Grateful and Giving Back

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Mary Sewatsky always knew she wanted to be a doctor. But, growing up as one of nine children in a small Pennsylvania town, she knew her parents could not afford to send her to medical school. If she wanted to pursue her dream, she would need to find a place that offered affordability, and she would need a little help.

That help came in the form of a scholarship offered by Temple University School of Medicine, an act made possible because of another's philanthropy that she has never forgotten. And her dream was realized when that scholarship opened the door for her to the world of medicine, and in particular in Temple's philosophy of treating the patient first. "That is the hard part of medicine," she notes. "The people side. But that is also the rewarding part."

That patient-first philosophy made Temple her perfect match, and in the 30-some years since her graduation, Dr. Sewatsky has carried those values with her, in her practice of medicine and in her personal interactions. She works hard to ensure that visitors to her emergency room in Scranton, PA, receive the highest-quality medical care and the personal attention they deserve. "You aren't treating an illness or an injury," she says. "You are treating a person."

When Dr. Sewatsky and her husband were doing their estate planning, they thought of ways they might demonstrate, primarily to their children — both of whom are studying medicine themselves — the importance of those values, and of giving back. So they named Temple University as a beneficiary of their wills. Making this gift, says Dr. Sewatsky, was a way of living her values, and, she hopes, provide a teaching moment for future generations — that if you're not putting other people first, you're missing the most rewarding part.

A charitable bequest is one or two sentences in your will or living trust that leave to Temple University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Temple University, a nonprofit corporation currently located at 1801 N. Broad Street Philadelphia, PA 19122, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Temple University or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Temple University as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Temple University as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Temple University where you agree to make a gift to Temple University and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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