A gift that makes cents

Accountant supports Ichabods and receives income for life

Carol and Jere Noe

Carol and Jere Noe receive lifetime income from their gift, which will support scholarships for future students.

Jere and Carol Noe are enthusiastic supporters of Washburn University. They recently created a charitable gift annuity (CGA) through the Washburn University Foundation that will allow them to receive fixed payments for life while giving back to an institution they love to support.

“A charitable gift annuity was a good fit for us because of the annuity rate and our age,” Jere said. “I think when you’re successful, you ought to give back. This is one way you can give back and still receive income.”

Like the Noes, anyone can set up a CGA through the Washburn University Foundation and enjoy a fixed revenue stream for life. A CGA is a contract (not a “trust”), under which a charity, in return for a transfer of cash, marketable securities or other assets, agrees to pay a fixed amount of money to one or two individuals for life. The annual lifetime payment is based on your age and a set annuity rate, and you can receive a variety of tax benefits, including a federal income tax charitable deduction when you itemize.

A CGA can support a bright future for Washburn and deliver a reliable, secure revenue stream for the lifetime of one or two individuals. The remainder of the gift annuity goes to support Washburn in an area of your choice. The Noes’ gift will endow a business scholarship, advancing students for generations to come.

Jere, bba ’59, worked and served in the military before he considered college. With help from the GI Bill, he figured he could afford it, and he became the first in his family to attend college. Harold Rafferty, his advisor and accounting professor, said he could get Jere a part-time job with an accounting firm. Jere had thoughts of trying out for the basketball team instead.

“He asked if I was good enough to play professionally. I wasn’t, so he said, ‘At your age, you better take this job.’

“I took the job and it was the best advice I ever got,” Jere said.

He started as a file clerk and eventually became partner with what is now Wendling Noe Nelson & Johnson. Jere retired as a partner in 1999 but still works with some long-time clients.

Jere and Carol are generous Washburn donors, actively supporting areas like scholarships, professorships, new buildings and athletics, and give liberally of their time attending numerous campus events. Jere has served on the Washburn University Foundation Board of Trustees for 22 years.

“We (the Foundation) do a lot of good helping students who might not otherwise make it. Like me when I was starting out. I think a little financial assistance can be a big motivator,” Jere said.

Jere and Carol are changing lives with their gifts to Washburn. To learn more about how a charitable gift annuity can help you support Washburn students, contact Jeannie Shy at 785.670.2734 or jshy@wualumni.org.

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