gift by a personal check or through a credit card is the most popular way to give to the Virginia Gay Hospital Health Care Foundation. You receive a full tax benefit if you itemize deductions. Checks should be made payable to the Virginia Gay Hospital Health Care Foundation or place a donation online here. A cash gift provides an immediate impact on Virginia Gay Hospital.
Your gift of appreciated marketable stocks or mutual fund shares will provide a significant benefit to Virginia Gay Hospital Health Care Foundation and may offer you important tax benefits. Consider transferring them to the Virginia Gay Hospital Health Care Foundation. You will not incur sales expenses and you will not generate a taxable capital gain.
If your securities have decreased in value since you acquired them, it may be to your advantage to sell them, report the capital loss deduction, and donate the proceeds.
If you hold highly appreciated but low-yield stocks, consider using them to fund a charitable remainder trust or a charitable gift annuity at the Virginia Gay Hospital Health Care Foundation. You can receive a long-term income stream while minimizing your taxable capital gains.
For information on transferring stock or shares of a mutual fund, please contact call Robin Martin at 319-472-6375 or write us at 502 N. 9th Ave., Vinton, IA 52349.
Farm Land Bequests
As a financially healthy, completely independent small hospital, the Virginia Gay Virginia Gay Hospital owes a debt of gratitude to area farmers, past and present. Farm support for Virginia Gay was pivotal during the Great Depression, and again during the ag economy recession of the 1980’s. Today, a volunteer Farm Committee manages tenant relationships and provides conscientious stewardship of land gifts donated by area families.
“Many large hospitals sell gifts of land,” says Dean Schminke, a member of the Farm Committee. “I suppose for them the cost of management and unfamiliarity with agriculture make keeping ag land unattractive. Because we have dedicated Farm Committee members who volunteer their time and expertise, the roughly 800 acres will remain an enduring asset for Virginia Gay.”
Current members of the committee managing Virginia Gay’s land gifts include Dean, Marty Ternus, John Ketchen, Kyle Schminke and Pete Burmeister. Dean also wanted to make special mention of former member Warren Gulick. “Warren was just a great member of the group for many years and those of us who served with him really miss having him work with us.”
“We meet three or four times a year and our primary responsibility,” says Dean, “is taking care of the land we’ve been entrusted with. Getting a fair rent compared with the neighborhood comes second.”
Advice from “Practical Farmers of Iowa” about land gifts include discussing gifts in advance with your heirs, and also having a discussion with the charity regarding your wishes for use of the land. For additional information or to begin a discussion with Virginia Gay Hospital Health Care Foundation regarding a farm land bequest, please contact Robin Martin.
Current Farm Committee members include:
A gift of personal property is a way to make a difference at VGH at little cost. If you donate a work of art, mineral interests or other tangible personal property that can be used or sold by the Foundation, you can take a charitable deduction and reduce future estate taxes. Please contact the Virginia Gay Hospital Health Care Foundation office for more details.
Thinking of selling your home, commercial building, or investment property? Enjoy tax benefits, generate income, and help Virginia Gay Hospital Health Care Foundation with a gift of real estate.
A concern of real estate owners with property that has significantly appreciated in value is that much of their profit from a sale will be consumed by capital gains taxes. If this describes your situation, you may want to consider making a charitable gift of your real estate instead of selling it. By giving property to the Virginia Gay Hospital Health Care Foundation, you will not have to pay capital gains tax, you may be able to take a substantial income tax deduction, you may choose to receive income for life, and you will have the satisfaction of providing significant support to VGH.