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Gift Planning

Haverford Opened My Eyes

Carl Grunfeld

His Haverford experiences broadened his perspectives, shaped his future accomplishments, and inspired him to make a positive impact as an internationally distinguished scientist, clinical investigator, and professor. And Carl Grunfeld knows he didn’t achieve success alone.
Photo courtesy of Carl Grunfeld

I became interested in Haverford through my brother’s smartest and most interesting friend, Murray Levin ’64. I visited him on campus, went to a class, and was impressed by how seriously the process of learning was taken. Haverford introduced me to a much broader world than I had grown up with, preparing me for things of which I had never dreamed.

At Haverford, I tried all sorts of things that enriched me and changed my life—including photography, running, and appreciating live music.

For instance, shortly after I joined the newspaper, the photography editor quit. I was the only one on the staff who knew how to take pictures and develop them, so I became the photography editor. I also did some professional photography with Chris Kane ’68 and worked with Steve Faust ’68 on our yearbook photography. This turned into a lifetime hobby, and I still love to photograph interesting things.

Immediately after arriving on campus, I started running cross country, although I was not an athlete and didn’t run or jog. It took me two weeks just to be able to finish the course. In the beginning, Terry Little ’68 would lap me on the two circuit cross-country trail. I ran track and cross country all four years at Haverford, despite the fact that I was terrible and actually hold the record for finishing last the most times in Haverford history, only beating another runner once. At a recent reunion, I learned that my perseverance had served as inspiration to the good runners.

Carl Grunfeld

Carl on Founders Porch during his 50th reunion.
Photo by Patrick Montero

I went to concerts at Haverford, which I had rarely done before. We heard the Moscow Chamber Orchestra in Roberts Hall, and for the first time in my life I could see the instruments while listening. That made me understand and fall in love with classical music. I went to a Sun Ra concert, which opened me up to jazz. And I could list many more things I did for the first time at Haverford outside of classes that have had major influences on my life and which continue to shape me.

The scientific education I received was superb and hooked me on being a biological researcher, which made me a better medical researcher. The liberal arts education made me both a better scientist and a better person. History, literature, and philosophy have enriched my life, giving me interests that I have pursued ever since. I also studied (although not in a class) with philosophy professor Aryeh Kosman. His joy of teaching was an inspiration to me when I became a professor.

Haverford’s biology professors—Mel Santer, Ariel Loewy, Irv Finger, and Dietrich Kessler—led me to love biology and gave me a profound appreciation of how our cells work. With help from a generous financial aid package, I could afford to work in the lab with the summer stipend. I found that I loved lab work.

I have been fortunate to achieve a position of success and privilege. I know that I did not get here by myself. When my father became disabled and we lived on my mother’s secretarial salary, my Haverford scholarship and other support to my family were essential. Haverford and the community supported us, and therefore I know that I should support Haverford and the community.

I’ve always contributed to Annual Giving, and I wished I could do more. After all, I went through Haverford on scholarships and wanted to pay that back. However, giving much more might compromise my retirement funds. A deferred gift annuity (DGA) presented a wonderful solution to allow me to give more, but get income from the funds if I needed it. On the other hand, Haverford would get more if I died early—which I don’t plan to do. Because a DGA works so well for me, I actually have more than one! Haverford is in my will, but the deferred annuity is a tax-deductible donation right now, which is helpful, too. So it’s a good way to give more without compromising future needs.

Haverford opened my eyes to many beautiful things about the world that I appreciate, and also opened my eyes to the problems we face, inspiring me to work on them. Because the College helps people succeed in careers that improve society, we should all do our best to find ways to support this eye-opening education for future generations.

Carl Grunfeld ’68 P’10 is a professor of medicine at the University of California, San Francisco, and associate chief of staff for Research & Development and former chief, Division of Metabolism & Endocrinology, at the Department of Veterans Affairs Medical Center, San Francisco. In 2012, the Alumni Association of Albert Einstein College of Medicine, where he obtained his M.D. and Ph.D., honored him with its Lifetime Achievement Award. In 2018, Haverford recognized his outstanding professional accomplishments with the Distinguished Achievement Award.

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A charitable bequest is one or two sentences in your will or living trust that leave to Haverford College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Haverford College, a nonprofit corporation currently located at 370 Lancaster Avenue, Haverford, PA 19041, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Haverford or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property, or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Haverford as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Haverford as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Haverford where you agree to make a gift to Haverford and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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