Alumni Makes $100,000 Gift to Support Nursing Students
Posted: Sept. 11, 2009
Ruth and Leroy Lange are one of those couples you just want to sit, have a cup of tea, and chat with for hours. They take joy in many of the simple, traditional Texas hobbies like square dancing, horseback riding, hunting, and gardening. Their secret to a healthy, happy life and 55-year marriage is communication and humor.
They grew up in Bell County, Texas, and have known each other their whole lives through their church. Leroy came to The University of Texas at Austin to study business, but as he says, his real education came from the “school of hard knocks”. After learning “the formula”, buy low and sell high, Leroy headed out to become a successful real estate broker. Although Ruth already had her RN licensure and had attended Temple Junior College, when a baccalaureate degree in nursing was offered on UT Austin’s campus for the first time, Ruth decided to pursue a higher degree focusing on public health nursing.
Recently, Ruth and Leroy set up a Charitable Gift Annuity to benefit the School of Nursing. A gift annuity allows donors to make a gift that is then reinvested and provides donors with fixed payments for the rest of his or her life. Upon the death of the donor’s last beneficiary, funds from the annuity are available to be used for their designated purpose. In Ruth and Leroy’s case, this purpose is to create an endowed scholarship to support nursing students with the greatest financial need.
When asked why they decided to make this type of gift, Ruth and Leroy explained, “Gift annuities are a benefit to us. We feel honored to have had the chance to attend a public university, and we want to give back so that others may have the same opportunity. We hope that the scholarship our gift will one day create will help inspire future generations to pursue a degree in nursing.” This gift annuity will give Ruth and Leroy income payments for life, a charitable income tax deduction, and a possible reduction in their estate taxes, all while allowing them to support something so important to them.
To learn more about how you can make a gift to support the School of Nursing while also reaping financial benefits like Ruth and Leroy, please contact Andria Brannon, Director of Development, at (512) 471-5237 or the University of Texas Office of Gift Planning at 866-4UTEXAS or firstname.lastname@example.org. We are happy to work with you and your professional advisors to help you achieve your personal, financial, and philanthropic goals.