Giving to Support Your Profession — the Unmet Need

he breadth and scope of the Foundation for Anesthesia Education and Research (FAER) research program affects nearly every aspect of the practice of anesthesiology from pediatrics to geriatrics, from genomic research to PONV and most areas in between. In 2005, FAER received requests for funding support for 43 projects that would require a commitment of nearly $6.8 million. We were able to fund 10 of these requests for a total commitment of $2,035,000 over two years.

At FAER’s most recent deadline for grant applications, February 15, we received 22 applications including nine Mentored Research Training Grants, eight Research Starter Grants, three Research in Education Grants and two Research Fellowship Grants. If all of these applications scored highly enough to be funded, it would cost our Foundation $3,285,000 over the next two years to fully fund them. It is most likely, however, that available resources will limit us to funding 15-20 percent of them at the most.

FAER’s 2006 budget includes an expenditure of $2 million on grants, most of which will be directed to second-year funding from grants awarded in 2004 and 2005. The gap between the opportunity to fund new and fundable research and our ability to meet the financial commitment required by that funding is both vast and growing. We continue to seek new and innovative methods to raise monies to support anesthesia research as well as using established methods to secure funding.

FAER presently asks for support from many constituencies involved in anesthesia, including industry, individuals, private practices, ASA, component societies, subspecialty organizations and other public and private foundations. We are always open to suggestions for groups or other organizations to which we can make an appeal. Historically, FAER has relied heavily on the generosity and commitment of individual anesthesiologists who are inclined to give something extra back to advance their professional specialty. FAER’s Annual Report, semi-annual note to ASA members through the ASA winter and summer mailings and our other communication pieces are filled with individuals who have already participated in supporting the Foundation. We encourage you to make a difference in the efforts of the researchers working with FAER as well as yourself and the patients you serve on a daily basis. We would like to take this opportunity to remind ASA members of the various ways to support FAER and the other ASA Foundations.

Your help in closing the gap is vital. Methods of making a difference include:

• Direct gifts of cash: ASA members and others can provide an immediate credit card donation to FAER via our secure Web site at faer.org or by mailing a check to our offices at FAER, 200 First St., S.W., WF-674, Rochester, MN 55976.

• Donations of stocks, mutual funds and other income-producing assets: If you have owned a security or other asset for the required time, you may be able to take advantage of favorable income tax provisions by securing a charitable donation to FAER.

Testamentary bequests can take many forms including:

• Outright bequests: A gift of a particular amount of money or item of property.

• Residuary bequests: The residue of an estate is the amount remaining after all specific bequests have been distributed. The exact amount may not be known and the residue may pass as a percentage of the final estate; e.g., “I give one-third of my estate to the Foundation for Anesthesia Education and Research.”

• Contingent bequests: You can name a second beneficiary to receive property in the event the primary beneficiary declines or does not survive you.

• Family trusts: They provide a great opportunity to make creative use of your property either during your lifetime as a Living Trust or after your demise as a testamentary trust.

• Life insurance: Life insurance policy donations can be made by naming a charity as the primary or contingent beneficiary of the policy. Any life insurance policy can name FAER as a beneficiary; however, only certain types will allow for a current tax income deduction. Gifts of life insurance to a charity can help reduce any estate taxes payable.

ASA members should always seek tax advice before making any charitable gifts.

No matter how much you give to any charity or how much you give back to your profession through charitable contributions, the simple act of making a donation can be deeply gratifying. Your generosity will be greatly realized in multiple ways that will leave a lasting legacy in anesthesia research and education.

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