Celebrating a Milestone — Charitable Unitrust

Phil Burck '58 and Karen Burck, Friend of Lawrence

Phil Burck '58, credits Lawrence with providing him the requisite tools for a rewarding life. "The personalized education I received prepared me for a successful career as a research scientist at Eli Lilly and Company in Indianapolis. More importantly, my Lawrence education opened up my mind to consider the 'big picture.'"

For decades, Phil has been a faithful donor to The Lawrence Fund, the college's annual fund which supports the college's operations. To mark the occasion of his 50th reunion, Phil decided to join with classmate Kim Hiett Jordan '58 and issue a challenge to encourage their classmates to increase their giving to The Lawrence Fund.

Phil also decided to commemorate the milestone by establishing a charitable remainder unitrust and naming Lawrence as the primary beneficiary. Phil used highly appreciated stock to fund the trust. Since the trust will support charities like Lawrence, Phil avoids capital gains tax on the stock — and qualifies for a charitable deduction. In addition, the trust provides Phil with annual income. Eventually, the principal will benefit Lawrence University and other institutions that enrich the lives of those they serve.

"Lawrence was a transforming experience," Phil says, "and I have remained grateful for faculty like Professor of Chemistry Robert Rosenberg who sought to develop the individual—in addition to the intellect. I have had a blessed life, but I have limitations in my philanthropic abilities. The charitable remainder trust offered me a perfect option of making a gift to Lawrence of a greater magnitude than I'd previously imagined, while providing me with more income in my retirement years. It's a great plan. I highly recommend it!"