Deferred Gift Annuities--Lisa Lexa and David Wilson '67
"Sports mad" describes young David Wilson '67 when he was a high school student at The Haverford School. In addition to the staff coaches, the teams benefited from the counsel and help of assistants who often were admirable Haverford College students. So when David thought about college, Haverford was a logical place—even though his high school buddies ribbed him about not going away and "only walking across the street."
In fact, he didn't get much beyond that choice except for a tentative foray to Princeton. His father graduated from Haverford in 1933 and when he suggested a "ramble" around the campus in the summer following David's junior year of high school, the two walked from their nearby home to check it out. By chance, the associate director of admissions, Bill Ambler '45, was in his office and he took time for an unscheduled chat.
That's when David learned of the early admission policy: apply by October and have your answer by Thanksgiving. For a typical teenager (who reveled in immediate gratification!), this was a good deal. His future would be set. And he'd be able to continue his favorite sport—swimming—with The Haverford School coach who did double duty at Haverford College.
With a laugh, David notes that his years at Haverford were punctuated by poker evenings when reading assignments and papers got pushed aside for a while. And the "Tenth Entry" just off campus was a favorite beer hall when he and his classmates were "old enough" to patronize it.
The good times were balanced by a rigorous academic life. A history major, David particularly enjoyed his classes and seminars with Roger Lane where topics ranged from the Confederate States before the Civil War to the progressive era. And George Kennedy's lectures on Greek and Roman history were a highlight.
After graduation, David attended the Wharton School at the University of Pennsylvania where he received a degree in finance. His liberal arts background combined with business school have served him well in his career. Currently he's a senior portfolio analyst at Vanguard—a position that's been "a rollercoaster" in the present economic climate.
In addition to annual fund gifts, David and his wife, Lisa Lexa, have established five deferred payment gift annuities over eight years. Payments to the Wilsons have staggered beginning dates, starting in 2010 when he is 65. Their income will increase as they move further into retirement with three of the annuities "maturing" at age 70.
The couple is sold on the mutual benefits of this kind of contribution. Ultimately David's beloved Haverford receives the principle of the gifts. But the Wilsons are assured a fixed income for life, no small advantage in a world where defined benefit pension plans are disappearing and individuals are more responsible for their retirement security.
David says, "The deferred payment annuities provide guaranteed build-up in addition to a generous tax deduction, a reliable cash stream, and a significant way to support the College. Although it's a cliché, this kind of contract really is a win-win."
From his years of service in the alumni association and on the Board of Managers, David is well acquainted with the College's needs for funds. "That's where you really learn the ins and outs of Haverford's finances. There's never quite enough!"
From his home in Rosemont, David runs the four miles to the campus when he can to enjoy a few turns around the college track, greeting coaches and others as he continues his commitment to fitness. Indeed, Haverford College remains close to home and close to his heart!