When Richard Yost was a kid, he and his brother Jay were inseparable and always stood up for each other.
“I remember when I was 11 and he was 9,” Richard says. “One day we walked down to my uncle’s house to see his new color TV. Walking back on the road some bigger kid knocked my brother over. Little as I was, I stood up for him. Jay sprung up next to me. I’ll never forget that feeling of the two Yost boys standing up to something bigger, together.”
As they grew up, Richard admired Jay’s continued determination to help people. And when Jay began putting his time and financial support into Dana-Farber Cancer Institute, both as a board member and a donor, Richard took note.
When Jay passed away in July 2021, Richard knew he wanted to pay tribute to Jay by making a gift that would reflect his brother’s dream of a cancer-free future. He decided to establish a deferred charitable gift annuity to support melanoma research. In doing so, Richard became a member of the Dana-Farber Society (DFS), a circle of donors who have created a legacy at Dana-Farber through a will, trust, life income arrangement, or other planned gift.
By creating a deferred charitable gift annuity, Richard will receive fixed annual payments starting at a future date of his choice. Donors can establish this type of life income gift arrangement with a gift of cash or stock. The fixed payments are based on the donor’s age and gift amount. Donors also receive a charitable tax deduction at the time the annuity is created. After the donor’s lifetime, the remainder passes to Dana-Farber.
“If you want to make a big gift but you’re not ready to just write a check or you need money to live on, this gift is great,” says Richard. “You get a tax deduction and down the road you get income coming back to you at a predetermined time. Jay was a tax professional, and I think he would approve of this strategy.”
Dee, Jay’s wife, knows how important Dana-Farber was to him. “Jay had melanoma and cancer touched many members of his and our family,” Dee says. “We supported cancer care and research with Jay, along with his son and daughter, running the Boston Marathon® for Dana-Farber three times. When Richard told me about his gift to Dana-Farber, I knew Jay would be so proud of him.”
Richard knows the value of investing in causes that matter. “Jay and I grew up in modest surroundings. There were three other siblings and there’s not a lot of extra money after five kids. But giving back has always been important. These types of gifts are something that live on even after we are gone. We need to make headway in treating all cancers and gifts like this will keep on giving and create a better future.”
Join Richard and add Dana-Farber to your own estate plans. The Planned Giving team will work closely with you to ensure that your vision of generosity becomes a reality. We provide a free, confidential, and personalized proposal of giving options, and will be happy to partner with you to create a plan that is right for you and supports our mission to defy cancer.
When you make a planned gift, you are part of The Dana-Farber Campaign, our ambitious, multi-year fundraising effort to prevent, treat, and defy cancer. The Dana-Farber Campaign will accelerate the Institute’s strategic priorities by supporting revolutionary science, extraordinary care, and exceptional expertise. As a community, we have the power to create a more hopeful, cancer-free future—in Boston and around the world. Together, we can defy cancer at every turn. Learn more about The Dana-Farber Campaign at DefyCancer.org.