Catawba College has received a $1.2-million gift from an anonymous donor.The gift, in the form of a charitable
remainder trust, will be used for furnishings and facilities within the college’s new
Center for the Environment.
A charitable remainder trust is an
arrangement in which the donor commits the assets to the trust, which in turn pays the
donor or his or her beneficiary an income for life. Catawba College can serve as the
trustee, or the donor can select a separate trustee. The donated assets can be cash,
securities or property, and such gifts provide the donor with tax benefits. After the
death of the last beneficiary, the trust assets revert to Catawba to be used according to
the donor’s wishes.
Construction began on the Center
for the Environment earlier this month. The “green” design and the
environmentally friendly materials for the structure promise to make it a model for the
region and the state.
Located on the edge of
Catawba’s 189-acre ecological preserve, the building reflects the mission of the
center: to involve the college and its students in programs and activities that foster
environmental stewardship.
“This building symbolizes the
essence of our program,” says Dr. John Wear Jr., director of the Center for the
Environment. “It is a laboratory in and of itself.”
Catawba President J. Fred Corriher
expressed gratitude for the gift. “This is truly a wonderful endorsement of Catawba
College and of our Center for the Environment,” he said. “We are delighted with
the donor’s incredible generosity and pleased with the message that it sends to our
students — that education and environmental stewardship are important.
“We want to honor the
anonymity of the donor,” he said, “but we want to publicly thank the person for
this magnificent gift to our capital campaign.” |
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