Insight Influences Charitable Choice
Few people understand the value of higher education and the issues today's universities face better than James McCormick '59.
Dr. McCormick's career has taken him from the classroom to serving as president of Bloomsburg University, then the first chancellor of Pennsylvania's State System of Higher Education, then chancellor of the Minnesota State University System.
Today, he continues to serve the field as a consultant for AGB Search, which helps to place new leaders in colleges and universities across the country.
"We've seen a reversal of funding. It used to be that states funded public universities with 70 percent of the budget, and 30 percent came from tuition income. These days, it's the other way around, with 30 percent from states and 70 percent from students," he says. "Even kids from middle-class families now need help in pulling together the funding. The statistics are clear. Student debt can delay a young graduate's life. Student debt can ruin a life."
Dr. McCormick, along with his wife, Maryan, has chosen to invest in IUP, the place where his long association with higher education began, through a charitable gift annuity. The gift annuity provides annual, fixed payments to the McCormicks during their lifetimes plus other benefits.
The Foundation for IUP will receive an unrestricted charitable gift after their lifetimes. The university will use their gift where it is needed most. That might be for scholarships for students, to help defray a study abroad experience, research expenses, or other programs that enhance students' success.
Investing in higher education, to the McCormicks, is incredibly important. From Dr. McCormick's vantage point, enrollment and finances are what most plague universities across the country. In particular, student debt is of greatest concern.
"I cannot see a better way to secure the future of the United States of America than to invest in our greatest resource, our students."
Invest in the Future
To learn how you can make a gift that benefits you and supports IUP students, contact Betsy Lauber at 724-357-3184 or email@example.com.
All gifts accepted in accordance with the Foundation for IUP's gift acceptance policy.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.