CHECK OR MONEY ORDER: Should be made payable to: Eastern Long Island Hospital and mailed to:

Development Department
Eastern Long Island Hospital
201 Manor Road
Greenport, NY 11944

CORPORATE MATCHING GIFTS: Many companies match gifts to non-profit hospitals by an employee, officer or director. In some cases, the match is greater than one to one. The hospital will credit the individual donor in the proportion designated by the matching gift arrangement, i.e. 1 to 1; 2 to 1, etc.

GIFTS OF APPRECIATED SECURITIES: For outright gifts of appreciated long-term securities, the deduction is equal to the fair market value of the securities on the date the donor relinquishes control of the assets to Eastern Long Island Hospital. Gifting the actual securities, rather than the proceeds of the sale, allows the donor to avoid payment of the capital gains tax.

GIFTS OF REAL ESTATE: The gift can consist of almost any type of property: personal or residential residence, farm or ranch, commercial building, subdivision lots, undeveloped property or a fractional interest in property. Assets may be given outright, serve as the corpus of a trust arrangement or, in the case of a personal residence, given with the right of lifetime tenancy by donor and/or spouse. An immediate charitable deduction is available to the donor, the amount of which depends on the arrangement.

GIFTS OF LIFE INSURANCE: Gifts may be in the form of a paid-up policy, a policy not fully paid out, or Eastern Long Island Hospital may be designated as the owner and beneficiary of a new policy. By irrevocably assigning a policy to Eastern Long Island Hospital, a donor would realize an immediate tax deduction equal to the policies current value. In the case of new policies and policies not fully paid up, premium payments are fully deductible as charitable contributions.

BEQUESTS: Gifts by will are not subject to federal estate or local inheritance taxes and the value of the bequests is deductible in determining the taxable estate. There is no limit on the charitable deduction.

CHARITABLE REMAINDER UNITRUSTS AND ANNUITY TRUSTS: Charitable trusts are particularly beneficial for those who hold highly appreciated, low-yield investments from which a higher return is desired. No capital gains taxes is paid on gifted securities and a tax deduction is allowed depending on the donor's age, payment percentage, and other factors.

CHARITABLE LEAD TRUSTS: Donors may make a gift of current income by putting property in a simple trust. Donors specify the percentage of the total annual value at the hospital is to receive. At the end of the designated period, the property is returned to the donor or to the non-charitable beneficiaries the donor has named. Such trusts may allow immediate tax advantages or may reduce the gift tax when the assets are passed to children or grandchildren at the expiration of the trust.

For more information, call Pat Kiernan, Vice President of  Development and Community Relations (631) 477-5164