Worthens Create Gift Annuity to Support University and Supplement Retirement Income

Those associated with former Ball State University President John Worthen and his wife, Sandra, knew that retirement would not slow down this energetic couple. The Worthens knew that retirement would not change their long history of support for the university and the local community. wortherns300

Whether it's hiking the mountains of Machu Picchu, Peru, snow skiing in Colorado, or serving on various boards and organizations, the Worthens have remained busy since retirement in June 2000. They wanted to find a way to support Ball State while allowing for a comfortable retirement where they could enjoy an active lifestyle. The couple found a solution by setting up a charitable gift annuity through the Ball State University Foundation.

"We wanted to assist the university as well as diversify our investments," said John Worthen. "This is a great arrangement in times when CDs, bonds, and other investments aren't paying much. In addition, we will receive guaranteed income for the rest of our lives." The Worthens' gift annuity was created with a gift of appreciated stock.

The Worthens not only get the satisfaction of making a significant gift to the university, they also receive fixed income for life, an immediate income tax deduction, avoidance of capital gains tax, and reduction of potential estate taxes. In addition, income payments are partially tax-free, which further increases their after-tax dollars available for spending or investing.

"It's a win-win situation for us and Ball State," said John Worthen.

Since retirement, the Worthens have spent the spring and fall in Muncie and the summer and winter in Steamboat Springs, Colorado. They are very involved in both communities and welcome many visitors to Steamboat, but there's only one place they truly call home.

"Muncie is still really home for us," said Sandra Worthen. "It's a vital community with a growing university, and we're proud to be a part of it."