PeoplesSouth Bank contributes $25,000 to MHM through Georgia HEART
Published 2:10 pm Wednesday, July 13, 2022
PeoplesSouth gave $25,000 to Memorial Hospital and Manor through the Georgia HEART Rural Hospital Tax Credit Program this year. Memorial hospital and Manor has been serving the southwest Georgia community for the past 62 years, providing quality healthcare close to home for its local residents.
Georgia’s rural hospitals have been facing a financial crisis for years due to demographic, economic, and industry challenges. The COVID-19 pandemic has imposed a whole new set of unique challenges on the state’s rural hospitals. The Georgia HEART Hospital Program administers the Rural Hospital Tax Credit, which was enacted by the Georgia General Assembly in 2016 to increase rural hospital funding and to further the hospitals’ ability to care for the thousands of Georgians who live in the communities they serve.
“The generous financial support from PeoplesSouth will go a long way in helping our hospital make important and necessary improvements so that we can offer the best care for our patients,” stated Glennie Bench, Hospital Authority Board Chairman.
Email newsletter signup
Through HEART, Georgia taxpayers can make contributions in exchange for a 100% state income tax credit, up to specified limits, to qualified rural hospitals of their choice. “C” Corporations and Pass-Through Entity business owners who participate may also qualify for an additional federal business expense deduction. Essentially, individuals and business have the unique opportunity to pay their state income taxes – an expenditure they are required to make anyway – through contributing to rural hospitals.
“We are proud to make this donation for the third year in a row to our local hospital through this program. We are a community bank that is blessed to have a quality healthcare provider such as Memorial Hospital and Manor in the community we work and live.” said Alicia Cone, Bainbridge Branch Manager of PeoplesSouth Bank.
Currently, 54 rural hospitals are qualified to receive these tax credit-eligible contributions from individuals and businesses across the state. Georgia taxpayers who are interested in participating in the HEART program are encouraged to visit www.georgiaheart.org to learn more. Georgia Heart will begin taking applications for 2023 beginning October 3, 2022.