Partners in Life, Partners in Giving

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Joan Ferry, Ph.D., and George Ferry, M.D.

Joan Ferry, Ph.D., and George Ferry, M.D.

By Kathy W. Isdale

Partners in life since 1959, George Ferry, M.D., and Joan Ferry, Ph.D., are also partners in their philanthropic giving decisions, and they have been devoted supporters of both Texas Children's Hospital and Baylor College of Medicine (BCM) for more than 35 years.

The Doctors Ferry met as students at Stanford University and married just before George entered medical school at BCM, where he also completed his pediatric internship and residency. After a gastroenterology fellowship at Johns Hopkins Hospital, George returned to Houston as Texas Children's first trained pediatric gastroenterologist. Now director of Texas Children's Inflammatory Bowel Disease (IBD) Center and chief of the IBD clinic, he has helped lead the hospital to renown as one of the world's top institutions for care and research in children's gastroenterology and nutrition.

After the Ferrys' three daughters were grown, Joan earned a doctorate in history from Rice University, focusing on early medieval Italy. With George at the wheel, the two have driven all over southern Italy and Sicily in pursuit of Joan's research.

Both are passionate about Texas Children's and BCM. "The hospital has helped so many children, but more than that, it has helped their families," Joan says. "It has always given me real joy to hear George talk about his patients."

"My medical education at Baylor was just fantastic," George adds. "And almost all my work has been at Texas Children's. I can't imagine any other place where I could have done what I've had the opportunities to do here. Now, I preach to our fellows: we are given a huge privilege to be physicians and we've got to give back-it's an important tradition in medicine."

The couple also support their church, the North American Society for Pediatric Gastroenterology, Hepatology and Nutrition Foundation and the Crohn's and Colitis Foundation, which George helped establish in Houston in the 1970s.

Reflecting on how much a part of their lives the hospital and their colleagues have been over the years, Joan puts it simply: "Texas Children's is just very dear to our hearts."

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

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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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