Leading by Example
It was shortly after her arrival on campus that Joan DeBruin made a gift to create the first of several deferred charitable gift annuities. As the director of Gift Planning from 1993 to 2006, Joan wanted to make a statement about her commitment to NC State. With their contributions, Joan and her late husband, Jared, were able to provide future support for their areas of interest at NC State, secure a stable source of income for their retirement, and obtain an income tax deduction in the year they established each annuity.
"As the head of a new program at NC State looking to secure deferred gifts to benefit the university in the future, I felt it was important to support the program myself. It is a lot easier to talk with alumni and friends about making any kind of a deferred gift if you have made one yourself. NC State is a great university doing wonderful work, and Jared and I wanted to support our areas of greatest interest: financial-need based scholarships, ARTS NC State, and the gift planning program," Jon said.
Joan and Jared established a total of eight deferred gift annuities that provide fixed quarterly payments. They funded the annuities with appreciated securities, so they were able to bypass the capital gains. At the conclusion of the annuities, the majority of the remaining funds will support the James L. and Louise T. Dickinson Scholarship Endowment to provide financial-need based scholarships in honor of Joan's parents.
"My parents were unable to attend college because of the Depression, but they made it possible for both my sister and me to do so. My father actually quit school after 11th grade so he could go to work and help his family. A financial-need based scholarship would have made a huge difference in their lives if it had been available. Setting up a memorial scholarship based on financial-need honors my parents by giving a helping hand to exceptional students who otherwise might not be able to pursue a degree," Joan said.
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