NO/AIDS Task Force has received one of the largest individual donations from the Estate of Jeanne and Alexander Kaiser in honor of their son, Dr. Michael Kaiser. The Kaisers left over $130,000 to NO/AIDS Task Force. With the blessing of Dr. Mike and his sisters, the funds will be used for the Capital Campaign for the new CrescentCare health center currently under construction at 1631 Elysian Fields.
According to Noel Twilbeck, CEO of CrescentCare, the donation is one of the largest personal donations in the agency’s 35-year history and the largest donation to the Capital Campaign to date.
“The generosity of Jeanne and Al and the legacy of Dr. Mike’s work will continue on in our new home,” Twilbeck said. “We are ever grateful of the legacy he built in New Orleans. This kind of giving will have an impact for generations of people who seek care at CrescentCare. These genuine gifts of the heart enable us to better serve the community.”
Dr. Mike spent nearly 15 years working in the HIV/AIDS arena in New Orleans.. He was one of the founders of NO/AIDS in 1983 and served as our Medical Director until 1998 when he left New Orleans for Washington, DC where he accepted a position in the Ryan White Bureau.
Dr. Kaiser, a pediatrician and the medical director of Children’s Hospital Emergency Room, was also concerned about children and infected teens. Along with a colleague at Children’s Hospital, Dr. Kaiser in 1988 authored a proposal to HRSA to develop the Pediatric AIDS Program, now known as FACES. Children’s Hospital had begun to see children infected from birth and through blood transfusions. At that time only 12 children under 14 in Louisiana were diagnosed. He also oversaw the funding and development of the Resources for Adolescents Program (RAP), recognizing the need to prevent the transmission of HIV to youth in the New Orleans area.
His parents wanted to honor the legacy of the work their son had accomplished in New Orleans and they were fond of the agency their son helped create. As a result, they set up the Alexander and Jeanne C. Kaiser Irrevocable Charitable Remainder Unitrust, the first ever bequeathed to the agency.
“My parents were volunteers and believed in social justice and were always philanthropic with their time and money. As children of the depression, they were cautious and knew how to save and plan. As part of their estate planning, they wanted to support NO/AIDS, something that makes me very proud,” Dr. Kaiser said.
According to EstatePlanning.com by placing an asset into a trust, the asset is removed from the estate, so no estate taxes will be due upon death. An immediate charitable tax deduction is given.for the value of the gift and no capital gains taxes are due. The trustee then sells the asset at full market value and re-invests the proceeds in income-producing assets. For the rest of your life, the trust pays you income. When you die, the remaining trust assets go the charity(ies) you have chosen.
“While the tax laws have changed since this trust was established in the 1990’s, this approach could still be an important strategy for some NO/AIDS supporters,” Dr. Kaiser added. “My Mom, who passed last year at age 95, wrote an annual letter to Noel, apologizing for living so long. She knew, that the longer she lived, the value of the donation was shrinking as she was living off the income being generated. My Dad, who passed in 1999, would have reminded her that the donation was working exactly as he had planned…. supporting her living expenses, saving taxes, and supporting NO/AIDS.”
If you would like to find how to support the Capital Campaign or leave a lasting legacy to CrescentCare, please visit www.crescentcare.org or call Director of Development, Rodney Thoulion at 504-821-2601, Ext.203.