Princeton depends on annual and capital gifts that can be used immediately to support University priorities. However, some alumni, in addition to annual and/or capital gifts, prefer to make some of their charitable gifts in ways that provide their families with lifetime payments. The use of a charitable trust makes it possible for some donors to make larger gifts than they could have done otherwise.
Hugh M. Durden ’65
Well-schooled in the benefits of financial planning through his work as a commercial banker, Hugh M. Durden ’65 created a trust at Princeton in 1998. Twin values underpinned his gift: “the importance of Princeton to me—as well as to future generations—and the merits of true financial planning.”
The timing of the gift was also impeccable: “I wanted to exercise low-cost-basis stock options, I needed the deduction, and I wanted to provide income for a family member whose life circumstances were changing,” he says. “It was perfect for me at my time of life.”
Maynard “Barney” Williamson ’43
“I wanted to make a gift to Princeton,” says Maynard “Barney” Williamson ’43. “I had a deep sense of obligation to the University for the education and the financial assistance I received.” Williamson set up a trust during the last campaign to provide for his son, James. “The campaign definitely spurred me into action, but I had been thinking about these planned gift ideas for a long time.” He has since established a second trust for his wife.
Walter G. Culin ’52
Beyond providing income for loved ones, trusts can be a part of philanthropically driven retirement planning. Walter G. Culin ’52 made his gift as he was approaching retirement: “I did not have a large pension to fund my future; however, I had company stock—at practically zero-cost basis. It was an easy way to contribute to Princeton and still provide for my own retirement.”
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