Charitable Remainder Trust is a unique giving opportunity
Joanne and Irwin “Jake” Jacobs were grateful for Dana-Farber Cancer Institute when Jake underwent treatment for non-Hodgkin’s lymphoma in 1987.
“We received a tremendous amount of care and it was so encouraging to us,” Joanne says. “Jake’s Dana-Farber team answered every question we had.”
After Jake’s successful treatment, the Jacobs enjoyed traveling, time with family, and Jake even learned to play the banjo. They knew they wanted to give back to Dana-Farber and the Jimmy Fund, yet taking care of their own needs during retirement was also a priority. Establishing a Charitable Remainder Trust (CRT) to benefit Dana-Farber was the perfect way to accomplish both. A CRT would provide the Jacobs with income for life and ultimately support the mission of Dana-Farber.
“Our CRT was the right thing to do,” says Joanne. “It’s a great long-term investment for Dana-Farber and for our family.”
The Jacobs created the CRT with a monetary gift and designated Dana-Farber as a remainder beneficiary—ensuring the Institute receives support after the Jacobs’ lifetimes. Besides generating regular annual income for the Jacobs, the CRT gift also allowed them to receive an income tax deduction.
Jake battled prostate and esophageal cancer before he passed away in 2008, and Joanne was treated for breast cancer in 2008. These challenging experiences further deepened the Jacobs’ respect for Dana-Farber, and reaffirmed their decision to make a planned gift.
“We met so many amazing people through the Dana-Farber community,” adds Joanne. “It was very important to us to give back through our CRT.”