Arizona Community Foundation will administer Charitable Gift
Annuities
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.
Press Contact:
Megan Brownell
Vice President, Marketing/Communications
602-682-2023
[email protected]
*
About TGen
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.
Press Contact:
Steve Yozwiak
TGen Senior Science Writer
602-343-8704
[email protected]
# # #