Answer Special Call to Serve - King's College
Answer Special Call to Serve - King's College
Answer Special Call to Serve - King's College
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Donor Profile Richard A. Alley, M.D.<br />
Dr. Alley has always unders<strong>to</strong>od the importance of<br />
education. His parents, who emigrated <strong>to</strong> the United<br />
States from Lebanon, stressed academics and the<br />
importance of giving back. Now semi-retired, Dr.<br />
Alley has had a distinguished medical career spanning<br />
almost 50 years and a long record of public service and<br />
charitable efforts. He has also participated in numerous<br />
medical missions <strong>to</strong> third world countries.<br />
He became a member of the King’s <strong>College</strong> Board of<br />
Direc<strong>to</strong>rs in 2006 and was quickly impressed by the<br />
<strong>College</strong> and its senior staff. “Being a board member<br />
convinced me that King’s was deserving of my time and<br />
financial resources.”<br />
Dr. Alley recently <strong>to</strong>ok advantage of a “tax-free” giving<br />
option. “My accountant, pension plan advisors and the<br />
staff at King’s all informed me of this opportunity. Given<br />
the economic downturn of the last year, I thought this<br />
was a good way <strong>to</strong> make my gift <strong>to</strong> King’s <strong>College</strong>.<br />
Unless Congress extends the legislation past December 31, 2009, a window will close on a once in a lifetime<br />
charitable opportunity for philanthropists aged 70½ or older. This is the last year transfers from traditional or<br />
Roth Individual Retirement Accounts can be made <strong>to</strong> charities without paying income taxes on the distribution.<br />
Funds transferred directly <strong>to</strong> King’s <strong>College</strong> from IRAs do not qualify for an income tax deduction, but they do<br />
transfer without incurring any income tax liability, essentially the same net result as a 100% tax deduction.<br />
This is an excellent time <strong>to</strong> create a named scholarship endowment or other type of legacy at King’s <strong>College</strong>.<br />
For information contact Frank H. Oliver Vice President for Institutional Advancement at (570) 208-5882 or<br />
e-mail: frankoliver@kings.edu