Bequests are extremely important to the future of medical research at Garvan.
They are typically directed to our endowment fund, which means the gift will provide income in perpetuity. This enables us to plan with some security as well as fund new research projects with greater flexibility where there is the best chance of making a real healthcare breakthrough.
We are also extremely careful to respect the wishes of the bequestor and the terms of the Will – if the Will specifies an area of research to support, this will be upheld. If you have any questions about the scope of our work, and whether it matches the terms of the Will, please contact our Bequest Manager.
Administration of the estate and distributions
Bequest notifications should be mailed to Donna Mason, Bequest Manager, Garvan Research Foundation, 384 Victoria Street, Darlinghurst 2010 or can be emailed directly to firstname.lastname@example.org
Bequest funds distributed by cheque should be made out to the Garvan Research Foundation or can be transferred by direct deposit. Please call us on 02 9295 8559 to request our bank account details.
Garvan’s charitable status
The following legal points, which may significantly enhance your client’s bequest.
Deductible Gift Recipient Status
The Garvan Institute of Medical Research (ABN 62 330 391 937) holds Deductible Gift Recipient (DGR) Status Item 1 and is fully Tax Exempt. As the Fundraising and Marketing division of the Garvan Institute, the Garvan Research Foundation (ABN 91 042 722 738) also holds Deductible Gift Recipient (DGR) Status Item 2 and is fully Tax Exempt.
Capital Gains Tax on estate assets and transfer of shares ‘in specie’
As Garvan Institute of Medical Research is fully Tax Exempt, the transfer of all Capital Gains Tax assets such as real estate or shares to Garvan will result in significantly reduced tax liability, rather than pre-selling those assets by executors and transferring the sale proceeds.
Superannuation is not automatically directed through a person’s Will. If you wish to assign your superannuation to the Garvan, the super balance will need to be left to your estate, in which case it will be dealt with as determined in the Will.
Contact Donna Mason, Bequest Manager at Garvan if you would like information about leaving a gift in your Will to Garvan and becoming a Partner for the Future. Your enquiry and details will be treated in the strictest confidence and without any obligation.