GIFTS NOW AND LATER

When two generations agree on an idea, it has to be a good one. Charlotte McPherson enthusiastically assisted her mother, Mary, to create a WVU scholarship for Wood County residents and then worked on her own estate plan, which will add to the scholarship fund in the future.

Bill and Mary McPherson were Parkersburg, West Virginia natives who married in 1941. During World War II, Bill was a draftsman at the Norfolk, Virginia naval shipyard. As a supervisor naval architect with the Department of the Navy's Bureau of Ships, he was responsible for the hull arrangement design of the Forrestal through the Nimitz Classes of aircraft carriers during his career.

Mary's homemaking skills were instrumental in guiding their two daughters, and her volunteer interests kept her involved with community, school and church activities over the years.

In 2005, Mary's generous gift of appreciated stocks to the WVU Foundation created the McPherson Family Scholarship. "I wanted to establish a permanent scholarship in memory of my husband, who was a very hard worker and self-made man," she says.

Thinking of ways to assure that the scholarship fund will grow over time, Charlotte decided to do two things. She included a gift provision in her will and made the WVU Foundation the after-death beneficiary of her retirement account.

"My parents gave my sister and me emotional and financial security and were wonderful role models," she says. "We want our support to help talented, ambitious young people who deserve assistance and recognition."

Bob Stitzel and his granddaughter

GIFTING RETIREMENT ASSETS

Dr. Robert Stitzel spent the majority of his academic career at West Virginia University. In the process of doing that, he gained an insider's view of how to help students and the University.

His service as a faculty member and interim chair of the Department of Pharmacology in the School of Medicine and his later experiences as the director of the WVU Office of Graduate Education motivated him to find the best way to create doctoral student support funds for students in four colleges. He decided to make the WVU Foundation a beneficiary of a portion of his retirement funds and provided additional instructions to the Foundation about creating permanent funds. Changing the account's beneficiary did not affect Bob's own use of his retirement funds.

Remembering those times and her husband's thoughts, Dr. Judith Stitzel says, “Bob knew that at WVU a little extra goes a long way and can give students the edge they need in their professional growth.”

Judith, also a retired WVU professor, says, "Bob was happy that he could make something happen that he felt was important for the future."

Bev and Ken Randolph and Dr. James Koelbl, dean of the School of Dentistry.

CREATING A LIFE INCOME GIFT

Growing up in Morgantown can give a person a different perspective on West Virginia University. Having a parent who is the dean of a college adds even more awareness of the needs of the University.

Ken Randolph '71 knows first-hand about WVU from his father's experience as dean of the School of Dentistry from 1958 to 1968. Ken also worked for the University early in his career.

In addition, his wife Beverly '67, '74, who was a teacher for six years, knows the benefit of getting an education from WVU. She saw to it that their three children did as well. Definitely, the Randolphs are a proud WVU family!

In 2003 they donated a Morgantown rental property to the WVU Foundation. Both had careers in real estate. To carry out their special gift plans, they used the property to fund a life income gift with the WVU Foundation.

Bev understands well the purpose and benefit of their life income gift. She says, "I know it will do three things: One, help WVU. Two, set up the scholarships and professorship we chose. Three, provide income for us. Should anything happen to either one of us, the other can count on the income."

Their choices for the remaining funds, after their payout ends, were important to them. The "Kenneth Vincent and Elizabeth Bachman Randolph Professorship in Dentistry" and permanent scholarships, in their own names, for the School of Physical Activity and Sport Sciences and College of Business and Economics will be created then.

"I'm glad that this gift gave us the opportunity to recognize Mom's and Dad's efforts for the University," says Ken, "and to give students a helping hand too."

WHERE THERE’S A WILL…

Tom Thomas ’81, an internal auditor with NiSource, Inc., has chosen to make sure that his strong feelings for WVU are shown long after his lifetime.

“WVU has been important in my life. I’m proud to be able to help because I know it’s definitely needed,” says Tom, an avid sportsman and sports fan. He’s one of those Mountaineer fans who has come to every home game for years.

In addition to current gift support, he decided to include gift provisions in his will for Athletics, the College of Business & Economics, and West Virginia 4-H. Each gift will accomplish something that cannot happen otherwise.

Tom’s young age did not deter him from making important decisions for the future. He had some dreams for WVU that he wanted to be sure would come true. By including them in his will, Tom has chosen a very good way to help WVU grow and improve in quality.