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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

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