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.”
Gift Planning Stories
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.