Gifts made possible by the trusts and estates of friends and alumni provided $104 million during the Anniversary Campaign for Princeton and touched every area of campus life.
Gift Planning Stories
Albert P. Delacorte '35 was a remarkable and thoughtful philanthropist whose deep love of learning and compassion for the underprivileged fueled his determination to open up educational opportunity to minorities.
Bernice F. Holmes K51 of Hendersonville, North Carolina, was the sister of Theodore H. Holmes ’51, a biology major who became a poet. When her brother died in 1971 at the age of 42, Bernice established a charitable remainder trust at Princeton and a bequest to the University in his memory.
Though Walker McKinney ’50 majored in economics, he loved the life sciences and made several outright gifts to Princeton in these areas. Like Holmes, he also established a charitable remainder trust.
When Charles H. Smyth came to Princeton to teach geology in 1905, he brought his two sons with him: Charlie and Harry. Both boys grew up to attend Princeton and follow in their father’s footsteps as Princeton faculty members and both are now commemorated with endowed chairs: the Charles Phelps Smyth ’16 *17 Professorship in Chemistry and the Henry De Wolf Smyth Professorship.
L. Desaix Anderson Jr. ’58 has been able to transform real estate—in this case, three condominiums in Washington, D.C.—into a gift that is particularly meaningful to him. “I welcome the opportunity to thank Princeton for an extraordinary, life-long engagement with ideas and history,” he says.
Gordon Douglas gave Princeton a house in Connecticut, near where he lives with his wife, Sheila Mahoney. “When I did the math,” he said, “this came out well for me. It ensured income for us, as well as allowing us to make a substantial gift to Princeton—a classic win-win situation.”
Some years ago Ray Close purchased a plot of unimproved farmland. Later a major highway interchange was planned nearby. Because of the resulting capital gain it made excellent tax sense to donate the property to Princeton and create a trust, “something I had always wanted to do,” Close said.
Think about a bequest of $100,000 made in 1925 that created a scholarship fund. Even if you assume that the money has been effectively invested and generously awarded, you still might not be able to appreciate the enormous value this one gift has had over eight decades.