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Gift Honors Longtime Faculty Member and Provides Facelift to Dental School Library

Dr. James Felli

Dr. A. James and Gaile Felli

Dr. A. James Felli, a 1976 graduate of the School of Dental Medicine, recently committed $100,000 to provide a major facelift to the current library space within the Department of Orthodontics. Prior to making his most recent commitment, Dr. Felli had been a longtime supporter of the School of Dental Medicine. Back in 2011, he set up a charitable gift annuity that benefits the dental school and provides him with guaranteed fixed income for life.

Dr. Felli's gift is made in memory of longtime department member Dr. John Cunat, '52, who passed away in July of 2016. Dr. Cunat, a professor emeritus, retired from the UB School of Dental Medicine in 1995 after having served as chair of the Department of Orthodontics for over 30 years. The newly renovated space funded by Dr. Felli's philanthropic gift will be known as the Dr. John Cunat Library, and is among the first of numerous upgrades within the department.

Dr. Cunat

Dr. Felli’s gift honors longtime department member Dr. John Cunat ’52.

"We're so grateful to Dr. Felli for his generosity," says Neil Dengler, assistant dean and director of philanthropy for the School of Dental Medicine. "Gone are the days of New York State paying for everything. Now, more than ever, we need private support from individuals and corporations to keep up our facilities, build endowments and support students."

As Dr. Felli's generosity shows, a charitable gift annuity can be a great way to advance your charitable wishes while also providing you or a family member with guaranteed fixed income for life.

Create a Lasting Tribute at UB

To learn more about planning a gift in honor of someone who has had an impact on your life, please contact Ms. Wendy M. Irving at (716) 881-7484 or irving@buffalo.edu.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to the University at Buffalo 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, devise, and bequeath to the University at Buffalo Foundation, Inc., a nonprofit education corporation, headquartered in Buffalo, New York, the (sum of $_____) or (_____% of my estate) or (the property described herein) or (the remainder of my estate) to benefit the University at Buffalo."

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 the University at Buffalo 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 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 the University at Buffalo 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 the University at Buffalo 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 the University at Buffalo where you agree to make a gift to the University at Buffalo 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

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