We invite you to be part of NSMC’s success. We have various programs you can support , including the annual NSMCfund and the new Dr. Harvey Zarren Healing Gardens project. You can also establish a tribute gift in the name of someone remarkable.
If you’d like to lend long-term support to NSMC while also realizing financial rewards, we invite you to consider making a gift or bequest. Families may make a philanthropic impact through trusts, annuities and life insurance. To volunteer at a Foundation event, please call 978-741-1242. For all other NSMC volunteering opportunities, please contact the NSMC Volunteering Office at 978-740-4817.
Immediate Giving options:
Planned Giving options:
Double Your Gift through our matching gift program.
IMMEDIATE GIVING: Cash or check donations
The most popular and easiest way to make a donation to North Shore Medical Center is with cash or check. While the Foundation accepts cash gifts, we do not recommend that you mail cash by postal service or courier. The most beneficial way you can support NMSC is with an unrestricted gift that enables the Medical Center to use your gift where it is most needed. If you would like to restrict your gift, however, please be sure to indicate how you would like it to be used.
Please make your check payable to the North Shore Medical Center Foundation.
Donations can be mailed to:
NSMC Foundation
81 Highland Avenue
Salem, MA 01970
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Tribute Gifts
You can easily dedicate your gift in someone’s honor or memory or to an occasion such as an anniversary or birthday. Simply enclose a note with your donation listing the name of the person your gift is in honor or memory of and include the name and address of the person you would like notified of your donation.
To make your cash or check gift in honor or memory of someone, please follow the instructions above. Enclose a note that includes the name of the person you would like to memorialize or honor, as well as the name and address of the person you would like notified of your donation.
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Credit Card
To make a donation by credit card, please call 978.741.1242.
Personal Property
North Shore Medial Center gratefully accepts gifts of personal property. Please call us at 978.741.1242 if you are interested in donating property to the Foundation. Some donations must be approved before we can accept them, in accordance with our policy. Gifts that do not require prior approval include items for auction. We will familiarize you with how to make your gift when you call.
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Real Estate
Gifts of real estate are also gratefully accepted. Please call us at 979.741.1242 for more details on real estate gifts.
Stocks/Securities
If you are able to transfer long-term stocks or securities to North Shore Medical Center, you will receive a two-fold income tax benefit: you may take a charitable deduction for the full present fair market value of your gift, and you will not be taxed on the appreciation. Please call us at 978.741.1242 for information about the valuation of stocks, bonds or gift crediting.
The limit on deductibility in any tax year is 30 percent of your adjusted gross income; any excess is deductible over the next five years. There are several ways to transfer securities to the North Shore Medical Center, including electronic transfer, mailing certificates and hand transfer.
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Electronic Transfer
The most efficient way to transfer securities to the North Shore Medical Center is by electronic transfer. There is no broker fee or commission charge for this service to you, which means you receive 100% of the value of your transfer. For more information or to obtain stock transfer instructions please contact us at 978.741.1242 .
Mailing Stock Certificates
You may mail your certificates directly to North Shore Medical Center Foundation, if your securities are not held by a broker.
If mailing, please send your unendorsed certificate(s) and a cover letter (including your name, address, and purpose of the gift) in one envelope. In a second envelope, send a signed, signature guaranteed, stock power. We strongly recommend that you use registered mail to forward your certificates and stock power. A stock power form may be obtained at your local bank or by calling us at 978.741.1242.
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PLANNED GIVING
Bequests
A bequest — a gift made through your will — is the most common form of planned giving. You may make a bequest to North Shore Medical Center by naming the Foundation as a beneficiary of either a specific amount or or for percentage of your estate. You may also name NSMC as the residual beneficiary of your estate after payment of bequests to others has been made. By making a bequest gift you will not have to deplete your assets while you are still living, nor will you owe any estate tax on the amount of the bequest.
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Charitable Lead Trusts
Charitable lead trusts are a way to pass appreciated assets to your heirs without significant estate taxes. This is done by allowing North Shore Medical Center to receive income from your assets for a specified time period, after which the asset is transferred back to you or to your heirs, who will not have to pay any additional taxes. You must pay a gift tax on the asset when it is placed into the trust, but thereafter it may grow tax-free.
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Charitable Remainder Trusts
There are two basic types of charitable remainder trusts that qualify for federal tax benefits: unitrusts and annuity trusts. In both arrangements, you may contribute stock, cash, or other assets to a trust. Those assets are invested, producing income for you — or your beneficiary — either for a fixed time period or until you pass away. You are allowed to claim a tax deduction for the estimated portion of your assets that will ultimately come to North Shore Medical Center. After your death, the Foundation retains all remaining assets. Charitable remainder trusts allow you to receive income-tax deductions and escape capital gains taxes.
Many of our donors find these trusts to be an appealing way to prepare for retirement. The assets can be invested to earn a lower rate of return when you are younger and then shifted to earn a higher rate of return, in order to provide you with more income, during your later years.
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Unitrusts
Under a basic Unitrust, you receive one or more yearly payments equaling a fixed percentage of the value of your asset, which is assessed annually. Under a net-income unitrust, you receive the income earned by the trust, even if the trust earns less than the payout rate. However, the trust can be set up to include a “make-up provision,” which allows you to make up the lost income, provided the trust earns more than the payout rate in future years.
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Annuity Trusts
Under an Annuity Trust, you receive a yearly fixed payment equaling at least 5 percent of the value of the asset at the time you signed the deferred-giving agreement.
Gift Annuities
Gift annuity agreements provide older donors who give cash, securities, real estate, or personal property with fixed annual payments for a specified time period, usually for life.
With a deferred gift annuity, your annual payments do not begin when you make the gift, but begin at a later time specified by you.
Gift annuities make good sense if you want to receive income from assets that have risen sharply in value, such as stocks or property. In return for gifts of such assets, North Shore Medical Center Foundation guarantees you a fixed annual income for the rest of your life, and helps you avoid capital gains taxes. You also get an income-tax break on a portion of the earnings from the annuity. The exact amount depends on your age.
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Life Insurance
A gift of whole life insurance may be made to North Shore Medical Center by naming the hospital as the irrevocable owner and beneficiary of your policy. Your policy may or may not be paid. If the policy is not paid up as of the date of your gift, the policy must:
- Have a minimum face value of $50,000
- Have a payment schedule not to exceed ten years
Gifts of life insurance policies require charitable contributions from you to North Shore Medical Center in the amount of any premiums, including unscheduled premiums, which may become due.
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MATCHING GIFTS
You may double, or even triple, your gift to North Shore Medical Center through a matching program offered by your employer. Thousands of companies offer to match their employee’s charitable contributions.
Some require forms to be completed by the employee; others have automated programs that only require a phone call. Most corporations have guidelines that the non-profit organization and employee must meet before a donation can be matched. Your company’s Human Resources Department can give you more information about your employer’s program, as well as the proper forms to complete.
Please mail your form, along with your contribution, to North Shore Medical Center Foundation. We will verify your matching gift eligibility and return the form to your employer.
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