Planned Giving
Meet Our Donors
A Trust to Enrich Episcopal and Me
Donald van Roden '42
Back in 1985, when this venerable school was celebrating its 200th anniversary, I chaired Episcopal's Century III campaign. The goal of the campaign was to build the school's endowment, then in its infancy, in order to better compensate an excellent faculty and increase financial aid.
A CRAT (Charitable Remainder Annuity Trust) fit nicely into my plans at the time. To create the trust I used greatly appreciated stock of SmithKline Beckman Corporation, where I spent my career. I avoided the capital gains tax, as did the trustee, The Episcopal Academy, when it sold the stock and reinvested the full proceeds in a balanced portfolio that pays me a guaranteed income for life. I was able to select the annuity percentage I receive each year and chose 6%, which was three times greater than the SmithKline stock dividend at the time. To date, the annuity payments total much more than my original gift. At the end of my lifetime, the remaining balance will be added to the school's endowment. Fortunately, I have lived long enough to see the trust double in value.