- Posted Tuesday December 14, 2010
Arizona Community Foundation will administer Charitable Gift
PHOENIX, Ariz. - Dec. 14, 2010 - A partnership with the Arizona Community Foundation (ACF) will make it easier for large donors to contribute to biomedical research conducted by the non-profit Translational Genomics Research Institute (TGen).
Donors who give $25,000 or more through a Charitable Gift Annuity to TGen will be able to take advantage of the investment management programs already administered by ACF, a statewide affiliation of donors, volunteers and organizations addressing community needs through charitable giving.
In exchange for their gifts to TGen, donors will receive lifetime payments at a fixed rate of interest, depending on their age and whether they give as individuals or as spouses. For example, at recent rates, a single person, age 60, could receive as much as 5 percent annual interest in lifetime payments, which could be made annually, semi-annually, or quarterly, according to the donor's needs.
Donors may designate that their gifts go to a specific area of biomedical research, or to research in general at TGen, which focuses on discovering the genetic origins of such diseases as Alzheimer's, diabetes and many types of cancer.
"This partnership could provide a substantial boost for TGen, which already benefits from the expertise of exceedingly knowledgeable board members that our organization shares with the Arizona Community Foundation," said Dr. Jeffrey Trent, TGen's President and Research Director.
Bennett Dorrance, Chairman of DMB Associates, and Jerry Bisgrove, Chairman and CEO of the Stardust Companies, are members of the TGen Foundation Board of Directors, and both are past chairmen of the ACF Board of Directors.
"The Arizona Community Foundation is pleased to partner with TGen to enhance planned giving options for their donors," said Steven G. Seleznow, President and CEO of ACF. "TGen is conducting breakthrough research and, deservingly, has many generous donors who understand the importance of this work. Charitable Gift Annuities are a perfect option for donors to sustain TGen and its critically important activities well into the future, while also generating an income stream for themselves to meet their personal financial needs. ACF is proud to offer this innovative giving strategy."
Charitable portions of gifts to TGen are tax deductible, and portions of annuity payments range in how they are taxed, with some portions potentially tax-free. For more information, contact: Kimberly C. Kur, J.D., ACF's Senior Advancement Officer at 602-682-2025; or Denise A. McClintic, J.D., LL.M., TGen Foundation Associate Vice-President, at 602-343-8611 or [email protected].
The gifts to TGen will reside at ACF and be administered as an endowment to fund designated research at TGen. Endowments help ensure the long-term sustainability of an organization by providing a permanent source of support.
Founded in 1978, ACF has $471 million in assets. It awards millions of dollars each year to nearly 3,500 non-profit organizations, educational institutions and government agencies in Arizona and across the nation. Since inception, it has invested nearly $350 million in communities through grant and scholarship funding.
About Arizona Community Foundation
Each year ACF awards millions of dollars in grants to non-profit organizations, government agencies and educational institutions. Grants cover a wide range of focus areas, including: arts, culture and humanities; community, neighborhood and economic development; education and scholarships; health and human services; environment and species protection; law, justice and public safety; and scientific research. While most grants are made in Arizona to serve local community needs, grants may be made nationally as well for the betterment of our nation. For more information, visit: www.azfoundation.org.
Vice President, Marketing/Communications
The Translational Genomics Research Institute (TGen) is a Phoenix, Arizona-based non-profit organization dedicated to conducting groundbreaking research with life changing results. Research at TGen is focused on helping patients with diseases such as cancer, neurological disorders and diabetes. TGen is on the cutting edge of translational research where investigators are able to unravel the genetic components of common and complex diseases. Working with collaborators in the scientific and medical communities, TGen believes it can make a substantial contribution to the efficiency and effectiveness of the translational process. TGen is affiliated with the Van Andel Research Institute in Grand Rapids, Michigan. For more information, visit: www.tgen.org.
TGen Senior Science Writer
# # #