As a 501(c)(3) charitable organization, Shriners Hospitals for Children relies on the generosity of donors, past and present. Monetary gifts, as well as gifts of securities, real estate and personal property are welcome and help the organization carry out its three-fold mission of treatment, research and education1.
Contributions may be made at any time to Shriners Hospitals for Children and may be sent to the Office of Development in Tampa, Fla., or directly to any of our 22 hospitals.
In exchange for an irrevocable gift of cash, securities or other assets, Shriners Hospitals for Children agrees to pay one or two annuitants you name a fixed sum each year for life. You may qualify for a charitable deduction if you itemize your income taxes. CGAs are not available in all states.
For an initial contribution of $5,000 or more, donors can participate in the Shriners Hospitals for Children Pooled Income Fund. Under this agreement, donors or their designees will receive annual income from their contributions during their lifetime. A portion of the contribution may be deducted as a charitable donation.
All qualified real estate may be deeded outright to Shriners Hospitals for Children or, if it is a donor’s residence or farm, may be given subject to retained life interests. The value of the interest being contributed may be used as a charitable contribution for income tax purposes.
Contributions of securities are easily accomplished in most cases. If the securities have appreciated in value at the time of the gift, there can be income tax and other advantages for the donor.
Shriners Hospitals for Children can be designated as the irrevocable beneficiary and owner of an insurance policy. Income, gift and estate tax charitable deductions may be allowed for a gift of an irrevocable life insurance policy under most state laws.
Designations of bequests should clearly indicate Shriners Hospitals for Children. Bequests under wills may reduce estate taxes. All bequests not restricted by the donor become part of the endowment fund, with only income from the fund being used to operate Shriners Hospitals.
Irrevocable charitable remainder unitrusts or annuity trusts may be established to provide for lifetime payments to the named beneficiaries. After the lifetime of the surviving income beneficiary, assets would be utilized by Shriners Hospitals for its charitable purposes.
Note: The following essay was quoted from “A Short History, Shriners Hospitals for Children & Shriners of North America,” which can be downloaded in its entirety from the Shriners of North America website.