NEW LAW: Special rule for contributions in 2020 only!

For cash contributions you make in 2020, you are allowed to deduct up to 100% of your adjusted gross income.  And, even if you do not itemize your deductions in 2020, you still can reduce your taxable income by up to $300 to offset cash contributions. Learn more about the CARES Act


Some of the most common ways to make a gift to Hartford Hospital are to write a check, make a gift using a credit card, or donate online.

A gift of cash could be right for you if:

  • You want the easiest way to donate to the Hospital. 
  • You want the largest possible income tax charitable deduction for your gift.
  • You would like to make the gift to the Hospital that has the greatest immediate impact.

How it works
You make a gift of cash directly to the Hospital and you receive an immediate income tax charitable deduction.

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What is an outright gift of cash?
When you transfer funds to Hartford Hospital and get nothing of financial value in return, that is considered an "outright gift of cash." Most outright gifts come to us in the form of checks made payable to Hartford Hospital.

Gift provides immediate support
Unlike some other gift arrangements, your outright gift will provide resources that the Hospital can put to immediate use. If you prefer to restrict our use of your gift in any way, please contact us so that we can be sure that we can carry out your wishes.   

Maximum tax savings
You may deduct the full amount of your donation up to 60% of your adjusted gross income, providing tax savings if you itemize. You may carry forward all of your unused deduction for up to five additional years.

Ways to give cash
Most donors make an outright gift either by writing a check payable to Hartford Hospital and mailing it to us, or by using their credit card online.

You may also choose to use cash to make a gift in exchange for a charitable gift annuity, to establish or add to a charitable remainder trust, or make a contribution to the Hartford Hospital Pooled Income Fund.

Example

Jennifer would like to make an immediate $15,000 gift to Hartford Hospital. Jennifer could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Jennifer could use her credit card by speaking directly to a member of our Philanthropy Department staff, respond to a mailing, or donate online through our website. Gifts made by both check and credit card are considered cash gifts.

Benefits

  • Jennifer may deduct up to 60% of her adjusted gross income for her gift of cash, providing tax savings if she itemizes.
  • If Jennifer itemizes deductions but cannot use the entire deduction in the year of gift, she may carry the balance forward for up to five additional years. 
  • Assuming Jennifer itemizes deductions and can use her entire income tax charitable deduction of $15,000, she could save herself $5,550 (37% tax).
  • Jennifer will enjoy the satisfaction of having made a $15,000 gift to the Hospital and our charitable mission.