With the completion of the Schematic Design Phase this past month, plans for the new Linus Pauling Science Center at OSU made one giant step forward. Next will be the Design Development Phase, which will lead to the drafting of the construction documents and the beginning of the competitive bidding process for contractors by early spring. Groundbreaking is planned for June of 2009, and construction should take just under two years.
Half of the $62 million needed to build this 102,000 square foot facility will come from the state of Oregon, and the other half has been donated, including a $20 million grant from the Wayne and Gladys Valley Foundation and a $10.65 million gift from Al and Pat Reser, two OSU alumni. For us here at the Institute, the Linus Pauling Science Center is more than just a new building it is the key to achieving a new level of creativity and innovation. Dr. Pauling believed deeply in the value of scientific collaboration and academic collegiality. When this incredible new facility is completed in 2011, we will finally realize his vision by bringing our scientists together under one roof.
Major decisions regarding space allocation were made during the Schematic Design Phase. We now have a much better idea of the layout within the Linus Pauling Science Center and how functional space will be organized. This part of the design process allowed us to identify unique opportunities that, if included now, will significantly enhance the long-range, positive impact the building will have on our research.
Because of the way the funding package for the Linus Pauling Science Center was developed, the additional costs for these unique opportunities cannot be included within the $62 million project cost. Yet these enhancements are so critical to our future research that we have launched a building enhancement campaign to raise $1.5 million in gifts from our friends and donors to ensure they are included in the building.
Funds from the Linus Pauling Science Center Enhancement Campaign will be used to buy new high-tech research equipment for the three core laboratories in the new building, to purchase mobile lab benches that provide maximal flexibility in configuring labs and enhance collaborative research, and to build state-of-the-art animal facilities that provide the best care for the animals and comply with the highest standards of the Association for Assessment and Accreditation of Laboratory Animal Care. All three major research areas within the Institutethe Cancer Chemoprotection Program, Cardiovascular and Metabolic Diseases, and the Healthy Aging Programwill benefit significantly from these additions.
All gifts of $10,000 or more will be recognized on a Donor Wall that will be located on the main floor of the building. For gifts of $25,000 and up, opportunities to name rooms within the Linus Pauling Science Center are available. There are a wide variety and range of naming opportunities, including offices ($25,000 to $50,000), meeting rooms ($100,000 to $500,000), research labs ($250,000), or an entire floor ($1,000,000)!
You can participate in this special campaign in a number of different waysan outright gift of cash or a pledge that is payable over several years, gifts of stocks or real estate, or even a disbursement from your IRA. On October 3rd, Congress and the President approved legislation that includes retroactive extension of the popular IRA Charitable Rollover of 2006. This means that in 2008 and 2009 donors who are 70 1/2 or older can transfer up to $100,000 per year per person from their IRA directly to a charity without paying income tax on the money.
Gifts can only be made from an IRA. Pension, 401k, profit sharing, and other forms of retirement funds do not fall under this legislation. However, donors can roll non-qualifying accounts (for example, 401k) into the qualifying IRA account in order to make a gift. You can give to multiple charities in any combination that does not exceed the $100,000 per year per person limit, and you can use your donation to fulfill your yearly required minimum distribution in part or in full.
Gifts can only be made directly to public charities to be eligible for tax benefits. A gift cannot be made to a charitable remainder trust or charitable gift annuity. Of course, you can use your IRA gift to name a room in the new Linus Pauling Science Center.
We would be happy to help you make an IRA charitable rollover gift by providing you with a letter of instruction for you to fill out and send to your IRA custodian. If you would like more information on how you can help ensure the future of the Linus Pauling Institute through an IRA gift; a gift of real estate, stocks or mutual funds; and perhaps name a room in the Linus Pauling Science Center, please contact me toll free at (866) 218-8930, or on my direct line (541) 231-6751.
With your help, the Linus Pauling Science Center will realize the dreams and vision of our faculty and provide a working memorial to our founder, Linus Pauling.
|LPI is grateful for the bequests we have received from the following friends this past year:|
|Wayne Haag||Fred Kister|
|Arnold Molzon||Sodya-Sonia Renic|
Last updated January 2009