Outlook

Gift blooms to keep on giving

Monday, April 3, 2006

From 1949 to 1979 Max Partch taught biology to SCSU students. More than 25 years have passed since this beloved professor retired, but he is still helping to educate students through the Partch Endowment Fund he and his wife Betty established in 1989 to support scholarships for deserving biology students.

The Partch Endowment Fund was created to benefit both the recipients of the scholarship it sustains and to provide a secure and comfortable retirement for the donors. With a donation of $28,000, Max and Betty established a charitable gift annuity, which minimized their capital gain, created a significant tax deduction and produced a lifetime annual annuity payment of $2,044. Max passed away in 2003, and Betty continues to receive the annual payments. She enjoys giving back $1,000 of her payment each year directly to the scholarship fund that she loves to see grow and help students succeed.

Max is no longer with us, but his legacy lives on in the many lives he and Betty continue to enhance with their generous gift.

A gift annuity is an excellent way to prepare for retirement while supporting SCSU. Below are payment rates for gift annuities at selected ages:

 
One-Life Gift Annuity Rates
Age
Rate
Age
Rate
45
5.0%
70
6.5%
50
5.3%
75
7.1%
55
5.5%
80
8.0%
60
5.7%
85
9.5%
65
6.0%
90+
11.3%

*Rates recommended by the American Council on Gift Annuities, effective February 2006.
Note: Two-life rates are less due to added life expectancy.

For more information on supporting SCSU through a gift annuity, charitable remainder trust or by making a bequest, please contact Eric Kautzman, associate vice president for development, at 866-464-8759, etkautzman@stcloudstate.edu

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