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Charitable gifts reward donors in many ways. There is the satisfaction of supporting an important cause, the excitement of seeing your gift lead to positive change, and—in many cases—tangible financial benefits to you and/or another beneficiary, through tax advantages and the retention of lifetime income from the donated asset.
A summary of ways to give is provided here:
- Gifts of Cash and Pledges
- Gifts of Stocks and Bonds
- Gifts of Closely Held Stock
- Gifts of Personal Property
- Gifts That Provide Income
- Gifts of Real Estate
- Gifts through Bequests
|Gifts of Cash and Pledges|
Many gifts to The Wilmer Eye Institute are in the form of cash. Cash gifts are deductible for federal income tax purposes up to a limit of 50 percent of your adjusted gross income if you itemize deductions.
Cash gifts may be pledged for payment over a period of years. To be officially recorded, pledges should be made either in writing or by means of a pledge card.
|Gifts of Stocks and Bonds|
Many donors to The Wilmer Eye Institute make outright gifts and pledges in the form of appreciated securities rather than cash, in order to benefit from extra tax advantages.
If you itemize, you are entitled to a charitable income-tax deduction for the full value of your gift, provided you have owned the securities for more than 12 months.
You avoid paying a tax on capital gains which you would owe if you sold the securities. Gifts of securities are deductible for federal tax purposes up to a limit of 30 percent of your adjusted gross income.
|Gifts of Closely Held Stock|
If you own stock in a closely held corporation, you can use such stock to make a gift to The Wilmer Eye Institute that will bring you substantial tax benefits. There are a number of strategies you can use to structure the gift according to your circumstances.
|Gifts of Personal Property|
In planning your estate, remember that valuable collections, works of art, and other forms of tangible personal property may be subject to estate taxes. By donating such items during your lifetime rather than at your death, you not only reduce your taxable estate but also reduce your taxable income in the year of the gift.
For a gift of tangible property, you are entitled to an income tax charitable deduction amounting to the property's full, fair-market value, provided the use of the object is directly related to The Wilmer Eye Institute's tax-exempt functions. If the property cannot be used directly by The Wilmer Eye Institute, your tax deduction is the lesser of the property's original cost or the fair market value.
|Gifts That Provide Income|
You may wish to make a substantial gift to The Wilmer Eye Institute but feel you cannot afford to give up the annual income produced by the asset. Our life-income gift program offers several ways to help you make such a gift, while retaining an income for your lifetime.
The benefits to you, the donor, vary, but all these arrangements have the following attractive features:
- Income for life paid to you and/or another beneficiary, such as your spouse or another family member;
- Increased income if a gift is made to a life income plan that produces a higher yield than the donated asset;
- An immediate federal income tax deduction for a portion of the value of the gift; and
- Elimination of capital gains tax at the time of transfer if the asset is in the form of securities or real estate that have appreciated in value.
|Gifts of Real Estate|
Almost any kind of real estate can make a valuable gift to The Wilmer Eye Institute: a primary residence, vacation home, farm, commercial building, or an undeveloped parcel of land. You can even contribute your residence now and still reside in it for life.
As with gifts of appreciated stocks, bonds, mutual funds, and personal property, no capital gains tax is due when you donate appreciated real estate; you are entitled to an income tax deduction in the amount of the appreciated value of the real estate; and you avoid estate taxes on the appreciated asset.
|Gifts through Bequests|
The Wilmer Eye Institute has been the recipient of bequests, both large and small, from many alumni, friends, and grateful patients over the years. These donors felt they needed their capital during their lifetimes, but found it possible to associate themselves forever with Wilmer.
These bequests, no matter how modest, have been welcome and important to Wilmer. To make an unrestricted gift, you may wish to consider using the following language:
"I give, devise, and bequeath unto The Johns Hopkins University, a nonpublic Maryland corporation, for the Wilmer Eye Institute:
- all of my residuary estate; or
- a portion of my residuary estate equal to ___% thereof; or
- the following described property______; or
- the sum of _____________."
If you choose to restrict your gift further, to be used for research on a specific disease for instance, please contact the Wilmer Development Office for suggested language.
The value of a bequest to The Wilmer Eye Institute is deductible for estate tax purposes, and there is no limit on the amount of the deduction.
There's no need to wait -- make a gift online!
All gifts should be made to
The Wilmer Eye Institute at Johns Hopkins University
and are tax-deductible in accordance with
the Internal Revenue Code.
For further information contact:
Development Office of the Wilmer Eye Institute
The Johns Hopkins Medical Institutions
600 N. Wolfe Street, Wilmer 112
Baltimore, MD 21287-9015