BUILD A LEGACY OF HOPE AND HEALING
Levy Family Gives Back to Conquer Cancer at Tower
“As a breast cancer patient with two daughters, I know how important research is to finding the newest and best treatments[…]. [O]ur legacy gift will help to ensure that the essential work of Tower—whether for community grants, psychosocial programs, innovative cancer research or the pure science research grants that are the core of our mission—will continue to grow and lead to miraculous advances in cancer treatments.”
- Abby Levy, Founding Member of Tower Legacy Society
Our Legacy Society members share a common bond: a vision for building a foundation for new cures, support for patients and advancing research that will save lives. Your generosity will ensure our ability to meet the priorities of the future, including:
- Early-stage ideas that push the boundaries of science and are not yet eligible for federal funding
- Senior Investigators close to making treatment breakthroughs
- Technology and equipment that accelerate discovery
- Supportive programs for patients and caregivers to manage the challenges of a diagnosis
PLANNED GIVING IN THREE EASY STEPS
TYPES OF PLANNED GIFTS
Wills and Living Trusts | The most popular way to leave a legacy
Wills and Living Trusts
- A simple, flexible and versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, known as a charitable bequest.
- As little as one sentence of bequest language is all that is needed to complete your gift. By including a bequest to Tower in your will or living trust, you are ensuring that we can continue our mission for years to come.
- Sample Language: “I give to Tower Cancer Research Foundation, a nonprofit corporation currently located at 8767 Wilshire Blvd., Suite 401, Beverly Hills, CA 90211, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.
- If you aren’t ready to give up these assets during your lifetime, a gift of securities through your will or living trust allows you the flexibility to change your mind at any time. You can continue to receive dividends and participate in shareholder votes, and the securities are still yours if you need them for other expenses.
Beneficiary Designations | Simplest way to leave a legacy
Not only is it an easy way to give, but it’s also flexible—you aren’t locked into the choices you make today. Name Tower as a beneficiary to receive assets such as retirement plans and life insurance policies after you’re gone. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give. You can review and adjust beneficiary designations anytime you want.
- Retirement Plans and IRAs
- A retirement plan or IRA is typically the largest source of assets that generate taxable income when paid to a beneficiary. Therefore, if you are considering a gift to our organization after your lifetime, it is usually better to leave taxable assets to us and give nontaxable assets to your loved ones.
- To complete your gift, simply contact your retirement plan or IRA administrator (or visit their website) and complete a beneficiary designation form naming our organization as beneficiary and the percentage you’d like us to receive (1-100). Then mail it back to the plan administrator and keep a copy for your records. Beneficiary forms are filled out on your terms and can be changed at any time.
- A transfer on death (TOD) account
- By placing a TOD* designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. It is not necessary for the TOD designation to transfer all of the account solely to charity—you can designate a certain percentage of the account. With a TOD account, the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.
Appreciated Assets | A growable legacy
An appreciated asset has a higher market value than its book value or taxable value and which, upon its sale, will generate a capital gain.
- Real Estate - A gift that can be impactful now!
- If you want to make a big gift to Tower Cancer Research Foundation without touching your bank account, consider giving us real estate. Such a generous gift helps us continue our work for years to come. And a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. You avoid paying capital gains tax. And you no longer have to deal with that property’s maintenance costs, property taxes or insurance.
- You don’t have to hassle with selling the real estate. You can deed the property directly to Tower or ask your attorney to add a few sentences in your will or trust agreement.
- Stock - A gift that can be impactful now!
- Your broker can assist you in making a gift of stock via a direct transfer to Tower Cancer Research Foundation. Giving a gift of publicly traded stock that has increased in value and that you have owned for more than one year may provide greater tax benefits than giving cash.
- Your charitable income tax deduction is equal to the fair market value of the stock and you avoid paying the capital gains tax on any increase in the current value over the original cost of the stock. You may also save by not incurring brokerage fees because you are transferring ownership rather than selling the stock
- Donor Advised Funds
- When you contribute to a donor advised fund with appreciated securities, you may receive a federal income tax charitable deduction for the fair market value of the asset and eliminate capital gains tax. Because of our nonprofit status, Tower does not pay capital gain tax when we sell the gifted securities.
- A donor advised fund is like a charitable savings account you set up at a qualified public charity called the “sponsoring organization.” It allows for centralized giving and gives you the flexibility to recommend how much and how often money is granted to charitable organizations. You can transfer cash or other assets to the sponsoring organization. In return, you qualify for an income tax charitable deduction for gifts to your donor advised fund.
- You can open your own donor advised fund with a written agreement between you and the organization that gives you (or other family members) the right to recommend the distributions made from your fund. You can also create a lasting legacy by naming your loved ones as your successor to continue to recommend grants to charitable organizations, or you can name Tower Cancer Research Foundation as a beneficiary to receive all or part of the account after your lifetime.
Endowed Gifts | A never-ending legacy
- When you make a donation to our endowment, you give a gift with both immediate and long-term benefits.
- Endowment donations are invested. A portion of the annual income from the investment is used to address immediate needs at Tower Cancer Research Foundation. The remaining funds are reinvested to ensure indefinite support.
For more information, please contact Linda David, Executive Director, at (310)299-8472 or [email protected]
Angie David’s legacy considers her grandchildren
“Cancer is a terrible sickness. It claimed my husband’s life and the lives of many of my friends. While I pray for a cure in my lifetime, I want to ensure the work continues until there are answers, even if I’m not around to see it. I have invested in Tower in the hopes that Tower is the one to find the answer.”
- Angie David, Founding Member of Tower Legacy Society
Benefits and Recognition
Please let us show our great appreciation for your generous vision. When you notify us of your gift to and become a member of the Tower Legacy Society, you receive the following opportunities for recognition and benefits:
- Name recognition as a member of the Tower Legacy Society in all publications
- Name recognition on legacy wall of honor at Tower Cancer Research Foundation
- Invitations to exclusive events
*We respect the privacy of members who choose to remain anonymous and will ensure that you do not receive public recognition if you so choose.
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