Remembering Mark

Family Uses Qualified Charitable Distribution to Fund Brain Tumor Research

Mark"Some children are just genuinely funny, and Mark was one of those," says Mary Alice Watson, as she described her late son's outgoing personality. "His teacher used to get upset with him for cracking jokes but finally just decided to give him 10 minutes at the beginning of class for his 'Johnny Carson moment' and start their day off with a laugh."

The happy 6-year-old continued to make others smile, even after he began experiencing frequent stomachaches and other health problems. When doctors were unable to pinpoint the source of his illness, a CAT scan revealed a mass in Mark's brain. "It was a malignant rhabdoid tumor," says Bob Watson, Mark's father. "At the time, there were only 16 cases in the world, and it was 100% fatal."

The extremely rare tumor, which occurs mainly in children, was highly aggressive, but the Watsons remained hopeful as their young son underwent four brain surgeries and chemotherapy over the next three years.

"After the first surgery in 1994, things looked promising when tests showed that the tumor was pretty much gone," explains Bob. "Later on, it came back."

Sadly, Mark passed away on July 30, 1997, a few days after his 10th birthday.

Grateful for the care Mark received at Texas Children's Hospital, his parents, family and friends are keeping his memory alive in a very special way. Their efforts began soon after Mark's death when Mary Alice returned to her teaching job at Klein Forest High School. She placed collection jars out for each of her five classes to raise money for Texas Children's, asked her students to "give from their heart" and offered to match whatever amount they raised. They raised $1,500 in just three weeks, enabling a gift of $3,000 in Mark's memory. The students then formed "Mark's Friends," and as a group, volunteered and fundraised for Texas Children's until they graduated.

Mary Alice and Bob Watson

Mary Alice and Bob Watson

It has been more than two decades since the Watsons lost their beloved Mark. Over the years, they've stayed in touch with Mark's physician, Dr. Susan Blaney, and were excited when she was named director of Texas Children's Cancer and Hematology Centers. They recently toured the Centers' new facilities with Dr. Blaney and learned about the research she and her colleagues are conducting. They immediately wanted to do more to help.

The Watsons began collaborating with staff from Texas Children's Office of Philanthropy to explore options for supporting Dr. Blaney's work long term. They discovered that if they contributed at least $25,000, they could establish an endowment—a permanent fund that would grow and provide support for Texas Children's in perpetuity.

In this way, the Watsons could honor their son's memory while providing a reliable stream of annual support far into the future. In late 2019, they chose to establish the Mark Terán Watson Endowed Fund at Texas Children's, for the purpose of providing financial support for pediatric brain tumor research, using some of their retirement savings through a qualified charitable distribution (QCD).

"We love Texas Children's and know that Mark received the absolute best care that he could have gotten anywhere," Mary Alice says. "I know that he would be thrilled to be remembered in this way."

Contact Rachel S. Kronenberger at 832-824-6907 or rskronen@texaschildrens.org to learn how a gift in your estate plan can make an impact felt for generations at Texas Children's.

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A charitable bequest is one or two sentences in your will or living trust that leave to Texas Children's Hospital a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Texas Children's Hospital, a nonprofit corporation currently located at Houston, TX, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Texas Children's Hospital or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Texas Children's Hospital as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Texas Children's Hospital as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Texas Children's Hospital where you agree to make a gift to Texas Children's Hospital and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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