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| Winter 2003 Issue |
A SMART CHOICE Many people don't know that a gift can
both pay them income and provide support for the WVU Libraries. This works
especially well when appreciated assets-stocks, mutual funds, bonds and
even real estate-are donated. Clyde and Mary-Jane English of Morgantown
used this special gift method recently as a way to endow funds for a group
study room in the new Downtown Campus Library. Clyde served on the College of Creative
Arts' music faculty for 35 years and Mary-Jane's professional career included
almost 20 years as assistant dean of students at WVU. Herself a '36 graduate,
she was inducted into the Student Affairs' Hall of Fame in 2001. "We thought this would be helpful
for students," said Clyde, now retired and an emeritus professor,
"and we've received income and tax benefits from it." The gift arrangement provides lifetime
income for both of them and funds for the maintenance of the study room
later on. Creating an income-producing gift yields a current tax deduction
and avoids the capital gain taxes if appreciated assets are donated. At the entrance to the English Group Study
Room, the bronze plaque commemorating their support also symbolizes the
concept that a gift that pays income is truly a smart way to help WVU
Libraries. | |
| Ex Libris is published quarterly
by the WVU Libraries | |
