Ways to Give
There are a variety of methods to make a gift to the SOMC Development Foundation.
- Online | Our safe, secure online giving site allows donors to quickly and easily make a gift.
- By Mail | To send a gift by mail, download a giving form. Mail completed form and check, if applicable to:
- SOMC Development Foundation
Attn: Erica Austin
724 8th Street
Portsmouth, OH 45662
- SOMC Development Foundation
- If sending a check, please make payable to SOMC Development Foundation.
- By Phone | Call (740) 356-5660
- SOMC Development Foundation – State Tax ID 73-036159 | Federal Tax ID 31-0677520
Types of Gifts
Employees of the Development Foundation are available to assist donors with making gifts to the area that they are most passionate about. For general questions about gifts, please contact our office at (740) 356 – 5660 or send an email to [email protected]. Those who are interested in making a contribution are encouraged to consider the following giving options:
Most of our supporters make their gifts in the form of annual unrestricted gifts of cash. Cash is often the most convenient form of giving. Cash gifts are fully deductible for federal income tax purposes, provided deductions are itemized.
SOMC Development Foundation
Attn: Erica Austin
724 8th Street
Portsmouth, OH 45662
Please do not send cash in the mail. To send a check or money order, please make payable to SOMC Development Foundation.
Pledges enable a donor to plan a personal giving program to the SOMC Development Foundation that is convenient. A pledge may enable a donor to consider a more significant gift than would have otherwise been possible. Terms for payment on pledges are flexible and at the option of the donor.
Securities may be made as outright gifts or as a payment on a pledge. Stock certificates may be reassigned directly to the SOMC Development Foundation or may be transferred through the donor’s broker. The mean market value on the date of the transfer will determine the value of the gift for tax purposes. It is best to contact an employee at the SOMC Development Foundation before a transaction is made. Gifts of appreciated securities may be tax deductible, up to 30 percent of your adjusted gross income. The deduction is based on the full fair market value, and capital gains tax is not due when the stock is transferred to the SOMC Development Foundation.
For general questions on securities, please contact your financial advisor, who may call us at (740) 356 – 5660 or send an email to [email protected].
In certain instances, it may be preferable from an estate, financial and tax planning perspective to consider long-term gift planning as the best way to make a gift. This can be accomplished through various gift instruments, such as charitable remainder trusts, gift annuities, charitable lead trusts and bequests.
Honorary gifts are a meaningful way to pay tribute to someone in your life. Whether it is to show appreciation to a caregiver or to honor a milestone in a friend or relative’s life, honorary gifts are meaningful ways to honor that person while supporting the SOMC Development Foundation. Your donation may honor special occasions such as birthdays, weddings, anniversaries or to celebrate someone’s journey while fighting cancer or a completed treatment. Contributions can also be made in honor of the doctors, nurses or caregivers who may have contributed to a patient’s care. When making your gift, please mention the name of the person you are honoring and include their name and address so we may notify them of your thoughtful gesture. Donation amounts of your gift will not be included in the letter to the honoree.
Memorial gifts to the SOMC Development Foundation are a special way to honor and commemorate someone who has passed away. Whether your gift is to honor a family member or friend, memorial gifts are a touching way to pay tribute to a special loved one. When you send a memorial gift, we send an acknowledgement of your thoughtfulness to whomever you designate. Please mention the name of the person in whose memory you are donating, and include the name and address of the person you would like us to notify about your thoughtful gesture. Donation amounts are not included in our notification letters to the family member or friend.
Gifts in Kind
Alternatives to monetary gifts such as equipment or services are always appreciated.
Call (740)356-5660 or send an email to [email protected] for information.
Sign up for our Annual Giving Program and make a difference every month of the year. You can now make automatic reoccurring monthly payments by credit card or be sent a monthly reminder and pay by check or cash.
|Member||$1 – $5|
|Associate||$6 – $10|
|Friend||$11 – $25|
|Visionary||$26 – $50|
|Founder||$51 & up|
Endowment funds are essential to the vitality and financial security of Southern Ohio Medical Center. Endowments preserve gifts in perpetuity so they can further SOMC’s mission to make a difference.
Endowment donors have a unique opportunity to watch their gifts inspire, encourage and create excellence today with the assurance that their investment will fortify the hospital and touch countless lives for generations to come.
Once established with your financial advisor, an endowed fund is a dependable and perpetual source of support, since the principal is invested and only a portion of the earnings is spent annually. A minimum gift of $25,000 is needed to establish an unrestricted endowment, while $50,000 is needed for a restricted endowment. Endowments can be established at the Scioto Foundation.
Community Partnership Program
Southern Ohio Medical Center is committed to making a positive difference in the lives of our patients, employees and the communities we serve. Our Community Partnership Program was created to help raise awareness about SOMC community events that were established to promote our community’s health and wellness needs. Our vision for this program is to establish strong philanthropic partnerships between SOMC and our valued Community Partners. We invite you to participate in any or all of our community fundraising events.
Corporate Matching Gifts
You may double or even triple the size of your gift if you are affiliated with a company that matches employee gifts to the SOMC Development Foundation. Check with your company to see if they participate in matching gifts.
What Is Gift Planning?
Gift planning is finding ways to make charitable gifts now or after your lifetime while enjoying financial benefits for yourself. Unlike cash donations, they are typically made from assets in your estate rather than disposable income, and come to fruition upon your passing. The most common planned gift is a request in your will or living trust. A misconception is that gift planning is only for the “wealthy.” The truth is, even people of modest means can make a difference through gift planning.
You can donate cash, appreciated financial assets or tangible personal property as a major gift. You can also receive a charitable deduction for an outright gift of cash. Avoid capital gains tax by donating appreciated stock. Consider giving paid-up life insurance policies or donating personal property. You can personalize your philanthropy through SOMC’s Directed Gift Opportunities which lets you choose what your gift will support, from nutrition services to the continued education of nurses, to patients who are burdened with a financial struggle during an illness. We invite you to explore every opportunity of giving as there are many needs in our community. To personalize your philanthropy, contact Mary Arnzen at [email protected] or (740) 356 – 5609.
Explore our planned giving opportunities…
You can support the mission of the SOMC Development Foundation by naming the SOMC Foundation as a beneficiary on your:
- Life insurance policy
- Deferred annuity
- Qualified retirement plan (401-k or 403-b plan)
- Bank Account (called Payable on Death account)
- Investment Account (called Transfer on Death account)
Gifts of Stocks
One of the best ways to support the SOMC Development Foundation is with a gift of securities. You can donate shares of stock, bonds and mutual funds directly to the Foundation. For many people, this is an excellent way to make a charitable gift.
Gifts of Real Estate
You can make a substantial contribution to the mission of the SOMC Development Foundation by donating real estate. You may donate a home, a vacation home, a condominium, a lot, farmland or a commercial building. This may be an excellent way to help support our critical mission in the community.
Charitable trusts are remarkably flexible planned giving arrangements that provide a wide variety of tax benefits to the donors. These trusts are fairly complicated and require drafting by a skilled attorney. Because of the set-up costs, they are used mostly for gifts of $500,000 or more. There are two basic types of charitable trusts: Charitable Remainder Trusts and Charitable Lead Trusts.
Charitable Lead Trusts
A charitable lead trust (CLT) is usually used to reduce or eliminate estate taxes. After a donor transfers assets to a CLT, the trust will make annual payments to the SOMC Development Foundation for a term of years, usually 15-25. At the end of the term, the trust assets then pass back to family members, usually children or grandchildren. The annual payouts to the foundation provide an estate tax deduction and greatly reduce the estate tax that would otherwise be levied on the assets placed in the trust.
Charitable Remainder Trusts
You may fund a charitable remainder trust (CRT) with many different types of assets, including cash, stock, real estate and even closely-held business interests. The CRT, which has been specifically approved by the United States Congress, is an irrevocable trust. Once you fund the trust, you will receive income payouts from the trust for life. At the end of your life, the assets in the trust will go to the SOMC Development Foundation. Because the trust is irrevocable, you receive an income tax deduction when you fund it, even though you enjoy the income for life. You can also defer capital gains tax and often reduce or eliminate estate tax.
We invite you to become a part of the SOMC Development Foundation’s Legacy Society, a recognition program for donors who arrange a planned gift. A planned gift is a future contribution from your will or estate that costs you nothing now. Planning a charitable gift takes into account the needs and benefits of your heirs and family members, but it still allow you to support SOMC for generations to come.
We invite you to help us build an endowment to meet the needs of our community members and future generations to come. Your gift enables us to make sure that we can carry out our mission in the future and continue to be there for our community.