A Charitable Gift Annuity is another option for scholarship donors
"Educating young children is a job that requires teachers who are talented, creative, dedicated, compassionate, and knowledgeable. If our gift is able to allow future teachers to get the education that will aid them in developing the skills required, not only will we be grateful, but above all else it will be their future students who will reap the benefits," says Lois Becker Wright '65/77. She and her husband, Howard Wright, Jr., have spent their lives ensuring that the next generation is prepared for future success. Lois taught at the elementary level in Baltimore for 10 years and middle school level in Havre de Grace for 20 years. Howard retired from teaching at the US Army Ordinance Center and School formerly at Aberdeen Proving Grounds. In their retirement, they are continuing to provide for future students by creating the Lois B. and Howard W. Wright Jr. Endowed Scholarship, a Charitable Gift Annuity (CGA) with Towson University.
A CGA is another option for donors when considering a scholarship gift to Towson. This option transfers cash or property to a charity in exchange for a partial tax deduction and a lifetime stream of annual income from that charity. At the death of the donors, Towson University will keep their gift to financially support future generations of elementary educators. Lois says, "I hope the recipients are able to concentrate on their education rather than how to pay for schooling. And I hope such opportunities are available to all students who need it."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.