Jesse H. Stone '51: Gift Annuities Achieved His Giving Goals

As a member of the Susquehanna University football squad and basketball team 1948-50, Jesse H. Stone '51 learned firsthand the value of athletics in helping to shape students into well-rounded individuals. His love of both Susquehanna University and athletics was what led him to establish the Jesse Stone '51 Endowment Fund for Athletics. "I received a great education at SU," Jesse said, "and I want to help ensure that others receive the same opportunity I had."

Jesse worked with development staff to establish several charitable gift annuities which achieved three important goals for Jesse: they guaranteed him a lifetime income backed by the full credit of Susquehanna University, they provided tax benefits, and enabled his endowment fund to generate yearly income for university programs. Because Jesse funded the annuities by transferring appreciated stock to Susquehanna University, he also realized the dual benefit of spreading the capital-gain tax on the appreciated value of the stock out over his lifetime and avoiding estate tax on the gifted securities.

During his retirement years, Jesse did not limit his philanthropy to financial gifts; he also gave of himself. He served as a senior mentor at Hillside Elementary School near his home in Cumberland, Pennsylvania. Twice a week Jesse read to a class of six-, seven-, and eight-year-olds and helps with other classroom activities. He thoroughly enjoyed working with the children, and they loved him too. What a great legacy he has left to SU and his community!