Charitable Gift Annuity Makes Scholarship a Reality
Elaine Schermerhorn Dennis '57 takes great pride in her college education. "It has changed my life in many amazing ways," she says.
"At Beaver College, I learned from the very best faculty and felt appreciated as a student. I worked hard, made the Dean's List, and became an active student leader. With each achievement, I discovered I can make a difference in the world. I made many friends at Beaver, and we continue to stay close today."
Dennis reveals, "For me, this wonderful education would not have been possible without the generous scholarships I received. I've always wanted to set up a scholarship fund, but I wasn't in a position to make a large outright gift."
She discovered an easy way to make her dream of an endowed scholarship a reality with a charitable gift annuity. "In return for making a charitable gift, I receive annuity payments for life. While my goal is to help other women with scholarship support, my charitable gift annuity also provides me with many benefits. I increased my income. My stock paid less than 2 percent in dividends, while my charitable annuity pays me more than 6 percent. There are also tax savings, both in the year you make your gift, and a portion of your annuity income may be tax-free."
Dennis has her quarterly payments deposited directly into her checking account, saving a trip to the bank each quarter. "Direct deposit is ideal if you do a lot of traveling or have a second home," she says.
Donors can both "give and receive" with a charitable gift annuity. There's no cost or obligation. To learn more details and find out how the University makes it easy to give, contact Nick Costa, Vice President for Development and Alumni Relations, at 215-572-2781 or costan@arcadia.edu.
