A Win-Win Way to Help Others

Dr. Anthony Melaragno

Dr. Anthony Melaragno ’69 ’73

The Ohio State University laid a strong foundation for Dr. Anthony (Tony) Melaragno’s career as a physician. “I loved my time at Ohio State, both during my undergraduate years and my time at the College of Medicine,” said Tony. “The educational and research opportunities prepared me for an exciting and successful career in the U.S. Navy and later in the private sector.”

During his time at Ohio State, Tony often relied on loans and scholarships to continue his medical career pursuits. He has shown his appreciation for his Ohio State education by donating to several different programs and projects over the years. His primary focus has been on supporting student scholarships.

When his son was attending Ohio State’s College of Medicine, Tony met several other students who were piling up hundreds of thousands of dollars in debt for their education. Many of these students were choosing their specialties based on how it would help them repay their loans instead of what they enjoyed most.

“Each student should be able to pursue a career they love without worrying about costs,” said Tony. “It is important for me to do my part to help future medical students pursue their dreams.”

Tony decided to donate to the Class of 1973 (4 Year Program) scholarship fund through a charitable gift annuity. This type of gift is a great way to make a gift to Ohio State while receiving the security of fixed lifetime payments and tax benefits.

“By donating through a charitable gift annuity, I can designate the funds directly towards scholarships, receive tax benefits and secure a steady stream of income until my wife and I pass,” he said. “It feels like a win-win situation.”

With Tony’s help, the Class of 1973 (4 Year Program) scholarship fund continues to grow and is one of the largest in the College of Medicine. The thank you letters he receives from scholarship recipients clearly demonstrate the strong impact that scholarships have on students every year.

A charitable bequest is one or two sentences in your will or living trust that leave to The Ohio State University Foundation 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 The Ohio State University Foundation, a nonprofit corporation currently located at 14 E. 15th Ave., Columbus, OH 43201, 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 Ohio State or other charities.

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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Ohio State as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Ohio State 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 Ohio State where you agree to make a gift to Ohio State 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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