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John V. Rowan, Jr. Creates a Living Memorial in the Rowan Fund

Rowan smiling Texas Biomed is honored by the generosity of a bequest from Mr. John V. Rowan, Jr., who passed away on December 2, 2002. Mr. Rowan, who lived much of his early life in San Antonio, was the co-owner and principal of an interior design firm in New York City. John, the only son of John and Bertha Rowan, prominent San Antonians, remained tied to San Antonio through regular visits and business ties to the city. He was a member of numerous clubs including the Argyle, San Antonio Country Club, Club Giraud, as well as being a patron of Metropolitan Opera in New York and Southwest Arts and Crafts Center in San Antonio. He loved his ancestral country of Ireland, and spent time there as often as he could. He was a collector of Irish Silver, which now comprises the John V. Rowan, Jr. Silver Collection at the San Antonio Museum of Art.

Mr. Rowan, through a most generous bequest, has gifted his estate to Texas Biomed to create the Rowan Fund. This separate endowment fund will be used to enable biomedical research. Concerning the fund, Corbett Christie, Texas Biomed's Vice President said, "This gift will have the immediate effect, as do all our endowments, of our institution being able to reach beyond the norm of our day-to-day operations ... to achieve a higher level of excellence. We are here today because of the philanthropic vision of our founder, Tom Slick. Many others like Mr. Rowan share this vision and are the reason we exist. Simply put - without donations we probably wouldn't be here today. In my conversation with John Rowan, he said he simply wanted to make a difference. His gift, I assured him, would do that ... for every generation to come."


Creating an Endowment

If you would like to consider establishing an endowment fund, here are some points to ponder.a

  • An Endowment is a wonderful way to enable a favorite project. 
  • The donor receives a tax benefit.
  • An Endowment provides a lasting honor or memorial to the donor or a loved one.
  • An Endowment is a great way to assure that institutions, projects or causes continue into the future.

Here's How an Endowment Works

  • An endowment fund is simply the allocation of a gift to an investment fund. This fund is invested to earn income each year, which Texas Biomed uses to fund our agreed upon project. 
  • Historically, the principal of the endowment fund grows, and so does the income. That ever-growing income is used to support Texas Biomed.
  • The principal always remains invested in order to perpetuate the fund.

The Importance of Endowment at Texas Biomed

  • The financial strength of our unique scientific research institution is dependent on philanthropic support. 
  • Texas Biomed is devoted exclusively to basic biomedical research, which is largely supported by competitive grants and awards. 
  • As successful as we are, it is reality that research grants never cover the expenses of our operation. Philanthropy makes up that difference, and it's decisive in our success. 
  • Just as in any venture or business, research leads us into many innovative and future investment-type activities, such as new lines of research, facilities and technologies. It is donations and endowment income that generate the funding to venture and innovate in these fields.

If you are interested in more information about establishing and endowment at Texas Biomed, contact Corbett Christie, Vice President, at 258-9870.

A charitable bequest is one or two sentences in your will or living trust that leave to Texas Biomedical Research Institute 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, [name], of [city, state, ZIP], give, devise and bequeath to Texas Biomedical Research Institute [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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 Texas Biomed 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 Texas Biomed 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 Texas Biomed 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 Texas Biomed where you agree to make a gift to Texas Biomed 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.

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