Gift Planning

Donor Stories

ammarell-lg.jpgRobert R. Ammarell ’65
Gifts to Colgate Can Benefit Retirement and Create a Philanthropic Legacy

Ammarell, a retired stockbroker and personal investor living in Jupiter, Florida, will help the Colgate Library Endowment through his charitable remainder unitrust (CRUT). Before computers, the political science major worked in the library cataloguing books by hand.

“I learned about the decision-making that goes into purchasing library material, cataloguing the new books on index cards, and cross-referencing everything by the Library of Congress filing system so it was readily available,” said Ammarell, who savors intellectual challenges. “It was a hell of a job for a kid who was 20 or 21.”

Several decades ago, Ammarell decided a CRUT was the best way to fund both his family’s retirement and personal philanthropy. He put an appreciated asset—his New Jersey home—into the CRUT, held it for a year, and then sold it, sheltering the capital gain from taxation. Distributions from the CRUT provide extra income for Ammarell and his wife in retirement.

Originally Ammarell designated 75% of the CRUT’s remainder to go to a family foundation and 25% to the Colgate Library Endowment when he and his wife die. As other assets grew, however, he no longer needed the CRUT to fund the family foundation and worked with Colgate’s Planned Giving office to make the library endowment the sole beneficiary.

“The CRUT is tax-efficient, preserves income for our retirement, and is a wonderful vehicle for charitable giving to Colgate,” he said.



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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