As the end of the year approaches, many people review their finances and make charitable contributions to Rush’s people and programs. Gifts to Rush make a difference because they support our mission of providing the best care for the individuals and diverse communities we serve.
Making a gift to Rush before Dec. 31 may also reward you with tax deductions and reduce the taxes you owe next April.
Gifts of cash
Office of Philanthropy
Rush University Medical Center
1201 W. Harrison St., Suite 300
Chicago, Illinois 60607-3319
If you wish, you may designate your gift to support a specific area or leave it undesignated to support an area of general need at Rush. Your gift qualifies for a charitable deduction on your federal income tax return.
Gifts of securities
Giving appreciated securities to support Rush can yield important tax benefits. For securities held longer than one year, you can deduct their full fair market value, regardless of what you originally paid for them. You also avoid paying capital gains tax. If you are considering using investments that are worth less than they cost, it may be better to sell them and donate the proceeds. You may be able to deduct the loss from your taxable income and also claim a deduction for the amount of the gift.
Gifts of life insurance
If you have more insurance coverage than you need, you may consider using your paid-up policy as a charitable gift. When you transfer the ownership of your policy to Rush, you receive a charitable income tax deduction and make a powerful gift.
Gifts that provide you with income
A life income plan can enable you to make a significant gift to Rush, while also securing tax benefits and a steady income stream for yourself and/or your loved ones.