Support Sarasota Memorial in a Meaningful Way

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Mary Glidden-Williams

Mary Glidden-Williams likes her charitable giving to make a tangible impact—improving lives and funneling help where it is most needed.

Mary Glidden-Williams likes her charitable giving to make a tangible impact—improving lives and funneling help where it is most needed. That's why she designated Sarasota Memorial Healthcare Foundation as the beneficiary of her IRA.

Mary got involved with the hospital after her late husband, Noah, urged her to join him there as a volunteer. She did, and she loved it.

"I had so much fun. I loved the excitement. I loved the people. I loved the work," Mary says. "I worked in discharge, and everybody's happy to see you. You're everybody's best friend for five minutes."

Working at the hospital convinced Mary of the importance of its mission, and establishing an IRA beneficiary designation seemed like a perfect choice because, as a nonprofit, the hospital will pay no taxes on the gift.

"Leaving it to the hospital gives them the full value of all the money," she says.

Mary has been a loyal donor to the Healthcare Foundation for many years, often using appreciated stock for her contributions—another tax-savvy giving strategy. Her gifts have honored Noah, including through the purchase of hospital benches that feature memorable song lyrics expressing her undying love.

Mary urges others to join her in supporting SMH with a planned gift.

"You don't have to be a billionaire to help," she says. "The hospital affects so many lives. It just must keep going, and it takes money. It's that simple."

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Enter the cost basis of the asset being used to fund the trust or annuity. If the asset is cash, the cost basis is equal to the gift amount. If it is appreciated property, the cost basis will most likely be the amount you originally paid for the property. The cost basis is used to determine the capital gains tax which will be bypassed as a result of selling the asset. If the cost basis is not known or cannot be proven, the IRS assumes the cost basis to be $0. If cash funds the gift annuity, enter the same value as "Value of Property."

Payment Frequency

Select either monthly, quarterly, semiannual, or annual income payments to the beneficiary(ies) of the income. The choice of payment frequency does affect the amount of the charitable deduction as the more frequent the payment (i.e. monthly as opposed to annually), the smaller the donor's tax deduction.

Under the Internal Revenue Code, the charitable income tax deduction must be at least 10% of the initial value. The payout amount has been lowered to qualify under the IRS 10% deduction test. This calculation includes a safety factor of 0.04%. The deduction factor will be 0.10040 or greater. The Maximum Payout Rate by Crescendo 10% Deduction Test: cres_calc_maxrate10

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