Meet donors
John P. Frazer '35, '39MD
In 1992, in order to make a substantial gift to my field of interest at the University of Rochester School of Medicine and Dentistry, while also providing a tax-advantaged income during our lifetimes, my wife Doris and I transferred our home in Hawaii to a charitable remainder unitrust. The University, as trustee, sold the home and invested the proceeds to provide us with income for life. By so doing, we benefited from an immediate income-tax deduction, removed the property from our estates, avoided capital-gain tax, turned the burden of selling the property over to the University, and provided generous support for otolaryngology.
When individual circumstances are right, a gift of real estate can be one of the most advantageous ways to fund a charitable gift. We were delighted to be able to accomplish so much good for the University, while enjoying significant lifetime income benefits ourselves.
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