Every day, I am inspired by the generosity of so many in our community.

With many vital programs to support right here at home, there is no shortage of ways to match your passion with purpose and make a meaningful difference. And tax-savvy donors know that there are other options for giving beyond an outright cash gift.

As chief philanthropy officer for Providence Inland Northwest Foundation, I have the honor of working closely with generous patients and families looking to support our hospitals and clinics as a way to express gratitude for their care.

Philanthropy at Providence is a critical part of how we’re able to fund new equipment, increase access to care and provide wraparound services that would otherwise not exist. Donations help advance exceptional care to ease the way for all who come through our doors, helping speed innovation and enable our caregivers to do more.

One of the most effective strategies to increase your impact through charitable giving is to think beyond the outright gift. Philanthropy can leverage other assets that benefit both the receiving organization and you as a donor.

Gifts of real estate, life insurance, retirement plans, or even a share of a business can be made direct to your charitable organization of choice. These creative ways of giving can help reduce tax burdens, diversify portfolios, and make a lasting difference for years to come. They may even allow you to make a gift larger than you expected!

Here are some recent ways our donors have made strategic investments:

*A volunteer used her individual retirement account funds to install automatic door openers, increasing accessibility for the hospital. With one phone call, she used her IRA rollover option—also called a qualified charitable distribution—to transfer funds directly to the foundation. For people who are 70 1/2 or older, an IRA charitable rollover can help save taxes by reducing your taxable income and satisfy the required minimum distribution for the year.

*A physician makes donations through his donor-advised fund, a separate tax-free account that can be used for charitable giving at any time. DAFs allow account holders to make a charitable contribution, receive an immediate tax deduction, and then recommend grants from the fund over time. This flexibility allows the physician to contribute larger gifts to major projects he is passionate about.

*A generous community member gave highly appreciated stock to benefit oncology programs. When donors give appreciated stocks directly to a nonprofit, they avoid capital gains tax. It’s a win-win: the organization receives a larger gift to invest in crucial programs and the donor is able to take a higher tax write-off for the stock gift.

*Some donors also choose to make a planned gift, leaving a portion of their estate to Providence. This is commonly done through a will or trust. A recent planned gift came from a man whose life was saved multiple times. He gifted his estate to the foundation and that gift will create an endowment to help cardiac patients with travel costs. By considering an estate gift, you can leave a lasting legacy for decades to come.

It is truly an honor to work alongside the donors who place Providence among their top philanthropic priorities. Donations advance research, fund new technology and support innovative programs that improve lives. From babies who aren’t yet born to end-of-life care, these funds are crucial to easing the way for patients and families navigating unexpected health emergencies.

As a mother of twins who arrived early, I’ve seen firsthand the incredible care taking place in our hospitals every day and the power philanthropy has to improve care for all those in need.

Donations to Providence Inland Northwest Foundation stay local, benefiting programs in Spokane and Stevens counties.

And Providence is just one of the many amazing organizations working to improve our community. As you consider your charitable giving plans, I encourage you to seek out the programs that speak to your heart. Get involved. And when you do, remember there are many ways to make a difference through your giving.

By choosing some of the strategies included here, you can make a meaningful gift to your charity of choice and receive significant tax benefits in the process—which may allow you to make an even bigger impact on the world and leave a lasting legacy.

Colleen Fox is the chief philanthropy officer for the Providence Inland Northwest Foundation.