Federal Income Tax

Benefactor receives a charitable gift deduction in the year the gift is made based on calculations prescribed by the Internal Revenue Service. If the deduction is greater than I.R.S. allows, it may be carried forward into subsequent years.

Capital Gains Tax

If a gift of appreciated property is made, the benefactor is given gift credit for the current value and all or part of the capital gains tax is avoided.

Estate and Inheritance Taxes

By reducing the size of an estate through gifts to Marywood, the benefactor can lessen payment of estate taxes by the heirs.

Spousal Exemption

All bequests and gifts to a spouse are made tax free.

Annual Exclusion

A taxpayer and spouse may give $11,000 each, per year, to any recipient free of tax.

Unified Tax Credit

In the course of a lifetime, each taxpayer may make gifts to any recipient or recipients free of tax provided the total remains within the limits specified by the I.R.S.

Contributions to Marywood

Marywood pays no gift tax and the donor receives a charitable tax deduction according to the limits specified by the I.R.S.