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Ways of Giving

The Macula Vision Research Foundation was created with a shared vision of the future - one in which all people keep their sight, the most precious of our five senses.

Research does not progress unless you do it! Treatment and cures are not discovered unless research is funded. We offer a variety of ways for providing meaningful support for research while addressing your own financial issues and charitable goals. In addition, you invest in present and future vision scientists who are working to save sight for millions of people. Many of our research initiatives have been made possible through the generosity of thoughtful and caring benefactors.

Medical and scientific research provides great opportunities and challenges. Each day we learn more about the possible prevention and treatment for macular degeneration. Each gift helps us to learn more.

Following are "ways of giving" in which you can support the Macula Vision Research Foundation and create benefits for you and your family.

In all cases, we are pleased to assist you in designing a gift to improve the vision of the future.

Method of Payment

Annual Giving:

Capital Gifts:

Combination Annual and Capital Gifts:

Type of Assets

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Method of Transfer

Outright

To satisfy either a one-time gift or a pledge, outright gifts of cash should be made payable to Macula Vision Research Foundation and mailed to:

Ms. Lea Bramnick
Executive Director
Macula Vision Research Foundation
Five Tower Bridge
300 Barr Harbor Drive, Suite 600
West Conshohocken, PA 19428-2984

Outright gifts of appreciated securities may be transferred to the Macula Vision Research Foundation as follows:

  1. Send the unendorsed stock or bond certificates by regestered mail to:

    • The Foundation (at the above address)
    • The Foundation's broker
    • The donor's broker with instructions to deliver to the Foundation
    • The Transfer Agent of the corporation issuing the securities with instructions to deliver to the Foundation
    • On the same day, but under separate cover, send the executed stock powers by registered mail to the same place.

  2. Have the donor's broker contact Lea Bramnick at 610-668-6705 to advise her of your gift, and receive further instructions.

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Life Income and Annuity Arrangements (Planned Gifts)

Gifts of this type may provide ways to give to the Macula Vision Research Foundation now, without reducing the donor's income, and often in ways that improve the donor's overall financial situation. Simply put, a life income or annuity gift is an irrevocable donation of marketable securities, cash or other approved assets, to the Macula Vision Research Foundation, whereupon we invest the donated assets and pay the donor or his/her individual beneficiary a regular return for life (or a term specified by the donor). After the death of the designated individual beneficiary (or at the end of a term of years), the remainder of the donated assets passes to the Macula Vision Research Foundation.

The donor receives a charitable deduction, calculated as the present value of the Macula Vision Research Foundation's remainder interest in the gift. The calculation of the deduction is a function of the donor's age or term and the income rate of the gift. The management and investment of the donated assets are the responsibility of the Foundation. We offer several types of such gifts.

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Charitable Gift Annuity

The simplest life income gift arrangement is a contractual agreement between you and the Macula Vision Research Foundation. In exchange for your gift of cash or securities, the Foundation will provide you with a guaranteed, lifelong annuity, a portion of which is tax-free.

The annuity has an attractive provision for the taxation of this income; a portion of each payment is treated by the IRS as the non-taxable return of the donor's principal; another portion is taxed as a capital gain to the donor if appreciated assets are contributed; and the balance is taxed as ordinary income.

The Foundation will consult with the donor and the donor's advisers regarding each gift annuity.

The donor may contribute cash, securities, or other approved assets to establish a gift annuity. The annuity may have no more than two annuity beneficiaries.

The minimum contribution for a gift annuity is $25,000.

Deferred Gift Annuity

A deferred gift annuity is a contract providing for the payment of a guaranteed, fixed return, like a regular gift annuity. However, annuity payments do not begin until a future date, chosen by the donor. The longer the delay between the creation of the deferred gift annuity and the commencement of payments, the larger will be the charitable deduction resulting from the gift.

Individuals who find they can no longer deduct their IRA contributions or make substantial contributions to their pension fund may prefer to use that money to create a deferred gift annuity benefiting the Macula Vision Research Foundation. They choose when they want to deduct a large portion of their gift (determined by their age, the length of the period prior to payments, and the rate of return of the annuity). In this way, donors ensure a guaranteed retirement income, receive a charitable tax deduction during present, high-earning years, and make a gift to the Macula Vision Research Foundation, using money they had already budgeted for savings.

The IRS does not permit additional contributions to an annuity gift. However, a donor may establish sequential deferred gift annuities in each year up to his or her retirement, and then begin to draw combined income from the total gifts contributed to each annuity.

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Charitable Remainder Unitrust

This is a separate trust created by the donor, paying the donor a "unitrust" payment equal to a fixed percentage of the annual value of the principal. At the donor's death, the remainder in the trust goes to the Macula Vision Research Foundation. The unitrust payment may be paid quarterly, semi-annually, or annually, at the donor's option. The Foundation will consult with the donor and the donor's advisers concerning the designation of the trustee and the trustee's responsibilities.

The fixed percentage for the trust is determined by the donor, in consultation with the Foundation's Office of the Treasurer, but must be at least five percent. As with other life income gifts, however, a higher annuity rate for the unitrust will generate a lower charitable deduction, and will mean a smaller growth of the principal that ultimately goes to the Macula Vision Research Foundation.

Because the unitrust requires individual financial management by the trustee, we suggest a minimum contribution level of $100,000.

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Charitable Remainder Annuity Trust

This is the same type of gift vehicle as the unitrust, except that the income payment is a fixed dollar amount or fixed percentage of the contributed assets valued when the gift is established.

Because the annuity will not vary, the annuity trust is attractive to donors seeking secure and stable future income.

Like the unitrust, we suggest a minimum contribution to an annuity trust of $100,000.

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Term Trust

A unitrust or annuity trust may run for a shorter period than the lives of the annuity beneficiaries. An example of the benefits of a term trust:

If a donor wants to provide tuition support for a child or grandchild, it may be wise to make him or her the beneficiary of a five-year term trust. At the end of that period, the assets of the trust will pass to the Macula Vision Research Foundation to be used to fund a research project of the donor's choice. The annuity payments will probably have a negligible tax consequence to the young recipients, and the donor will receive a very substantial charitable deduction (because of the limited period during which the annuity will be paid).

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Charitable Lead Trust

A charitable lead trust holds an income- producing asset for a fixed term, or for the life of an individual, during which time an annuity is paid to the Macula Vision Research Foundation. At the conclusion of the trust term, the asset is returned to the donor or to another beneficiary. The lead trust may be designated as either grantor or non-grantor.

If the lead trust is a grantor lead trust, the donor will be entitled to an income tax deduction for the present value of the payments to the Macula Vision Research Foundation in the year that the gift is made. This calculation is determined according to the IRS regulations and is a function of several factors, including the fair market value of the assets held in trust, the term of the trust, the payout rate, and certain investment assumptions.

There is no federal income tax charitable deduction for non-grantor lead trusts; however, the donor gains significant estate and gift tax benefits, which may be of greater priority in his or her financial planning. Trust assets are valued as of the date the lead trust is established, rather than when they pass to heirs, so appreciation is sheltered from estate and gift taxes. In addition, value of the payments to the Macula Vision Research Foundation is deducted from the value of the lead trust asset subject to the estate and gift tax. The result can be a very "taxwise" way of passing appreciating assets to the next generation.

If the lead trust is a grantor trust, i.e., the assets will eventually return to the donor, the donor is fully liable for any tax due on the income generated to the charity. This situation may be minimized if the trust invests in tax-exempt property. A non-grantor lead trust may be subject to tax on income it may earn, but the donor is not liable for any resulting tax.

Cash or any revenue-producing asset may be used to fund a lead trust. No minimum contribution is currently established. We can suggest a contribution adequate to assist in meeting the donor's intended level of support.

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Bequests

Gifts made by will can be one of the Macula Vision Research Foundation's strongest sources of individual support. Bequests can be made in the form of a specific gift of cash, property, or a percentage of the remainder of an estate. The latter allows more flexibility in planning. If you already have a will, it is not necessary to rewrite your entire will. You may simply instruct your attorney to prepare a codicil (an amendment) to your current will.

The following language has been approved by our counsel as an effective bequest to the Macula Vision Research Foundation:

I hereby give to the Macula Vision Research Foundation, a non-profit corporation organized and operating under the laws of the Commonwealth of Pennsylvania, the sum of $_____________ (or "the residue of my estate" or " __% of my residuary estate").

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Life Insurance

The potentially large death benefit payable to the Foundation as a result of relatively small premium payments makes a life insurance policy an attractive planned gift. A gift of life insurance may be made in one of three ways:

  1. Donate an existing or a new, fully-paid up policy, whereby the Macula Vision Research Foundation is formally and irrevocably designated owner and beneficiary on the insurer's records. Purchase a new policy, naming the Macula Vision Research Foundation irrevocable owner and beneficiary.
  2. The donor will most likely be entitled to a charitable deduction for each of these options, depending on the law of his or her state. The Macula Vision Research Foundation will consult with the donor in securing the deduction information.
  3. The insurance industry offers new types of policies that limit the number of premiums that must be paid. Please remember, the IRS requires that the donor irrevocably name the Macula Vision Research Foundation as owner (as well as beneficiary) of the policy in order to secure the tax deduction.

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In Summary

Ways of giving to the Macula Vision Research Foundation are not limited to any single method in this booklet. Donors may wish to combine outright and life income gifts, or they may use a combination of life income arrangements to fund their gift.

The Macula Vision Research Foundation is prepared to meet with donors and their financial advisers to design the most advantageous way of giving.

For more information, please contact:

Ms. Lea Bramnick
Executive Director
Macula Vision Research Foundation
Five Tower Bridge
300 Barr Harbor Drive, Suite 600
West Conshohocken, PA 19428-2984
610-668-6705
lea@mvrf.org

The purpose of this publication is to provide information of a general character only.

The information provided is not intended as legal or tax advice. Please consult an attorney for legal advice when considering these types of gifts. A copy of the Macula Vision Research Foundation's official registration and financial information may be obtained from the Pennsylvania Department of State by calling toll free, within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement.

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