Introduction

The attention of the media and health care philanthropy tends to be focused on categories of disease and injuries other than those affecting our vital senses.

But what about diseases and injuries that are devastating to things we tend to take for granted? The ability to hear, or for that matter to speak, or to walk without falling over or constant nausea?

The mission of the Department of Otolaryngology-Head and Neck Surgery is clear - to improve quality of life. With our discoveries we hope to enable millions of people to once again lead enjoyable, productive lives.

Gifts for Current Need and Endowment

Charitable giving helps the Department of Otolaryngology-Head and Neck Surgery carry out its mission. Throughout the year, we are reminded how vital our supporters are, as our work is made possible through financial support from patients, friends and alumni who want to help.  Gifts allow us to do more meaningful research, and make important scientific advances.

Gifts are typically made through the University of California Foundation, an independent501(c)(3) supporting foundation with the mission of supplying supplemental funding and resource development services to the Department of Otolaryngology-Head and Neck Surgery at the University of California Irvine.

The Foundation and its supporters are committed to investing in the most talented physicians and researchers and providing them with the tools of discovery. We know that our gifts give hope to our friends and neighbors in Orange County, across the country and around the world.

Gifts to the Department through the University of California Foundation can be made in a number of ways, and for a variety of purposes:

• Contributions may be made for general support or restricted to a specific area within the Department of Otolaryngology.
• Some individuals create or supplement endowments, which may be named in honor of the donor(s) or a favorite physician. Others provide immediate support for facilities, training, research or new equipment.
• Support may be made through an outright gift, a pledge payable over a period of years, a life-income gift, such as a charitable remainder trust or annuity, or a bequest. Gifts may be made in the form of cash, appreciated securities, real estate or personal property.
   

Gifts of Cash and Pledges. Many gifts to the Department are in the form of cash. Cash gifts are deductible for federal income tax purposes up to a limit of 50 percent of your adjusted gross income if you itemize deductions.

Cash gifts may be pledged for payment over a period of years. To be officially recorded, pledges should be made either in writing or by means of a pledge card.

Gifts of Stocks and Bonds. Many donors to the Department of Otolaryngology make outright gifts and pledges in the form of appreciated securities rather than cash, in order to benefit from the extra tax advantages.

If you itemize, you are entitled to a charitable income tax deduction for the full value of your gift, provided that you have owned the securities for more than 12 months.

You avoid paying a tax on capital gains which you would owe if you sold the securities. Gifts of securities are deductible for federal tax purposes up to a limit of 30 percent of your adjusted gross income.

Gifts through Bequests. The University of California Foundation has been the recipient of bequests made in wills, both large and small, from many alumni, friends and grateful patients over the years. These donors felt they needed their capital during their lifetimes, but found it possible to associate themselves forever with the Department of Otolaryngology by a bequest at death.

These bequests, no matter how modest, have been welcome and important to the Department of Otolaryngology. To make an unrestricted gift, you may wish to use the following language:

"I give, devise and bequeath unto the UC Irvine Head and Neck Research Foundation, a not-for-profit supporting foundation:
1. all of my residuary estate; or
2. a portion of my residuary estate equal to ___% thereof; or
3. the following described property; or
4. the sum of _____________."

If you choose to restrict your gift further, such as to be used for research within a specific department, division or specific disease, please contact the Department of Otolaryngology for suggested language.

The value of the bequest to the Department of Otolaryngology is deductible for estate tax purposes, and there is no limit on the amount of the deduction.

It is helpful, once you designate the Department of Otolaryngology, if you notify the Department of Otolaryngology in writing that you have made a provision in your will.
 

Gifts of Closely Held Stock. If you own stock in a closely held corporation, you can use such stock to make a gift to the Department of Otolaryngology that will bring you substantial tax benefits. There are a number of strategies you can use to structure the gift according to your circumstances.

Gifts That Provide Income. You may wish to make a substantial gift to the Department of Otolaryngology but feel you cannot afford to give up the annual income produced by the asset. Our life-income gift program offers several ways to help you make such a gift, while retaining an income for your lifetime.

The benefits to you, the donor, vary, but all these arrangements have the following attractive features:

" Income for life paid to you and/or another beneficiary, such as your spouse of another family member;
" Increased income if a gift is made to a life income plan that produces a higher yield than the donated asset;
" An immediate federal income tax deduction for a portion of the value of the gift; and
" Elimination of capital gains tax at the time of transfer if the asset is in the form of securities or real estate that have appreciated in value.

We will be pleased to discuss with you and your tax or estate planning advisor the various options which you may wish to consider when planning a life-income gift.

Gifts of Real Estate.

Almost any kind of real estate can make a valuable gift to the Department of Otolaryngology: a primary residence, vacation home, farm, commercial building, or an undeveloped parcel of land. You can even contribute your residence now and still reside in it for life.

As with gifts of appreciated stocks, bonds, mutual funds, and personal property, no capital gains tax is due when you donate appreciated real estate; you are entitled to an income tax deduction in the amount of the appreciated value of the real estate; and you avoid estate taxes on the appreciated asset.

Gifts of Personal Property. In planning your estate, remember that valuable collections, works of art, and other forms of tangible property may be subject to estate taxes. By donating such items during your lifetime rather than at your death, you not only reduce your taxable estate but also reduce your taxable income in the year of the gift.

For a gift of tangible property, you are entitled to an income tax charitable deduction amounting to the property's fair market value, provided the use of the object is directly related to the Department of Otolaryngology's tax-exempt functions. If the property cannot be used directly by the Department of Otolaryngology, your tax deduction is the lesser of the property's original cost or the fair market value. A charitable remainder trust is a particularly useful way to make a gift, insofar as the donor may retain the income from the investment during his/her lifetime.
 

All gifts should be made to the
Department of Otolaryngology - Head and Neck Surgery Research Foundation
and are tax-deductible in accordance with
the Internal Revenue Code.

For further information contact:
Roger Crumley, M.D.

Professor and Chair Emeritus

Department of Otolaryngology - Head and Neck Surgery

101 The City Drive South, Building 56, Suite 500

Orange, CA 92868

714-456-5853 ,

rcrumley@uci.edu
 

The Foundation is an independent not-for-profit supporting foundation under IRS code 501(c)(3) and gratefully accepts gift of cash, pledges, and property, such as stock or securities, and planned and deferred gifts such as wills and bequests, gift annuities and trusts. Unrestricted gifts are encouraged. If you wish to designate your gift, please note the program, department or disease to which the gift is to be applied or for more information contact Dr. Roger Crumley.