“I understand and support what Lafayette’s trying to do,” says Ron Garfunkel ’63.
An endowed scholarship fund that Garfunkel established has been helping students to afford a Lafayette education since 2001.
Recently, excited about the College’s new strategic direction – which includes strengthening financial aid resources with the goal of being able to admit the most qualified students regardless of their ability to pay – Garfunkel decided to put Lafayette in his will so that his fund will grow to $1 million after his passing.
“It’s all about building a legacy and helping people,” he says.
Garfunkel and many other alumni, parents, and friends are partnering with the Office of Gift Planning to help ensure Lafayette’s future strength while taking advantage of financial vehicles that will enhance their estate plans, including bequests, charitable gift annuities, charitable remainder unitrusts, and life insurance policies.
Thanks to them, bequest expectancies and planned gifts are having an enormous impact on the Live Connected, Lead Change campaign. More than $299 million has been raised toward the $400 million goal of the historic campaign, and of that total, more than $95 million has come from bequest expectancies and planned gifts.
“Lafayette wouldn’t be the outstanding college that it is today without planned giving,” says Joe Samaritano ’91, director of gift planning. “We’re grateful for the alumni and friends who leave a legacy of support through their wills or life income gifts.”
The College recognizes donors whose planned giving helps ensure the future of the College with membership in the James Madison Porter Society. Established in 1997, the Porter Society honors more than 500 alumni, parents, and friends who have included Lafayette in their estate plans.
Donors like Larry Murphy ’58, P’92 have not waited for retirement to put Lafayette in their will. Nearly 20 years ago, he decided he’d use his will to support annual giving.
“I got a lot out of Lafayette,” he says. “It seemed like the natural thing to do.”
He and his wife recently began a five-year commitment to fund the C. Lawrence ’58 and Carol S. Murphy P’92 Internship Endowment, which will enable students to take an unpaid or low-paying summer position related to their career interests. They solidified the endowment by adding a stipulation in their will to continue funding it if Larry dies before the pledge is fulfilled.
Dick Linthicum ’66 established the Thomas Hopkins Linthicum Scholarship Fund in 1999. He recently decided to boost the fund through his will, a move that he says could triple the size of the scholarship.
“Lafayette continues to get better, and scholarships help capable prospects get a great education,” he says. “Putting Lafayette in one’s will shows dedication to a great institution that constantly tries to get better. The College will continue to grow and prosper, and we grads can feel good that it lives on with our generosity.”
To learn more about gift-planning vehicles that increase the impact of a donor’s giving, provide tax savings, and preserve wealth, visit http://lafayette.giftlegacy.com or contact Joe Samaritano ’91 at email@example.com or 610-330-5047.