John Carrigan’s gift represents one of many types of planned charitable gifts that can help donors address their financial and philanthropic goals in supporting M. D. Anderson patient care, research, prevention and education activities.
Pat and Jerry Abbott of Pharr, Texas, for example, are deeply interested in holistic medicine, nutrition and cancer prevention. The Abbotts have a charitable gift annuity, designating their support toward the Integrative Medicine Program. In turn, they receive a fixed payout and significant tax benefits.
Evelyn and Jerry Levine of West Palm Beach, Fla., in gratitude for expert care they both received, have made M. D. Anderson the beneficiary of their entire estate. Their legacy will provide funds to cover patients’ nonmedical expenses such as extended hotel stays, meals and transportation.
Giving strategies can include bequests, charitable remainder trusts, gift annuities, charitable lead trusts, life insurance policies, family limited partnerships, and outright gifts of cash or assets, among others.
Following his wife’s death from colon cancer, Steven Gordon of Houston decided to honor her memory by making a gift of an individual retirement account (IRA) to M. D. Anderson. Thoughtful estate planning enabled him to establish an endowed fellowship in cancer prevention. By contributing to M. D. Anderson, he ensured that 100% of his IRA’s value would go directly to cancer prevention programs and education.
In addition to including M. D. Anderson in her will, Mary Naylor, also of Houston, contributes annual stock gifts in honor of her parents. Naylor enjoys knowing that the full value of the stocks she selects will go to cancer research to develop new and better treatments.
“Not only can planned gifts of all types and sizes offer donors the opportunity to make a difference in the lives of cancer patients and their families, they also can generate income and reduce income taxes,” says Patrick Mulvey, vice president for development.
By ensuring that resources are available in the future, planned giving plays a significant role in M. D. Anderson’s long-term financial planning. Its impact is reflected in many programs, providing seed money for basic science and clinical research, enhancing patient care, enabling professional education programs, and supporting capital projects such as patient care and research facilities.