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"Painless Giving"

By Michael B. Rogers

Michael B. RogersSince many of us are so busy that we only scan articles, I want to begin by stating the importance of giving as part of your estate plans (via your will) to the American Association of Orthodontists Foundation (AAOF) if our profession is to remain viable. The AAOF is one of our only means to fund research and support our faculties. When you support the AAOF through your estate plan, you will become a member of a select group that cares, the Keystone Society.

People give to charity for many reasons and all charitable organizations continually search for those triggering mechanism(s). Some reasons that you want to give may be among the following:

  • To support a cause that will improve the welfare of society
  • To support a cause that will impact your profession
  • To leave a legacy to an organization you care about
  • To gain special recognition
  • To support a cause about which you are passionate
  • To reduce or eliminate income and/or estate taxes
  • Because a charity requested support
  • Because someone asked you to give
  • Because you have benefited from a charity and would like to give back
  • Because you have had many benefits in life and would like to give back

In my case, I have given to the Foundation because someone explained its importance and then asked me to provide support. As was made clear to me, our schools were in dire need of research funds, and there was a shortage of teachers. I realized what the orthodontic profession had done for me and my family by allowing us to enjoy the lives that we all were fortunate to live. It only seemed right to "pay it forward" so that others could have the same opportunities.

Among the motivating factors that were listed above, "because someone asked you to give" seems to be one of the most common triggering mechanisms or motivators. We need to always take the time to explain the importance of charitable giving to others.

If our Foundation is to ever reach our goal of $100 million, we must include the AAOF in our estate plans. The tax advantages can be significant; and in my opinion, the gift will be understood and not missed by our heirs. If 6,000 orthodontists bequeathed $25,000 to the AAOF, that would total $150 million. An 8 percent annual return would produce $12 million each year that could make a significant difference in our profession. Just think about how this money could be used for research and to endow department chairs. Our faculty shortages would be somewhat elevated.