However you choose, each dollar helps advance our mission, bringing us closer to improvements in human health and quality of life for all. Gifts for research could benefit patients battling cancer, Parkinson disease, or bipolar disorder. Gifts for education inspire students and teachers. Gifts for economic development allow HudsonAlpha to continue building a critical mass of academic and commercial collaboration—accelerating the transition from bench to bedside.
Planned giving is an increasingly popular option for many philanthropists who wish to perpetuate their commitments beyond their lifetime, while taking advantage of significant tax benefits today. Through a planned gift, you can substantially strengthen the Foundation’s endowment fund or support any number of research and educational outreach areas offered by the institute. There are various avenues you can take to achieve your planned giving goals:
Retain full control and use of your property during your lifetime and reduce your taxable estate by including HudsonAlpha in your will or living trust. Please ask your attorney to help you make amendments to your will or trust.
Charitable Gift Annuity
Provide a lifetime income to you and/or a designated loved one and earn a current income tax deduction with a gift of cash or property.
Charitable Remainder Trust
Consider an irrevocable gift of appreciated assets that pays income to you and your beneficiaries and allows you to reduce your taxable estate. Retained Life Estate Lower your taxable estate and take a current tax deduction by giving CSHL full or partial interest in your home while residing in it for as long as you choose.
By naming HudsonAlpha as a beneficiary of your retirement account, such as a 401(k) or IRA, you will reduce your taxable estate.
If you are 70.5 years old or older, please consider making a donation to HudsonAlpha from your IRA.
Just before they recessed for the year, Congress passed the Tax Increase Prevention Act of 2014. It was signed into law on December 19, 2014.
This bill includes a major charitable provision. Those who are 70.5 year or older can contribute directly from a qualified IRA account without paying taxes on the money withdraw. Funds withdrawn can be counted toward the minimum required distribution but will not be counted as income.
However, this transaction must be completed before 2014 ends. And it must be conducted according to strict regulations. The funds cannot pass through your hands – they must be transferred directly from the financial institution to your charity of choice.
For more information, please consult your tax professional or the folks who administer your IRA.
When you make a gift of stock to the HudsonAlpha Foundation, you advance efforts to improve human health and quality of life, while avoiding tax on capital gains. You will also receive a charitable tax deduction for the full fair market value of the stock.
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