Legacy Gift to Bassett Cancer Program

As Chief and Medical Director of the Bassett Cancer Institute for the past several years, Dr. Alfred Tinger is in a unique position to directly influence the direction of cancer care within the network. His vision for the future of cancer services in the region includes expanding Bassett’s oncology program in Oneonta and investing in a new mobile cancer screening coach. Both investments would significantly improve access to cancer care and preventive screenings at a time when the region’s cancer burden is climbing.

Recently, Tinger and his wife Dawn made a legacy gift of $250,000 to jumpstart a capital campaign aimed at raising the funds necessary to make the Oneonta project a reality.

Q: What inspired you to make this contribution? 

We’ve come a long way in terms of treatment effectiveness since I began my life’s work as a physician. Cure rates are higher, people are living longer, and patients are suffering less. I entered medicine, and specifically oncology, with the goal of doing all I can to cure cancer and help patients. However, it takes a whole team. The gift Dawn and I made is meant to honor and thank the members of that team.

Q: What would you share with others considering a bequest to the Cancer Institute?

I would say that your gift, especially a legacy gift, is not merely a tax deduction, but more importantly it is an invaluable investment in the Bassett Cancer Institute so that future cancer patients can receive expert care in a comfortable environment close to their homes. The financial dividends from the investment are likely least important.

Q: Is it your hope that your gift will inspire others?

I do hope that our gift will inspire others to contribute. The fallout from the pandemic has been very tough for medicine in general. A high rate of burnout among health-care workers nationally has resulted in shortages across disciplines. Bassett’s cancer program has not been spared such challenges even as we have grown over the past few years. We need the financial resources to modernize, grow further, and thrive in the future having survived those significant unforeseen shocks.

Q: Anything else you feel is important to say regarding your legacy gift?

I wish to thank Bassett for the immense amount of medicine I learned as a transitional year intern here from 1992 through 1993. I credit Bassett for building me into a very competent physician, thus helping me succeed in a competitive metropolitan New York market for over 20 years. I will forget to thank many other inspirational attendings, residents and co-interns who helped in my formation. Nevertheless, I would like to specifically recognize Drs. Davis, Streck, Franck, Olson, Dewell, Ryan, Heneghan, Bordley, Weil, Kozak, Dwyer, Healy, Traynor, Fong, Hartman, Nagy, and Barthold for their dedication to instructing my generation of physicians and more.

Supporting Your Favorite Non-Profit Organization through a Charitable Remainder Unitrust (CRUT)

Dr. Alfred Tinger and his wife Dawn’s legacy gift took the form of a charitable remainder unitrust, also known as a CRUT. A CRUT is a separately invested and managed charitable trust that pays a percentage of the value of the trust to you or beneficiaries you name (up to a maximum of 20 years). The minimum for this type of gift is $100,000.

Almost any asset can be used to fund a unitrust, including cash, real estate, artwork, stock certificates, bonds, or other property. The donor establishes the terms of the trust, including the payout schedule for income distributions. After the unitrust terminates, the balance is given to your chosen charity to be used as you designate.

Key Points

• A unitrust is the most flexible life-income plan and a powerful vehicle for benefiting yourself, your heirs, and The Friends of Bassett.
• Receive income for life or a term of years in return for your gift.
• Receive an immediate income tax deduction for a portion of your contribution.
• No up-front capital gains tax is paid on appreciated assets you give.
• Additional gifts to the trust may be added after it is created, providing additional income and tax benefits.

Visit Friends of Bassett online at bassett.giftlegacy.com or call FOB, (607) 547-3928 to learn more about charitable remainder unitrusts as a possible tool for your retirement and estate planning.