Giving Options
As a non-profit organization, the Institute is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Service Code. Contributions by individuals, corporations, organizations and other foundations qualify for tax deduction to the full extent provided by law.
Gifts to BRNI can be in any amount and be in the form of cash, marketable securities, real estate, personal property, life insurance or bequests (wills).
For others, supporting BRNI through long term planning — by the addition of a gift provision to a will or consideration of other gifting opportunities — may be a preferable alternative. As you protect your family’s future financial interests through your estate planning, you might choose to have your attorney include a gift with the wording of “to the Blanchette Rockefeller Neurosciences Institute (Tax I.D.# 55-0771139)” in your will or revocable trust.
Outright Gifts
Donations may include cash, marketable securities, real estate, mutual funds or personal property. Donors can receive a tax deduction based on the value of the gift and can avoid capital gains tax when an appreciated asset is donated.
Pledges
A pledge can be made over a five-year period with a written commitment to give. Donors can receive a tax deduction when the gift is made.
Endowments
A donor can create an endowment, which will last forever. Endowed funds are held in perpetuity, which means they will be invested to sustain the mission of BRNI across generations. The initial endowed gift is invested and only the income is spent. The donor’s or designee’s name can be permanently associated with an outstanding scientist or entire research area.
Gifts are commonly made in the form of cash, marketable securities, real estate, personal property, life insurance and through bequest in wills and irrevocable trusts. Minimum amount for creation of an endowment is $25,000. Endowments can be built up over a 5-year period. These gifts are tax deductible to the donor.
Naming Opportunities
The construction of the Institute’s new research building offers an ideal time to permanently link a donor’s or designee’s name with the research that will bring hope of new treatments and even a cure for these devastating diseases of the mind. The available opportunities include complete research suites, specialized laboratory facilities, state-of-the-art equipment, an atrium and conference areas. Naming opportunities can be done through a pledge made over a 1-5 year period.
Partners in Science Program
The Institute has a partnership initiative called BRNI Partners in Science. Each year, this program will support key research initiatives. This year gifts to the BRNI Partners in Science Fund will provide support for the greatest needs, as determined by the Institute’s Executive Director, within these two important research projects: continued bryostatin studies; and further diagnostic testing. Gifts are accepted at any of the following three levels: Pioneers: $100,000 or more, Explorers: $25,000 - $99,999, or Investigators: $10,000 - $24,999.
Planned Gifts
Many donors think about tomorrow’s opportunities. If you wish to consider future planning, you might include a gift to BRNI in your will or revocable trust, provide a gift that produces a lifetime income and charitable deductions for you, or even donate life insurance and real estate. Another option is to make BRNI the after-death beneficiary of a retirement account. We can arrange for an illustration of this option with individualized financial projections and provide all of the information you need to make these decisions. Being able to maintain or even improve your current estate while assuring your desire to support the research efforts of the Institute makes these options attractive. You may avoid or reduce capital gain taxes when an appreciated asset is donated to establish a planned gift.
Securities
Stocks or mutual funds may be electronically transferred to BRNI through our agent, the WVU Foundation. Stocks that have appreciated in value provide the most tax benefits. Donors may receive a charitable deduction for market value if stocks have been owned more than one year. A donor may receive a charitable deduction for cost basis if stocks have been owned less than one year.
Matching Gifts
Many companies match their employees’ donations. Company human resource departments generally have information on such matching gift programs. Both the original donor and the company may receive a tax deduction for their respective portions of the gift.
Gifts-In-Kind
Gifts-in-kind are gifts of physical property intended for use by the Institute. If the in-kind gift is in excess of $5,000, it requires: donor completion of an IRS Form 8283, a BRNI acknowledgement statement verifying the receipt of the gift, and a qualified appraisal for tax purposes.
To learn more about any of these options, you can contact the BRNI Development Office by:
MAIL:
Blanchette Rockefeller Neurosciences Institute
PO Box 9301
Morgantown, WV 26506-9301
PHONE:
(304) 293-3692
FAX:
(304) 293-7536
E-MAIL:
brni-development@brni.org