As far away as Schenectady, NY is from Issaquah, WA, it is not too far to benefit from the generosity of a Union College alumnus. As a long time contributor to Union College's Annual Fund and a benefactor of the new Yulman Theater, Donald Mackenzie `34 expanded his vision and the future benefits to Union College by creating the Donald H.G. Mackenzie Charitable Trust for the Schaffer Library renovations. Making the transaction particularly appealing was being able to fund the trust with appreciated securities. Because no capital gains taxes were due on the securities given to a Charitable Remainder Trust, Don's stock gift maximized his benefit while minimizing his tax consequences.
Therefore, the gift to Union was considerably larger than the net after selling the securities and paying taxes would have been. Furthermore, Mackenzie has a higher income from his Charitable Remainder Trust than he had previously from his stocks. If ,you're interested in making a gift of this type, please call Carol Widmer, CFP in the Gift Planning Office at 518-388-6156.