Our patient families often inquire about possible options available to them when they are considering making a gift to St. Jude Children's Research Hospital. Listed below are some questions and answers that you may find helpful.
Named Current Use Fund
At St. Jude you can establish a Named Current Use Fund which allows you to help fund a specific area of research currently being studied at St. Jude. A Named Current Use Fund can also be established to provide support for patient care. Donations made to this fund will be spent in the year they are received to make an immediate impact in our research and care. Your Named Current Use Fund can be established with a minimum of $50,000 over the first 5 years. By establishing this fund you and others can contribute to this fund regularly. An annual report will be provided that will not only inform you on who has contributed to your fund, you will also receive a Research Progress Report that will allow you to tract the impact your gift is making. You will also receive special recognition at the Hospital on our Supporters Wall. If you would like more information on how to establish a Named Current Use Fund, please contact the Gift Planning Department at 800-877-5833.
Named Endowment Fund
You can establish a Named Endowment Fund at St. Jude that will help us continue to make breakthroughs in science and medicine. Donations made to this fund will be invested in perpetuity and only the income from the fund will be spent to support the hospital. This ensures your gift will always contribute to the life saving work of St. Jude. You can establish an endowment in your own name, in the name of your family business, or in honor of someone important to you. You can specify how the endowment income will be used such as a particular area of research or patient care at the hospital. An Endowment can be established with a minimum of $250,000 over the first 5 years. A Research Progress will be sent to you annually that will allow you to tract the impact your gift is making. You will receive special recognition at the Hospital with a plaque on our endowed fund display in the Board Room. For more information on establishing an Endowment at St. Jude, please contact the Gift Planning Department at 800-877-5833.
Tribute Gifts at St. Jude
A tribute can commemorate a person's life, a birthday, an accomplishment, an anniversary or a simple reflection. It's an expression of caring that connects relatives and friends worldwide. An online tribute page, with a picture and testimonial can be viewed anywhere, anytime. Through this Tribute option you will be able to: Create the tribute web page, monitor the tribute donations, send e-mail to friends and family, accept on-line credit card donations and print end reports. Once a tribute fund reaches $2,500 you are eligible for a special plaque on our tribute wall if the plaque is requested. The tributes page can be found at www.stjudetributes.org or you can contact our tributes department by email at firstname.lastname@example.org or call 800-873-6983.
St. Jude families often ask us if we think they should establish a Family Foundation that will allow them to raise money and give grants to St. Jude. We cannot provide legal advice on establishing a family foundation. It is essential for you and your adviser to understand at the outset the basic legal rules that govern the formation and regulate the activities of foundations. Each state has its own set of statutes that set out the rules for forming and running a foundation. When forming any organization, you and your advisor will need to research local filing requirements, such as charitable solicitation, local business registration, sales tax exemption and state income tax exemption. You can obtain more information by visiting the Council on Foundation’s website at www.cof.org.
Some Alternatives to Starting a Private Foundation
Establish a Donor-Advised Fund through your local Community Foundation. Donor-advised funds make philanthropy administratively simpler if one of your goals is to lessen your day-to-day obligations. In a donor-advised fund, donors make an irrevocable contribution to a fund, claim a charitable deduction on their income tax returns, and then recommend how the money in the fund should be distributed to charity. Public charities (e.g., community foundations) take the responsibility of managing such funds. Most accept gifts of cash, publicly traded stock, real estate, and other assets like closely held stock and life insurance. The donated funds are invested in the financial market, so they can keep growing. You can take the tax deduction (typically up to 50 percent of your adjusted gross income for cash gifts and 30 percent for appreciated properties such as stock) for the tax year in which the donation was made. To find a community foundation in your area, visit the Council on Foundation’s website at www.cof.org.
Individual donors may explore various planned giving options, such as bequests, charitable remainder trusts, charitable lead trusts, pooled income funds and charitable gift annuities. These usually involve a split income arrangement where the donor receives an income stream during his or her lifetime and St. Jude receives an outright gift after a term of years. ALSAC/St. Jude’s Gift Planning staff can help you answer questions about making a planned gift. In order to meet with a staff person please call 1-800-830-8199.