Dr. Rıza Sarıoğlu is a Turkish pediatrician who practiced and lived a majority of his live in the U.S. and is a great example of someone who used TPF to guide them in their philanthropic efforts in Turkey.
Born in Turkey with seven brothers and sisters, Dr. Rıza Sarıoğlu studied at the only medical school in Turkey, at the time, University of Istanbul’s Faculty of Medicine. He moved to Philadelphia in 1951 and has since built himself a successful career in the industry and decades later, retired. When he retired, he began splitting his life between Istanbul and in his vacation home in Massachusetts.
His first act of philanthropy began with building a school in his hometown of Pazar, in the northeastern city of Rize. But his next gift to Turkey was proving a bit more complicated. Dr. Sarıoğlu first approached Sabanci University with a proposition to give his vacation home in Massachusetts to the University, to be sold and use its proceeds towards a scholarship fund. Logistically, both parties needed a middleman to mediate the transaction and iron out details.
Through brainstorming the most effective way to make the donation in order to leave Dr. Sarıoğlu feeling comfortable with his decision and still make a lasting impact with Sabanci University, we decided on a bargain sale. TPF bought Dr. Sarıoğlu’s property from him in 2010 and he received tax deductions for the appraised value of the estate. TPF recently sold the home and the funds will be transferred to Sabanci University.
Dr. Sarıoğlu now feels proud that his, once, vacation home is providing scholarships to students who might not have otherwise been able to attend university. TPF was happy to work with him through his planned giving efforts in order to make the most impact from his gift.