Richmond Home

Donor Stories

That's What Friends are For
betty and mary

Mary Murphy and Betty Gustafson have a lot in common. Both taught at Binford Junior High School in Richmond, both are dedicated to young people, and both recognize the importance and power of education.

Betty graduated from Westhampton College in 1947 and for many years regaled Mary with stories of her days as a student. Even though Betty loved her alma mater and made annual gifts, she was not particularly involved as an alumna. That all changed in 2000 when Betty was inducted into the University's Athletic Hall of Fame for her level of excellence and achievement in tennis, basketball, track and field hockey while at Westhampton. Betty's thoughts once again turned to her University and she began to think about how she could become more involved and make a difference to this institution that meant so much to her.

Betty's love for her alma mater was infectious and Mary soon became involved with the University, taking classes through the Osher Institute for Lifelong Learning. Mary is still loyal to her alma mater, Florida State, where she received her undergraduate degree and to William and Mary and the University of Virginia where she received her graduate degrees, but the University of Richmond has become her "adopted" University.

Mary also wanted to "make a difference" at Richmond, so together Mary and Betty decided to establish the Betty A. Gustafson Endowed Scholarship. The Scholarship endowment will be funded primarily through estate gifts, and both Betty and Mary have made provisions in their wills for bequests to ensure the permanence of the Gustafson scholarship. Though they were thrilled that their estate gifts would endow the Scholarship, they recognized how meaningful it would be to have a chance to meet a student during their lives. They wanted to see how their gifts truly make a difference in the life of a student. They established an annual component to the Scholarship whereby they donate funds each year that go directly to support the Betty A. Gustafson Scholar.

Mary, unbeknownst to Betty, had something else in mind as well. As Betty's 80th birthday approached, Mary chose to celebrate by inviting Betty's many close friends to a surprise, tennis-themed birthday party. In lieu of gifts, guests were encouraged to make a donation to the Betty A. Gustafson Scholarship. Through the tireless efforts of a planning committee, over 200 guests enjoyed a magical evening; and yes, Betty was truly surprised. But the greatest surprise of the evening was when JoAnna Ubiwa, the first Betty A. Gustafson Scholar, was introduced.

Mary and Betty exemplify the meaning of friendship and the appreciation of the gift of education by making the University of Richmond a part of their estate plans. The University is sincerely grateful for their vision, generosity and devotion to our students.

Betty Ann Dillon Believes in Giving Back
betty dillion

After graduating from Westhampton College and earning her MA, Betty Ann saved from her salary and paid back the scholarship given to her by Richmond's First Baptist Church. Although NOT required by the church, Betty Ann personally chose to do this so that, "somebody else could have the opportunity I did." She has been giving back ever since — to her church her family, her University and community.

Betty Ann was asked to serve on the University of Richmond Board of Trustees. During that time and through her many volunteer efforts, she was able to see the university as a whole, and how "it all comes together." As a result she funded her first annuity. She saw charitable gift annuities as a way to receive a guaranteed income stream for the rest of her life, realize significant charitable income tax deductions, and give more than time and talents to the University. Six additional annuities were to follow.

Her affinity for the University of Richmond and Westhampton College is deep because she feels that "Westhampton opened my eyes to the world and helped me figure out who I was. Westhampton taught me how to learn, how to think, and how to roll with the punches. The University and Westhampton College are unique in that they provide an excellent liberal arts education within a context of values."

Annuities have enabled Betty Ann to give financial resources to the alma mater she loves, while providing her with a fixed income and tax deduction.

Unrestricted Gift Annuity
Ted Jones

LTC Ted Jones, R'59, still carries himself with the military bearing he acquired as an ROTC student at the University of Richmond. During Ted's 20- plus years in the military, he and Mary Lee, his wife of 47 years, and their three children moved to places as different as Bangkok, Thailand and Norfolk, Virginia. The family stayed behind during Ted's tours in Korea and Vietnam.

Ted has always been a loyal Spider, but his military career made it difficult to get back to campus very often. Richmond remained very special to him though, and he maintained the connection with "his" university over many years. In fact, Ted has given to the University every year for 25 years. After retirement, his thoughts turned to giving back to his alma mater in a more profound way.

Ted and Mary Lee decided to establish a charitable gift annuity that will provide them with guaranteed income for the rest of their lives, as well as a significant charitable income tax deduction. When it came time to discuss the ultimate designation for the gift annuity, Mary Lee and Ted decided to make this an unrestricted gift. The thought behind this decision was that only the University will know how and where the funds can best be used when the time comes. When asked why he decided to do a gift annuity with an unrestricted designation, Ted responded, "I hope to inspire others to do the same thing."

Doing Great Things for Her Alma Mater
Mary Carpenter

Last April, pediatric cardiologist, Martha Carpenter was home sick with pneumonia. A call, however, had her quickly on her way back to her office at the University of Virginia Medical Center. A newborn had been flown in from Blacksburg and was in desperate need of an interventional catheterization to open a heart blockage.

She matter-of-factly tells the story about saving a life: "I went over, opened up the blockage and crawled back home again. The child is doing great."

Dr. Carpenter, who graduated in 1951, also has been doing great things for her alma mater. She has served on the University's Board of Trustees for almost 30 years. She has enjoyed working with several Richmond presidents, she says, and knowing so many people on the board whom she wouldn't have met any other way. She especially enjoyed knowing the late E. Claiborne Robins Sr., citing not only his great generosity, but also his wisdom and judgment.

"I have loved every minute of it," she said. "It's a very gratifying experience to participate on the board of your alma mater."

She also is a loyal and generous donor to the University. "I believe you should give according to your ability," she says. "Education is one of the most important things in the world. I was fortunate to get a good education, and I am happy to support the school that started me along those lines."

For this reason Martha has included the University of Richmond in her estate plans in the form of a bequest through her will.

Miss Virginia Ellett
Virginia Ellett

Virginia Ellett, W '47 is proud of her alma mater, Westhampton College. Virginia, a long time teacher and educator, decided to give back to Westhampton through a bequest gift that will add to a scholarship named for her parents that she previously established and continues to fund.

Virginia, originally from the rural area of Virginia known as Beaverdam, came to Westhampton College as a freshman in 1943. There were few men on campus because most were off serving in the military during WW II. Virginia jokes that dates were hard to come by for Westhampton College social events.

After graduation Virginia, who graduated with a dual degrees in Biology and Math with a minor in Chemistry, took a job teaching high school science in Stafford County. Her teaching career led her to a Masters degree at the University of Virginia and numerous continuing education opportunities at Union College and Bowdoin College and in Oak Ridge, Tennessee to name a few.

Virginia established a scholarship with the University of Richmond years ago for the benefit of young women at Westhampton College majoring in biology, chemistry, physics, or mathematics. Virginia Ellett, credits Westhampton College at the University of Richmond for laying the foundation for her life both professionally and socially, as is evident by the many classmates who are still her friends today.

The University is grateful to the many alumnae, like Virginia, who look to the future of Westhampton College students.

John and Burrell Stultz
John Stultz

John and Burrell Stultz met while students at the University of Richmond. The University was an important part of their lives then and it still is today. John and Burrell decided to give back their alma mater through gift annuities to benefit the University.

College sweethearts, they are still sweethearts today, after fifty-two years of marriage. John came to school after a stint in the military. He served in the Naval Reserves and then enlisted in the army during the Korean War. When he returned home, he enrolled at the University of Richmond as a 24 year old freshman.

Years later, after attending a University of Richmond basketball game, they realized what a special place their alma mater was and decided they wanted to become more involved. Since then, both have performed countless hours of volunteer work at UR.

This led to their consideration of doing a gift annuity with the University. They had received various mailings regarding the tax advantages, charitable deduction and income stream generated from annuities to supplement retirement income. Burrell and John were so pleased with the results of the first annuity that they did two more. The Stultzes are relieved they no longer have to worry about their investments and know the University will invest wisely and always provide them with a fixed quarterly income.

We are grateful to Burrell and John for their gift of time and resources and we embrace them as a part of the community that embodies the University of Richmond.

Gold Coins Fund a New CGA
Robert Allen

What is a Krugerrand and how can it translate into a Charitable Gift Annuity?

"Do you know what a Krugerrand is?" That was the question Dr. Robert Allen Jr. R '66 asked the Gift Planning staff at the University when considering funding his seventh gift annuity. We quickly found out that a Krugerrand is a 1 oz. South African gold coin. Dr. Allen had come by these coins while serving in Germany as an Army doctor over 30 years ago, and they had languished in a desk drawer ever since.

Dr. Allen and his son Rob, R'94 and GB'03, a financial planner, thought that during this time of depreciating stocks, it might be advantageous to turn to the gold commodities market to fund an annuity. Their hunch proved to be correct, and after watching the markets for over a year, the time was right to give the Krugerrands to the University to sell to fund a deferred annuity.

Funding for annuities comes in many different forms - from appreciated stocks and securities, to cash, to real estate, etc. Proceeds from transfers of property to the University enable the Gift Planning staff to work with a donor and their financial advisor to set up an annuity or other planned giving vehicle. This type of financial planning will produce a consistent income stream for life that will not fluctuate.

By funding seven deferred gift annuities with staggered future payout dates, Dr. Allen can plan for increasing income as the years pass as a hedge against inflation. Bob and Margaret Anne feel secure in the knowledge that their gift annuities are backed by University assets, while at the same time providing them with a charitable deduction and tax savings.

The University of Richmond is very grateful to Bob and Margaret Anne for their foresight in creating multiple gift annuities that will ultimately fund a scholarship in memory of Bob's father, Dr. Robert W. Allen, R'34 and H'59, grandfather not only to Rob but also to Virginia Allen Barkett W'91. What a wonderful legacy for the entire Allen family to have at the University for generations to come.

Making a Planned Gift


If you would like to receive a printed or e-mail gift illustration please call 804-289-8358 or e-mail Aaron McClung, Director of Gift Planning, at giftplanning@richmond.edu.