Timing is everything, the saying goes, and the right timing spurred professional money manager David R. Loevner ’76 to create a charitable lead trust (CLT).
Gift Planning Stories
In 1953 Hugh L. Adams set up a trust for his son, Hugh Trumbull Adams ’35, that included a bequest to his son’s alma mater. When Adams ’35 died in October 2009 and the bequest was realized, Princeton received a 40 percent income interest in a $40 million perpetual trust.
The late Frederick H. Schultz ’51 established a charitable trust more than 25 years ago. It was a reliable source of income for him, and when he died in 2009 the payments passed to his wife, Nancy R. Schultz.
When the Very Rev. Margaret P. Patterson P94 P98 P98 established a charitable remainder trust in 2000, she designated her gift for the creation of the Patterson Family Endowed Student Aid Fund, in honor of her children—Elizabeth Patterson ’94 (whose husband is classmate R. Adrian Clarke), Harriet A. Patterson ’98, and J. Dwight Patterson Jr. ’98.
The Eisenhart name may be familiar to those who approach campus by the Graduate College and pass through the Luther P. Eisenhart Gateway on Springdale Road. Read about a century of Princeton connections for the Eisenhart family.
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.
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.