Many people affected by mental illness—those diagnosed, their friends and families—have a significant history of remembering the Brain & Behavior Research Foundation in their estate plans. These gifts have been responsible for funding cutting-edge research ranging from the work of Dr. Herbert Meltzer and the use of the antipsychotic drug, Clozapine, on treatment-resistant schizophrenia patients to the pioneering work of Dr. Helen Mayberg using Deep Brain Stimulation for treatment-resistant depression.
Because we can’t give up on the 1-in-5 people diagnosed with a mental illness. With federal funding drying up, the Brain & Behavior Research Foundation plays a critical role in the research field. Our role is to provide much needed seed grants, or proof of concept support for fresh, innovative ideas – that, in turn, open the doors to even greater funding so the ideas can become breakthroughs in the understanding and treatment of mental illness. Your Bequest will support the next generation of researchers who will be discovering and developing improved treatments, therapies and ultimately cures for these debilitating illnesses.
You can direct your attorney to name Brain & Behavior Research Foundation as the beneficiary of a percentage of your estate, of a set dollar amount, or of a particular asset (your home, jewelry artwork, etc.) Your estate is entitled to an estate tax deduction for the full value of your Bequest.
Another possibility is to name the Brain & Behavior Research Foundation as a contingent beneficiary of assets you have designated for a loved one, should that person no longer be alive at the time of your death.
Your attorney is in the best position to recommend which approach is best.
I give and bequeath, absolutely and forever, the sum of $________ (or, __% of the rest, residue and remainder of my estate) unto Brain & Behavior Research Foundation, 747 Third Avenue, 33rd Floor, New York, NY 10017, for its general purposes.
The Brain and Behavior Research Foundation’s Tax ID number is: 31-1020010.
When you make a Bequest or other Planned Gift to the Foundation you join a rich history of other supporters who care about the future of mental illness research.
Many estate assets are not transferred through a Will. These include assets in Living Trusts, qualified Retirement Plans, and the proceeds from Life Insurance policies. You may name the Brain & Behavior Research Foundation as a beneficiary of any of these assets or as a contingent beneficiary in the event that the loved one you named as primary beneficiary is no longer living at the time of your death.
IRA, Keogh, or Other Qualified Retirement Plans
Naming the Brain & Behavior Research Foundation as a beneficiary of assets remaining in your qualified Retirement Plans after your lifetime is considered particularly wise tax planning. This is because retirement plans left to individuals, other than a spouse, are taxed more heavily than most other assets. However, estate taxes and income taxes are avoided if the Brain & Behavior Research Foundation is named as the beneficiary.
Life Insurance Policies
Designating the Brain & Behavior Research Foundation as a Life Insurance beneficiary is a simple and effective way to fund our work while simultaneously gaining immediate tax benefits.
- Individual policies. You may irrevocably name Brain & Behavior Research Foundation as owner and beneficiary of a long-standing Life Insurance policy; or you may retain ownership and merely name the Brain & Behavior Research Foundation as the beneficiary. If you choose to name the Brain & Behavior Research Foundation as both owner and beneficiary – irrevocably -- you will receive an immediate income tax deduction for the lesser of your cost basis or the current value of the policy.
- Group term policies. If you are employed, you may be receiving group term life insurance as an employee benefit. If so, the Brain & Behavior Research Foundation can be named as a beneficiary of the entire policy or a percentage thereof.
Gifts that Provide Income
A Charitable Gift Annuity is an investment in both you and the Brain & Behavior Research Foundation that ensures the future of everything that’s important to you and your loved ones.
Here’s how it works:
A Charitable Gift Annuity is a simple contract between you and the Brain & Behavior Research Foundation established when you make an irrevocable gift of at least $10,000. In turn, the Brain & Behavior Research Foundation will make guaranteed income payments to you or a loved one for the rest of your life.
The income you receive from your Charitable Gift Annuity will depend on your age at the time you enter into the agreement and the number of designated beneficiaries to receive the payments.
Your gift is eligible for an income tax-deduction based on your age and the interest rate you receive. The higher this interest rate is, the higher your deduction will be.