ANNUAL REPORT 2003
THE POWER OF PRIVATE PHILANTROPHIC SUPPORT
While some of the funding for the initiatives on the previous pages comes from government grants, private philanthropy plays a pivotal role in McLean’s clinical care, research and teaching, especially in launching promising new initiatives. In fiscal year 2003, McLean received $8.3 million in gifts from individuals, foundations and corporations. McLean is enormously appreciative of the generosity of its donors and invites you to participate in the following giving opportunities:
The McLean FundUnrestricted gifts to the McLean Fund give the hospital flexibility to support programs and projects with the most pressing need or potential.
Restricted GiftsDonations can be made to a wide range of special programs, consistent with the donor’s personal interests.
Endowed FundsA minimum contribution of $25,000, made as an outright gift through a lifetime gift or by a bequest, establishes an endowed fund that may be named for the donor or someone to whom the donor wishes to pay tribute. The principal is preserved and the income supports the purposes of the fund as specified by the donor.
Capital DonationsCapital gifts for building construction, equipment or renovation support McLean’s ability to provide the best in patient care and to conduct world-class research.
Naming OpportunitiesWith commitments starting at $25,000, an area of one of the hospital’s clinical or research facilities may be named for, or in honor or memory of, an individual; or a named fund may be created to support clinical care, research or training.
CashA gift of cash is the simplest and most immediate way to give to McLean Hospital. Cash gifts may be pledged over a period of up to five years and are fully deductible up to 50 percent of the donor’s adjusted gross income for those who itemize tax deductions.
Appreciated SecuritiesAn outright gift of long-term appreciated securities is exempt from capital gains taxes, currently at a maximum rate of 15 percent (for income received after May 6, 2003). In most cases, a donor can claim a charitable income tax deduction equal to the full fair-market value of the appreciated securities. The gift is deductible up to 30 percent of the donor’s adjusted gross income and may be carried forward for an additional five years.
Real EstateIn some cases, property can be given outright to support McLean, and the donor receives a charitable income tax deduction for the fair-market value of the property. Real-estate gifts also can be used to fund a life-income arrangement.
The Planned Giving ProgramPlanned gifts represent a lasting contribution to McLean. Consider making a life-income gift through a charitable gift annuity, charitable remainder trust or a gift to the McLean High Income Fund. Life-income gifts provide a lifetime income, a charitable income tax deduction and, if appreciated property rather than cash is used to make a gift, capital gains taxes may be reduced. Bequests can also be an effective vehicle for giving.
For additional information on making a gift to McLean or to inform us of a bequest, call the Development Office at (617) 855-2191.
Gifts may be made payable to McLean Hospital and mailed to:
The McLean Hospital Development Office, 115 Mill Street, Belmont, MA 02478-9106 or online at www.mclean.harvard.edu.
Please write the Development Office at 115 Mill St., Belmont, MA, 02478, if you do not wish to receive future fundraising materials designed to support McLean Hospital.