Rush Medical Center Home Page Information for healthcare Professionals Rush University
FIND A DOCTOR
PATIENT & VISTOR SERVICES
HEALTH INFORMATION
CLINICAL SERVICES
EVENTS & CLASSES
RUSH NEWS ROOM
CLINICAL TRIALS
RESEARCH AT RUSH
NURSING AT RUSH
WORK AT RUSH
GIVING TO RUSH

Bookmark This Page
Giving to Rush Gifts of Real Estate, Property, Life Insurance

There are a number of other non-cash outright gift options that can also benefit Rush University Medical Center in Chicago. These options include the following:

Real Estate
Appreciated real estate (a principal or vacation residence, a farm, a commercial building or unimproved land) is a wonderful gift to Rush University Medical Center.

Keep in mind that if you sell the appreciated property yourself, capital gains tax due on the appreciated amount may reduce your net gain considerably. If, however, you deed the real estate to Rush, you should be able to deduct its full market value, including all appreciation, free of any capital gain consequences.

Tangible Personal Property
Gifts of tangible personal property can include works of art, rare books, jewelry, antiques and other physical objects. Rush welcomes inquiries about gifts of personal property, but the Medical Center’s gift acceptance policies will dictate whether it is in our best interest to accept any gift of personal property. Please keep in mind that we cannot appraise or assign a value to the property.

For gifts of tangible personal property valued at $5,000 or more, the IRS requires the donor/taxpayer to establish a value for the gift and to provide, at donor expense, a qualified appraisal as documentation. If such gifts do not have a use related to Rush’s underlying mission, only the cost basis of the property is considered to be deductible.

Life Insurance
It is easy to give a life insurance policy to Rush that is fully paid up and take a deduction for its “present value” as determined for tax purposes, or to purchase a new policy of which the Medical Center is both owner and beneficiary. This option can allow you to convert a policy that may have outlived its original purpose (i.e. providing for minors, now grown and self sufficient) into a tax deductible philanthropic gift to Rush without depleting assets that are essential for your future needs or those of your family. Additionally, because death benefits are not subject to probate, they can be distributed immediately to Rush to fulfill your philanthropic objectives without delay.

Remember: We strongly encourage you to consult profesional counsel about the applicability to your own situation of the options outlined here.


Promotional Information

Giving to Rush
Ways to Give
Gifts of Real Estate, Property, Life Insurance


Related Topics
   
Find a Doctor | Patient & Visitor Services | Health Information
Clinical Services | Events & Classes | Rush News Room | Clinical Trials
Research At Rush
Disclaimer | Privacy Statement | Site Map

© Rush University Medical Center, Chicago, Illinois