State Tax Credits Awarded to Chester River Health Foundation
The University of Maryland Chester River Health Foundation (CRHF) was awarded an allocation of state tax credits to support its efforts to raise nearly $150,000 to fund a replacement hematology analyzer for the laboratory at UM Shore Medical Center at Chestertown. CRHF is one of just two health-related organizations awarded tax credits this year from the Maryland Department of Housing and Community Development.
According to Maryann Ruehrmund, executive director of CRHF, the program provides a tax credit to donors equal to fifty percent (50%) of any donation of $1,000 or greater. The number of credits available is limited and tend to be sold quickly. CRHF's mission is to raise funds that steward and enhance healthcare excellence for the people who live in or visit the communities served by UM Shore Medical Center at Chestertown.
"A hematology analyzer is imperative to have in every hospital lab because it is used to screen for blood disease and aid in treatment of cancer patients," said Elizabeth Principe, Laboratory Site Coordinator at UM Shore Medical Center at Chestertown.
"The Sysmex brand we will purchase is considered to be the global leader and 'gold standard' of hematology analyzers in the industry," Principe said. "The results it generates will accurately and quickly tell providers a great deal about the overall health of their patients. We appreciate our community's continued support of the Foundation's efforts to ensure the lab has state-of-the-art diagnostic equipment."
Tax law changes enacted in 2017 affected the deductibility of charitable donations for many people because of the increase in the standard deduction, Ruehrmund explained. "The attractiveness of this tax credit program has increased because the tax credits are offered in addition to any deduction taken for making a charitable gift – or in addition to the standard deduction."
"While I believe most people make donations to the Chester River Health Foundation because they support the mission of the hospital, the obvious benefits of the CITC program have opened the door for individuals to make larger contributions," Ruehrmund said.
Donors interested in tax credits should contact Reuhrmund at 410-810-5660 or by email, firstname.lastname@example.org, prior to sending a donation.