|Click here to read the story of Jorge Figueroa, who has established a planned gift for UNCW.|
Life Insurance Gift Sets Example for Employees, Alumni
Brian Cox was inspired by his father to give back to the community. He hopes his recent donation of a $500,000 life insurance policy to UNCW will encourage other alumni as well as his co-workers at Northwestern Mutual Life to do the same. “My dad encouraged making gifts to charity,” Cox explains. “Northwestern Mutual also influenced the decision with a matching gift. Financially it’s the right time for me, and I want to serve as a role model to employees, to be a good steward in the community.”
Cox, who graduated from UNCW in 2000 with a degree in history and worked for a year afterwards tutoring athletes in the Learning Center, felt that a life insurance gift offered many advantages. “Insurance allows me to leverage my support,” he says, “and also hedges against taxes on the estate I’ll leave to my kids. I believe in life insurance.”
The ongoing relationship between UNCW and his employer also served as inspiration. “I was impressed with our student internships,” Cox says. “Northwestern has a unique offering for UNCW students with eight to ten internships every semester. I started an internship for a UNCW student because I think it makes sense for me as an alumnus and for Northwestern in terms of business relations and employee interest.”
Cox encourages current students to take advantage of internships. “It’s great experience,” he says, “even if it’s not in your major or study area of interest.”
He advises others interested in making gifts to UNCW to give from the heart and the head by closely studying your financial situation to determine how much you are able to give. Work with the UNCW Gift Planning Department to maximize your contribution. Lastly, if you wait until you can invest, you probably never will.
“Do it now!” he says. “It will shape your life.” And the lives of those you help.
Young Alumnus Gives Back with Life Insurance Pledge
Daniel Owen ’03 has always been grateful to UNCW. Thanks to his work in the insurance industry, the former history student knew exactly how to return thanks when the time came.
“My affiliation with Northwestern Mutual Life connects me with a network of specialists with years of experience,” Owen says. “These people teach me about the creative and innovative ways to use life insurance to achieve financial goals – this is just one way.”
Owen recently donated a $250,000 life insurance policy to the university.
“My decision to use life insurance was simple,” Owen admits. “I want to maximize my contributions, and a life insurance contract allows what I donate to be multiplied as much as 40 times my investment upon my death.”
Describing his gift as “partially leading by example,” Owen has done just that by making a planned gift to the university while still in his 20’s. “I decided to make my gift now because Northwestern Mutual Life has given me the opportunity to put myself in a position where I am financially able,” he says. “I had always planned to give back to the school once my income allowed, and thankfully now is the time.”
Owen has many fond memories from his days at UNCW – studying at Randall Library, living in Belk Hall, eating meals at Wagoner with friends he has kept to this day – and a long list of professors and mentors who helped shape his college career and his life.
Those recollections, and the example set by his parents, inspired Owen’s generosity.
“My interest in community support and involvement is something my parents taught me from a young age,” Owen says. “I believe it is everyone’s duty to do what they can to help those around them, no matter how big or how small of a contribution they can make.”
Donor Establishes Charitable Gift Annuity to
Support Fellowship Named for Late Husband
Jann Nance has established a charitable gift annuity at UNCW to benefit the Lewis E. Nance Chemistry Fellowship in memory of her late husband, who taught chemistry at the university from 1963 to 1996. The fellowship provides merit-based financial aid to chemistry graduate students.
“I can’t think of a better cause than to honor him,” Nance said. “It makes me feel very good to be able to do it. It makes me feel good to know I am helping someone else. There are also tax advantages with the gift annuity. It was a ‘win-win’ for UNCW and me.”
Charitable gift annuities can create significant financial benefits for donors. While providing a lifetime income for both spouses, there are numerous associated tax benefits. The donor may qualify for a significant tax deduction and be able to reduce the burden of capital gains taxes on appreciated assets. Any gains associated with the assets contributed may be spread out over the donor’s life expectancy. For advice about charitable gift annuities, please consult an attorney, tax professional or investment professional.
Jann Nance met her late husband in 1965 when she taught Spanish at Wilmington College, as the university was formerly known. The couple later married, had two children and lived in Wilmington for 30 years. Nance now resides in Asheville, N.C.
Dr. Nance secured a place in the pantheon of UNCW chemistry faculty with his passion for the field. He “really loved” working with UNCW students, Nance said. “He was a natural teacher; he came from a long line of teachers.”
The university’s Nuclear Magnetic Resonance Laboratory and an outstanding inorganic chemistry student award are named for Lewis Nance.