An Investment in the Future of Health Care

Chris and Karen Kaiser, '79

Chris and Karen Kaiser

Chris and Karen Kaiser used a charitable gift annuity to help fund a worthy endowment while ensuring secure retirement income.

As a retiree of Ohio State, Chris Kaiser witnessed firsthand the innovative and lifesaving research, training and patient care performed every day by the Department of Surgery. After a 25-year career, Chris retired as chief operating officer of OSU Surgery, LLC.

Chris and his wife, Karen, feel a strong sense of commitment and affinity not just to the Department of Surgery but to Ohio State and the Columbus area. Karen graduated from Ohio State in 1979 with a degree in elementary education. Their children, Kimberly, '10, and Kevin, '12, also graduated from Ohio State.

The Kaisers have expressed their commitment to the Ohio State Wexner Medical Center by funding a charitable gift annuity. Their gift honors Dr. E. Christopher Ellison, and his tremendous impact on past and current generations of surgeons, staff and patients. It ensures that the fund bearing Dr. Ellison's name continues to positively impact future surgeons, research and patient care innovations.

"Dr. Ellison was a tremendous individual and I felt honored to work with him," says Chris. "I hope our gift will help make an impact on the financial stability of the Department of Surgery and continue to foster excellence in research and academics for many years into the future."

Charitable Gift Annuities

A gift annuity is an agreement between a donor and The Ohio State University Foundation. In exchange for a gift of cash or appreciated securities, the Foundation pays designated annuitants a fixed payment for life. After the lifetime of the last annuitant, the remaining funds become available for use by Ohio State as designated by the donor.

"Charitable gift annuities are a sensible vehicle for any retirement plan," says Chris. "They provide a way to meet monthly living expenses while diversifying the risk of investment management."

If you would like to honor someone from the Ohio State community, please contact the Office of Estate and Gift Planning at 800-327-7907 or giftplan@osu.edu for more information.

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 1480 West Lane Avenue Columbus, OH 43221, 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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

First name is required
Last Name is required
Please include an '@' in the email address

eBrochure Request Form

Please provide the following information to view the brochure.

First name is required
Last Name is required
Please include an '@' in the email address