Majoring in political science at Colgate turned out well for C. Lloyd Johnson, Jr. ’64 when he joined the family business.
The C. Lloyd Johnson Co., Inc. provided sales, merchandising, and marketing services on behalf of companies like the Campbell Soup Co., Dial Corporation, Canon, Timex, Seiko, and many others who were interested in placing their products in stores on military bases worldwide. Because funding for those stores came from the U.S. Treasury via the Pentagon, Johnson interacted with congressmen and worked through trade associations to try and influence budget discussions in Washington.
"I chose the right major by accident," said Lloyd from his Virginia Beach home.
By contrast, he and his wife Patti's support of Colgate is more carefully thought out. Lloyd has a deep connection to the university because of his great education, the lifelong friendships he developed, and the opportunity to participate in sports as both a participant and enthusiastic spectator. "I really got all the tools I needed to be successful," he said.
After selling the family business and retiring after 45 years, Lloyd and his wife decided to do something big for Colgate. The Johnsons established a charitable gift annuity that funds the C. Lloyd Johnson, Jr. '64 and Patricia L. Johnson Endowed Scholarship with preferences for students from Virginia.
"From volunteering with the Admissions Office, I'm perhaps more aware than the average alumni about the importance of financial aid in attracting good students to Colgate," said Lloyd, whose middle son Scott ’91 is also a Colgate alum. (The Johnsons have three sons and two grandsons.)
In addition to helping the university, Lloyd and his wife receive payments as long as they live and a charitable tax deduction. "Everything was so attractive that we were able to give more than we normally would," he said. "If you want to make a difference and do something good...you should consider a charitable gift annuity with Colgate."
The discussion herein is general in nature and may not apply to all individuals. Prospective donors are urged to consult their personal tax and financial advisors concerning the specific consequences of making gifts to Colgate. We would be pleased to discuss, in confidence, ways in which you may support Colgate. These measures may also have an impact on your estate planning.
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