Doris Roberts recognizes the unique work of the IOM with a planned bequest

Doris Roberts joined the IOM in 1973, not long after the Institute was founded. She considers IOM membership to be among the peak honors of her professional career and recently decided to support the Institute's important work through a bequest in her will...
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Willis H. Ware finds the ideal answer for supporting the NAE and receiving a lifetime income

When Willis H. Ware recently had funds available for investment, he wished to make a significant gift to the National Academy of Engineering, but he also wanted to provide a revenue stream for the duration of his and his spouse's joint lifetimes. A charitable gift annuity (CGA) with the NAE was the ideal answer.
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Overview:

A charitable gift annuity enables you to make a gift to support the important work of the National Academies while receiving a lifetime income at a high rate, plus significant tax deductions, in return. At the end of your life, the remaining principal is used to provide either general support, or program-specific support, to the NAS, NAE, IOM, or NRC. CGAs are especially popular now, when interest rates on CDs, money market funds, and many other investments are near their historic lows. Academies' CGAs are managed by TIAA-CREF and backed by the financial resources of the National Academies.
Additional information on CGAs from the National Academies' website.

CGA Rates:

Academies' CGAs are available for individuals who are age 50 and above. Rates, which are fixed for life, depend on your age when you establish the CGA. Current rates range from 5.3% for a 50-year-old to 11.3% for an individual who is age 90. Two-life annuities, which pay an income so long as either one of two annuitants is alive, are also popular. The Academies subscribe to rates established by the American Council for Gift Annuities.
Individual Rates
Two-Life (Joint and Survivor) Rates

Wall Street Journal Article:

The Charitable Gift Annuity can play a useful role in retirement income planning for people with philanthropic intent, according to a recent article by popular "Getting Going" columnist Jonathan Clements ("How to Give Your Nest Egg To Charity and Get a Return," December 3, 2003). Clements writes that he often suggests for retirees to "stash maybe 25% of their nest egg in an immediate-fixed annuity, thereby locking up a generous stream of lifetime income." "But," Clements continues, "if you're charitably inclined, an even better alternative might be a charitable-gift annuity from your favorite religious organization, medical institution, university or other nonprofit group."

This article is available online for 30 days (view article); or you may request a reprint by calling the Academies' development office at 202-334-2431.

CGA Illustration:

To receive an illustration of the benefits of a CGA, including associated tax deductions, you may complete a confidential form on the Academies' secure web server, or call the Academies' development office at 202-334-2431.

Overview:

The National Academies' Estate Planning Resource Center offers objective assistance in estate planning matters to members of the NAS, NAE, IOM, and NRC study committee volunteers. It consists of four elements:

1. Personal telephone consultations with a leading estate-planning attorney. The Academies have retained the services of Mark Weinberg, Esq., of Weinberg and Jacobs LLP, to answer your questions about all aspects of estate planning. The service is designed to provide you with quick answers or introductions to more complicated matters that will require the services of your own attorney. Mark is reachable via e-mail (paladin@wjlaw.com) and telephone (301-468-5500).

2. "Insight," the estate planning newsletter of the National Academies. This newsletter is e-mailed three times per year to Academies' members and NRC volunteers who have provided us with their e-mail addresses. Copies of previous issues are available on the Academies' online estate planning resource center: Insight back issues.

3. Online Estate Planning Resource Center, available on the Internet at www.NationalAcademies.org/Insight. This site includes links to the Planned Giving Design Center (a resource that contains estate planning and planned giving information and calculators) as well as links to articles on estate planning and information on locating an estate planning attorney.

4. Estate Planning Seminars, held at annual meetings of the National Academy of Sciences, National Academy of Engineering, and Institute of Medicine.

Highlighted Article:

"Innovative Strategies for Using Life Insurance in Charitable Giving."

Each issue of Insight highlights a recent article from the Planned Giving Design Center. You may access articles in the PGDC by clicking the following link: Planned Giving Design Center Articles. This month's featured article discusses basic life insurance gifts and describes a unique strategy that enables donors and nonprofit organizations to use life insurance to produce substantial current cash benefits.

For additional information, contact the Academies' Director of Estate-Based Philanthropy, Merrill Meadow (202-334-2431), or Senior Development Officer John Kendrick (202-334-2207). If you have philanthropic interests, they would also be pleased to discuss how the support of members and friends enables the Academies, including the NAS, NAE, IOM, and NRC, to expand our important work while providing estate and income tax benefits to the donor.

We hope these resources will be helpful; we also urge you to discuss all important financial and estate planning issues with your tax advisor, financial planner, and attorney.

Insight is Now Delivered by Email
Insight, the estate planning and philanthropy newsletter of the National Academies, is now being delivered via e-mail rather than traditional mail. This enables us to reach a broader audience while providing links to a variety of helpful online resources. We would be happy to receive feedback on this new format via e-mail at: insight@nationalacademies.org.

-- John Kendrick, Insight Editor

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Inquiries may be directed to: The National Academies, Development Office - NAS 052, 500 Fifth Street N.W., Washington, D.C. 20001. Telephone: 202-334-2431.