Donations are mission-critical to funding our science and research.
HudsonAlpha is passionately exploring and growing the knowledge and possibilities of genomics to create meaningful solutions that improve the quality of human, plant and animal life around the world.
We are grateful to our supporters who choose to give today, as well as those who choose to make deferred gifts, leaving a legacy through HudsonAlpha. Regardless of amount, time and designation of your donation, there are multiple giving tools that can help you strengthen the Institute today and for years to come.
A gift of cash is the most popular way of supporting HudsonAlpha. Gifts of cash are ordinarily tax-deductible up to 50% of your adjusted gross income (AGI) in the year of your contribution (with a five-year carryover for the excess not utilized).
Next to cash, readily marketable appreciated securities are the assets most commonly donated to HudsonAlpha. When you donate appreciated securities, you generally do not incur any capital gains tax. To ensure that we are able to properly acknowledge your gift for income tax purposes, please notify us in advance by completing the Gift Notification Form and emailing it to email@example.com or mailing it to The HudsonAlpha Foundation, attn: Erin Robertson, 601 Genome Way, Huntsville, AL 35806.
Bequests (specific, residuary and contingent gifts made by will) are the most popular type of planned gift, enabling donors to make significant contributions that can be crucial to the long-term growth and success of HudsonAlpha. You can allow HudsonAlpha to use your gift where it is most needed at the time it is received or designate it to support a specific mission area. Either way, you have chosen to leave a meaningful and lasting legacy. A bequest may also help you meet your financial and estate-planning goals since an estate-tax charitable deduction for the entire amount of the gift is allowed.
Charitable remainder trusts allow you to make a gift to HudsonAlpha and, at the same time, earn an income. These separately managed trusts can be tailored to meet your financial goals. To establish a remainder trust, you make an irrevocable contribution of cash, securities, or other property, which is placed in trust. The trust pays an income stream to one or more named beneficiaries (which can include you) for life and/or a set term (not to exceed 20 years), and HudsonAlpha receives the right to principal as a remainder interest. The two most common types of charitable remainder trust are: (1) the annuity trust, which pays a fixed dollar amount each year based on a percentage (at least 5%) of the initial fair market value of the trust assets; and (2) the unitrust, which pays a variable income stream based on a percentage (again, at least 5%) of the fair market value of trust assets as revalued each year. Charitable remainder trusts are typically funded with assets worth $100,000 or more. Establishing such a trust generally entitles you to claim an immediate income-tax charitable deduction.
A charitable lead trust is the reverse of a charitable remainder trust; the gift to HudsonAlpha is the income stream from the trust, not the remainder. Charitable lead trusts enable you to provide an income stream to HudsonAlpha immediately for a set term of years or for a term measured by one or more lifetimes after which the trust assets pass to you or your estate or to your heirs. Leaving the asset to heirs can significantly reduce the gift or estate tax that would otherwise apply. If you think a charitable lead trust could be a useful way to structure a gift to HudsonAlpha, you should review the alternatives for structuring the trust with your financial, tax and legal advisors.
Assets in qualified (tax-deferred) retirement plans may represent a large portion of your total assets and therefore may be an important factor in planning testamentary charitable gifts. Left to family members or friends, these assets are subject to income tax and may also be subject to estate tax and generation skipping transfer tax. Because of this potential double layer of tax, retirement plan assets may be particularly attractive as an asset to leave to HudsonAlpha.
Naming the HudsonAlpha Foundation the beneficiary of an existing life insurance policy that is no longer needed to provide for dependents offers a simple way to support HudsonAlpha. Since you are the policy owner, the value of the policy will be included in your estate, but an offsetting estate-tax charitable deduction will generally be allowed. You may also be able to assign an existing whole life policy to HudsonAlpha, irrevocably making HudsonAlpha the owner and beneficiary, and claim an income-tax charitable deduction in that year.
When you make a gift of real estate you have owned longer than one year, you obtain a federal income tax charitable deduction equal to the property’s full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes. By donating the property to HudsonAlpha, you can eliminate capital gains tax on its appreciation. Gifts of property must be reviewed and approved by the HudsonAlpha Board of Directors prior to acceptance. You can also make a gift of real estate through your will or living trust allows you the flexibility to change your mind and the potential to support our work with a larger gift than you could during your lifetime. In as little as one sentence or two, you can ensure that your support for HudsonAlpha continues after your lifetime and that your estate will benefit from a federal estate tax charitable deduction. With a Retained Life Estate, the donor irrevocably deeds a personal residence or farm to HudsonAlpha, but retains the right to live in it for the rest of her life, a term of years, or a combination of the two. The term is most commonly measured by the life of the donor or of the donor and the donor’s spouse. Even though we would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you receive an immediate federal income tax charitable deduction for a portion of your home’s value.
For more information, please contact Karen Petersen at 256-327-9434 or firstname.lastname@example.org.
Before making a planned gift to the HudsonAlpha Foundation, you should consult with your financial, tax, and legal advisors for a thorough analysis of your individual situation and potential tax benefits and consequences.
The HudsonAlpha Foundation, a 501(c)(3) nonprofit organization, is the supporting entity for the HudsonAlpha Institute for Biotechnology. Tax-deductible contributions to the foundation are for the sole purpose of advancing the mission of the HudsonAlpha Institute for Biotechnology.
Tax identification #27-2320591