As a non-profit organization, HealthWorks! North Mississippi operates on private donations and grants. Contributions by private donors are essential to our being able to provide the unique learning experiences for children. Please consider making a tax-deductible contribution so that HealthWorks! North Mississippi may continue providing high-quality interactive exhibits and educational programs for children, families and student groups.
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Gifts of Cash/Check/Credit Card:
The simplest way to make a gift is to contribute cash, checks, or via credit card. A tax deduction is taken in the year the gift is made. If the amount exceeds 50 percent of the donor’s adjusted gross income, the excess contribution may be carried over for up to five additional years. Donations may be made in person at HealthWorks! or mailed to the facility at 219 S. Industrial Rd. Tupelo, MS 38801.
Corporate Matching Gifts:
Some corporations encourage officers, former officers, employees or their spouses to make charitable contributions by matching their gifts dollar-for-dollar, and sometimes as much as two or three dollars for every dollar given. In all cases, corporate matching gifts will be encouraged and soft-credited to the donor in the proportion designated by the matching gift arrangement.
Signed into law in August of 2006, this pension reform bill includes several giving incentives, including the IRA rollover provision. The IRA rollover provision included in the pension reform bill provides an exclusion from gross income for certain distributions of up to $100,000 from a traditional individual retirement account (IRA) or a Roth IRA, which would otherwise be included in income. The provision is effective for two years through 2007 (but is likely to be extended), and only applies to donors age 70 1/2 and older.
Gifts of Life Insurance:
Using life insurance to make a major gift is a viable option for donors who no longer need policies purchased some years ago. Donors may choose to assign their policies irrevocably to HCF. Donors realize an immediate tax deduction in the amount of the policy’s current value.
Charitable Remainder Trusts:
Charitable trusts are particularly beneficial for those who hold highly appreciated low-yield investments from which a higher return is desired. The donor and/or beneficiary retains the income from donated assets for his/her lifetime, is eligible to take a current tax deduction for a portion of the gift, and eliminates the tax on capital gains from gifted securities or real estate.
The following information is not to be construed as legal or financial advice or contrary to IRS guidelines. In all cases, donors are advised to consult with their own financial advisors to determine specific tax savings and/or the giving opportunity which best fits their particular need.