Trustee supports Institute with a tax-wise gift

As a primary care physician and former Dean for Faculty Affairs at Harvard Medical School, Eleanor has a unique understanding of the critical role that basic and clinical research play in developing treatments for eye disease. In fact, Eleanor believes that “the discoveries made at Schepens Eye Research Institute will help preserve eyesight all over the world.”

Although Eleanor and her family have not been afflicted with eye disease, she feels strongly enough about the work at the Institute that in addition to her stewardship as Trustee, she has also chosen to support the Institute financially. As Eleanor recently remarked, “Individual gifts are essential complements to federal and foundation support if the talents of our researchers are to be fully realized.” In 2006 Eleanor was able to take advantage of the recently enacted Pension Protection Act (PPA) to make a gift with funds distributed directly from her IRA. In the past, one would have to with- draw money from his or her IRA and pay income taxes on the withdrawal before making a charitable gift. Under the PPA, individuals aged 70 1/2or older can transfer funds directly from their IRA to charitable organizations, without having to declare the distribution as taxable income. However, like most favorable tax laws there is a catch: these gifts can only be made in 2006 and 2007. By making a tax-wise gift last year, Eleanor was able to enhance her contribution to Schepens Eye Research Institute, and she and her husband, Miles, plan to do the same again in 2007.

Upon her retirement two years ago, Eleanor decided to cut back on many of her activities so that she could spend more time with her four grandchildren, the youngest of whom (born in late 2006) is named after her. However, she has continued with those causes that are particularly close to her heart. In addition to her Trusteeship at the Institute, she is also active in fundraising for the Shore fellowships, which support junior faculty at Harvard Medical School and its affiliates who might otherwise get derailed from their focus on research. One such fellowship, the Alice Adler Fellowship, supports the activities of junior researchers at Schepens Eye Research Institute. The time that Eleanor has been able to spend with her grandchildren has also given her a greater appreciation for our research. The impact of the Institute’s research may yield benefits to her grandchildren’s generation—sparing many of them from the devastating effects of eye disease.