Frequently Asked Questions About Citrus Memorial Health Foundation

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What percent of my donation to the Citrus Memorial Foundation actually goes to the project I designate and what percent goes to overhead costs?

That is a very good question. Actually, we are pleased to report that 100% of your charitable donation goes to the project designated. Nothing is deducted for overhead or salaries. Most charities cannot make that claim.

Is Citrus Memorial really a charitable organization?

Yes, it is. Citrus Memorial Health Foundation, Inc. is indeed a local charity that takes care of the needs of all its neighbors through the Citrus Memorial Health System that includes the hospital. Citrus Memorial is a 501 (C) 3 charitable organization.

You mean my donations are tax deductible?

Yes indeed, your donations are tax deductible to the extent allowable by law.

In addition to cash what are some of the other ways I can give to Citrus Memorial?

We accept cash, pledges, checks, and major credit cards. Additionally we can accept securities, property and donor advised funds through another organization.

About the Pension Protection Act that was signed by the President on August 17, 2006, how can I find more information about this incentive to give?

This newly signed Act allows you to use your IRA as never before. It actually encourages financial support of charitable organizations by individuals that are seventy and a half years old or older. If you meet that age requirement, under the new law you can make a lifetime gift using funds from your IRA (individual retirement account) without undesirable tax effects. Before this law, you would have had to report any amount taken from your IRA as taxable income. Now gifts from your IRA to Citrus Memorial can be accomplished simply and without tax complications. Please contact Chris Pool, Development Director, at 344-6560 for more information or email her at cpool@citrusmh.org

Who oversees the Foundation Development Office?

The Development Director reports directly to the President / CEO of the hospital who reports to the Board. Additionally, the Development Office has a 20-member Advisory Council which meets quarterly and acts in an advisory capacity. The Hospital Board is represented by two board liaisons who attend advisory council meetings.

Does this Foundation Development Office operate like any other department of the hospital or do they have specific policies and procedures they follow?

The Foundation Development Office, although only established since 2004, indeed does operate under a set of Policies & Procedures approved by the Advisory Council at their meeting on May 1, 2006.

Why do we need a Family Care Health & Education Center?

In 2004, an outside organization conducted a Feasibility Study on behalf of the hospital to determine the greatest upcoming healthcare needs of the community. It was determined that a wellness center in the high growth area of the county in Lecanto could better meet the needs of individuals from pediatrics to geriatrics in order to focus on wellness and healing.

Who is being asked to contribute?

Everyone is being asked to contribute. That includes individuals and local businesses. If someone is unable to contribute due to current financial hardship, they may be inclined to make Citrus Memorial part of leaving a healthcare legacy in their Will. Imagine the difference your generosity will make!

Do my gifts to Citrus Memorial earn interest during this fund raising period?

Yes, all donations are held in interest-bearing accounts.