The Chester River Health Foundation has been awarded a $25,000 allocation of Maryland state tax credits in support of its efforts to raise $249,000 to fund a new telemetry system for the patient rooms on the second floor of UM Shore Medical Center at Chestertown. Telemetry plays a vital role in the care for some of the sickest patients. It continuously monitors a patient’s heart rate, respiration, oxygen level, pulse, temperature, etc. and transmits the data to a technician at the nurses’ workstation.
The credits were awarded by the MD Department of Housing and Community Development’s Community Investment Tax Credit (CITC) program and must be sold by December 31, 2022. They are available to individuals and businesses who make a donation at the $1,000 level or above and are available on a first-come, first-served basis. The credits offset any Maryland state tax owed on a 50% basis meaning, a $1,000 donation earns $500 of actual state credits.
“In December 2017, Congress enacted significant tax law changes, which could affect the deductibility of charitable donations for some people because of the increased standard deduction,” said Maryann Ruehrmund, executive director of the Foundation. “As a result, the CITC program’s attractiveness has skyrocketed because the tax credits are offered in addition to any deduction taken for making a charitable gift – or in addition to the standardized deduction.”
“While I believe most people make donations to us because they support the mission of our hospital, the benefits of the CITC program are undeniable and have opened the door for individuals to make larger donations.”
“I encourage anyone who is interested to contact me quickly as the credits sell fast,” Ruehrmund reiterated.
For more information about the program or to secure an allocation of credits, please call the Foundation at (410) 810-5660.
As part of the University of Maryland Medical System (UMMS), University of Maryland Shore Regional Health is the principal provider of comprehensive health care services for more than 170,000 residents of Caroline, Dorchester, Kent, Queen Anne’s and Talbot counties on Maryland’s Eastern Shore. UM Shore Regional Health’s team of more than 2,200 employees, medical staff, board members and volunteers works with various community partners to fulfill the organization’s mission of Creating Healthier Communities Together.
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