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Each year, grateful patients and friends of the Infirmary support our mission by making an annual gift. Donors can choose to designate the gift to patient care, teaching or research in ophthalmology or otolaryngology or make an unrestricted gift to be allocated by the Infirmary to the area in greatest need of support.
Donors who give $2,000 or more in a given year (October 1st - September 30th) become annual members of the Infirmary's Reynolds Society, named after Edward Reynolds, M.D., co-founder of the Infirmary. Reynolds Society members are invited to a black-tie dinner hosted by the Infirmary.
Gifts of all sizes and types help the Infirmary fulfill its mission. We invite you to make an annual gift this year. Checks to the Infirmary should be made to the Foundation of the MEEI, Inc. and can be mailed to us at: Massachusetts Eye and Ear Infirmary, Development Office, 243 Charles Street, Boston, MA 02114.
Gifts of cash are very useful to the Infirmary as they can be put to immediate use. Please click here for instructions on making contributions by check, credit card, or by phone.
Many employers have established gift plans that let current and retired employees make charitable gifts that are then matched by the employer. Check with your employer to see if you may be able to double your gift!
A pledge is an agreement to make a gift that is payable, generally over the course of three to five years. Pledges may allow you to make a larger or more significant gift than you could make in a single year. By signing a pledge form you commit to a payment schedule. Pledge payments are deductible in the years in which they are paid.
Do you have appreciated securities that you have held for a minimum of one year? You may want to consider using stocks to fund your next gift to the Infirmary. Stock transfers can be made quickly and easily and may offer you substantial tax savings. By transferring stocks you have owned for at least one year, you avoid federal capital gains tax and receive a charitable deduction for the fair market value of the gift. See transferring stock to the Infirmary for instructions on how to make a gift of stock.
Closely held stock provides a charitable deduction equal to the fair market value of the stock. Please call the Development Office at 617 573-3342 for more information.
By remembering the Infirmary in your will, you can make a valuable contribution to our mission. At the same time, you will reduce the size of your estate and reduce your federal and state estate taxes. Bequests can usually be arranged very simply through a codicil to your will. See sample bequest language for the types of bequests and specific language to provide to your attorney. Individuals who include the Infirmary in their wills become members of the Annie Sullivan Society.
Life income gifts allow you to make a gift and receive income for yourself or a loved one. Gifts of cash, appreciated securities or other property can be given to the Infirmary in exchange for a fixed or variable income paid to the donor or a designated beneficiary for the rest of their life or for a specified number of years. Because you can retain or even increase your income, a life income gift may permit you to make a larger gift. Also, when you arrange the gift as part of your overall financial objectives, a life income gift can help accomplish personal financial goals such as:
Life income gifts include gift annuities and charitable remainder trusts. Individuals who make life income gifts become members of the Annie Sullivan Society.
A gift annuity allows you to make a gift of cash, securities, or other property to the Infirmary and, in exchange, receive a fixed sum each year for the rest of your life. Gift annuities can be created for the life of one or two persons. The annual amount paid is determined by rates recommended by the American Council on Gift Annuities. The older the annuitant, the higher the income. The minimum for gift annuities is $5,000.
Charitable remainder trusts allow you to transfer assets, such as stocks, bonds, life insurance or property into a trust, managed by trustees named by you. You (and a second person, if desired) receive income quarterly until the last beneficiary dies. Then the principal is transferred to the Infirmary. You can create a life income trust to provide either a fixed amount of income (called a charitable remainder annuity trust) or a variable amount of income (called a charitable remainder unitrust). The minimum for charitable remainder trusts is $50,000.
Do you have real estate you may want to give? Appreciated real estate gifts held long term entitle you to a deduction for the fair market value of the real estate. You may also give a personal residence, farm, or vacation home, while reserving the right to occupy it for as long as you or your spouse live. If your gift is irrevocable, you qualify for an immediate income tax deduction. Individuals who make gifts of real estate become members of the Annie Sullivan Society.
Gifts to the Infirmary often come in the form of retirement assets whereby the Infirmary is designated the primary or contingent beneficiary. Since retirement assets face "double taxation" when left to heirs (both the estate and the recipient are taxed), many donors make other provisions for family members, and leave the retirement plan assets to the Infirmary. Individuals who make gifts of retirement assets become members of the Annie Sullivan Society.
You may want to consider a gift of life insurance as a vehicle for making a large gift to the Infirmary. By donating an existing policy, you designate the Infirmary as the owner and beneficiary of the policy and you continue to pay the premiums to maintain it. You are eligible for a charitable deduction for the present value of the policy and for the premium payments made each year as a charitable contribution.
Likewise, if you established a new policy, you can designate the Infirmary as the owner and deduct the premium payments you make as charitable contributions.
Life insurance can also be used as a "replacement asset" whereby you give appreciated property to the Infirmary and replace the dollar value of the asset with life insurance payable to family members. The income tax savings from the charitable deduction for the gift may be sufficient to pay for the "replacement' insurance. The insurance premiums are not a charitable contribution.
You may simply decide to liquidate a policy no longer needed for family protection and donate the value to the Infirmary as a tax-deductible charitable gift.
Life insurance can also be used to establish a charitable remainder unitrust.
Individuals who make gifts of life insurance become members of the Annie Sullivan Society..
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