07/25/2014

CDA Foundation's Legacy Giving unique way to make donations


There are many ways to make a difference in the lives of others and the CDA Foundation’s Legacy Giving Program is one.

Through the Legacy Giving Program, dentists can incorporate a charitable donation to the Foundation in their will through estate planning.

Donations through legacy giving allow dentists to give back to their life passion, said Darren Penny, a consultant for a legacy giving company in California.

“These are men and women who have dedicated their lives to helping others and legacy giving provides a way to give to their life’s passion at the end of their lives and leave a lasting legacy,” Penny said.

Dentists who agree to be a part of the CDA Foundation’s Legacy Giving Program are recognized by the organization. A donation of $100,000 or more in a dentist’s will is considered a “legacy gift.” Those who provide a legacy gift are recognized on “Donor Boards” that are featured at most of the CDA events, such as CDA Presents The Art and Science of Dentistry and CDA Cares. Names are also printed in the CDA Foundation’s Annual Report.

Russ Webb, DDS, and his wife Kathi are two individuals who have provided a legacy gift.

"These donations are to ensure that our passion for dentistry is going to survive into the future. It will strengthen what we can do in the future, and I think it will be needed,” Webb said. “The work the CDA Foundation is doing now is having a big impact. The media has been highlighting our CDA Cares events and that helps turn the public attitude toward dentistry to the positive. The work the CDA Foundation does is the face of dentistry in California.”

Don Rollofson, DMD, chair of the CDA Foundation, and his wife Janet also have provided a legacy gift, which was an option through their life insurance policies.

“No one really enjoys making plans in their will, but legacy giving provides a chance to make a positive choice for you and your heirs to enjoy, as well as bringing a sense of satisfaction and peace,” Rollofson said. “An additional benefit is that many times with planned estate giving, your heirs still receive as much in inheritance, but the tax savings allows you to be a benefactor to a charitable cause.”

A donation through the Legacy Giving Program also does not take money from a dentist’s discretionary income.

“There is really nothing coming out of your pocket at this point. It isn’t taking your current assets. When you are gone, it is simply restructuring how your assets are being used,” Webb said. “Most dentists have multiple charities they support — churches, schools — and there is a lot of demand for their current money. We also have new dentists who don’t have a lot of discretionary income. But setting up a legacy gift is no money out of your pocket now and it helps ensure our profession’s future.”

Penny said legacy giving makes it much easier to donate.

“People have more available in their estate, typically, than they have in the discretionary income and it is more available for things like charitable giving,” Penny said.

For more information on the CDA Foundation’s Legacy Giving Program, call 916.554.5393.





Topics