“I like to plan ahead, it makes life more enjoyable to be practical.”
“St. Ben’s is my place, she said. “It’s a very important part of my life. The Sisters reinforced the values I learned from my parents.” One of the values, Barbara learned from her father was good financial management. “He taught me about investing,” she remembered. When Barbara’s husband died while the couple’s five children were still young, Barbara made sure her family’s money was spent wisely. “I had to become of aware of good money management,” she said.
As she was sending her children to college – including daughters Cate and Claire to the College of Saint Benedict – Barbara was working at the University of Minnesota, Morris as the reference librarian. While there, she read some literature about charitable gift annuities and decided to help her alma mater. “It seemed like a good way to benefit CSB,” she said.
With a charitable gift annuity, a donor makes a gift to the College; in return the College guarantees a fixed income to the donor for life. The income is based on the donor’s age at the time the gift is made, and part of the yearly income from the gift is tax-free