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Dedicated volunteers make legacy gift after decades of involvement

Ginny and Marc Packin

Ginny and Marc Packin

After Ginny and Marc Packin moved to Western Massachusetts from New Jersey in 1990, they quickly became involved in the area’s active fundraising community for Dana-Farber and the Jimmy Fund, led by Barbara and Jim Sadowsky, Dana-Farber Trustees and co-chairs of the Dana-Farber Society (DFS). Jim and Marc were college roommates, and the Sadowskys introduced the Packins to many fellow Dana-Farber and Jimmy Fund supporters.

“The people we met were just fantastic and hardworking, and they have kept us involved,” Marc said.

At the time, Ginny and Marc’s family had not been touched by cancer, but they were eager to help with events like Chefs for Jimmy and the Jimmy Fund Golf Tournament/Jeffrey Vinick Memorial. A trip to Dana-Farber’s Jimmy Fund Clinic greatly affected the Packins and deepened their commitment.

“We realized we could be a part of helping these children on their journey,” Ginny said.

In addition to their decades of volunteer work, the Packins will leave a legacy of helping others affected by cancer through a gift to Dana-Farber and the Jimmy Fund in their will. With this recent addition to their estate plans, the Packins join many of their fellow volunteers as members in the DFS, a group of dedicated individuals who have made a planned gift to Dana-Farber and the Jimmy Fund.

“We didn’t find it difficult to balance taking care of Dana-Farber and the Jimmy Fund, as well as our family, in our estate plans,” Marc said. “We know our gift will have a positive impact in the future, and it will be handled well,” Ginny added.

Over the course of Ginny and Marc’s involvement, family members in other states have been diagnosed with cancer, and the Packins feel their support of Dana-Farber and the Jimmy Fund makes a difference beyond New England and will continue to do so for years to come.

“The research that’s going on at Dana-Farber doesn’t stay local—it’s shared with the cancer-fighting community globally,” Ginny said. “That means a lot to us.”

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A charitable bequest is one or two sentences in your will or living trust that leave to Dana-Farber Cancer Institute 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

Bequest Language

"I bequeath to Dana-Farber Cancer Institute, Inc., Boston, Massachusetts [ _____ dollars or _____ percent of my total or residual estate."]

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 Dana-Farber and the Jimmy Fund or other charities. You cannot direct the gifts.

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 gift 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 receive an immediate federal income tax charitable deduction. 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 Dana-Farber and the Jimmy Fund as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 Dana-Farber and the Jimmy Fund 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 Dana-Farber and the Jimmy Fund where you agree to make a gift to Dana-Farber and the Jimmy Fund 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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