Today's News

Saturday, March 3, 2001

OREF endowment benefits the profession

"Our orthopaedic specialty has helped each and every orthopaedic surgeon through education and research. We owe something back to our specialty, which has made a positive impact in our lives." - Mahendra Patel, MD.

Each year an increasing number of individuals are recognizing the benefits of tax and estate planning and making long-term commitments to foundations and other philanthropic organizations. Both recipient organizations and individuals who make these commitments benefit from their philanthropy. It is truly a win-win situation.

Simply stated, endowments are legacies that provide funding in perpetuity. In 1993, the leadership of the Orthopaedic Research and Education Foundation saw an endowment as a vital means for creating perpetual funding for research and education within orthopaedics. Since inception, OREF's endowment has exceeded the $12 million mark in cash value, and has expanded to include 19 multi-donor funds to which individuals can direct their support. New endowments are being added frequently.

How does the specialty win? With planned gifts and deferred gift arrangements such as charitable remainder trusts, life insurance, and bequests, the foundation can provide funding for grants and awards long after the initial commitment is received. This type of giving is the lifeblood for perpetuating the continued enhancement of orthopaedics. It is through endowments and charitable gift planning that an organization like OREF can provide for research and education in perpetuity.

How do individuals win? Along with helping to perpetuate the growth of the specialty, planned gifts have benefits intrinsic to each vehicle. In many cases, long-term commitments offer tax deductions, avoidance of long-term capital gains, and increases in income and effective rates of return.

In the case of OREF, individuals who make commitments of cash or stock at a minimum of $20,000 or deferred commitments of $50,000 more not only become a member of the Alfred R. Shands, Jr. Circle Recognition Society, but also have multiple options on where they can elect to direct their support. Below are just a few of an individual donor's options:

Endowments are blueprints for the future. Innovative organizations such as OREF continue to help design the future of orthopaedics. It is a foundation that is here today, here tomorrow and here to stay.

For more information about OREF please visit the booth, located in the Concourse next to the Gateway Ballroom near Hall A or at the web site: www.oref.org.

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Last modified 20/February/2001 by IS