Jacksonville State University Office for Philanthropy
Charitable Gift Annuity
allows alumnus to make good on a long-held promise
After he graduated, Curt Mitchell made an unspoken promise to himself and Jacksonville State University.
“I’m going to pay back my scholarship,” said Curt, who played football for the Gamecocks from 1975 until 1976, graduating in 1977. “I didn’t know how, or when, but I was damn sure going to give back at least some of what Jax State gave to me.”
Curt, with the help of Lavonne, his wife of 35 years, made good on that promise in November of last year with the official unveiling of the Curt and Lavonne Mitchell Players Lounge, located within Jax State’s 52,000-square-foot, state-of-the-art Loring and Debbie White Football Complex.
“I’ve always been supportive of Jax State,” Curt said. “Because my wife and I never had kids, we decided that Jax State was going to be our children.”
“We were lucky and blessed to be able to do this,” Lavonne added. “This is going to make a difference to a lot of people.”
For Curt, it’s a way to give back to the university that gave so much to him.
“We’re just happy to be a small part of it and show how proud we are of Jax State; of who we are and where we’re going.”
Curt was a University of Alabama football fan during a time when legends still roamed the Earth. At just 10 years old, Mitchell’s mother would drive him up from their home in Greensboro, drop him off in front of Denny Stadium with five bucks in his pocket to watch Crimson Tide quarterback Joe Namath and head coach Paul “Bear” Bryant achieve immortality one game at a time.
“The CGA is a win-win for both the donors and Jax State.” - Curt Mitchell
The naming opportunity was made possible through a donation the Mitchells made in the form of a charitable gift annuity (CGA). With a CGA, the Mitchells donate to Jax State and, in return, receive a fixed stream of income from the university for the rest of their lives.
“What we have done … part of it is the charitable gift annuity, and part of it will be in our will,” said Lavonne, who is not a Jax State graduate. “Upfront, Jacksonville State is going to get a certain amount through this charitable gift annuity, and then the remaining amount, when we have gone on to bigger and better things, they’ll receive the rest.”
The CGA is a win-win for both the donors and Jax State.
“It’s good for Jacksonville State because they get the money right away,” Lavonne said. “It’s good for us because it’s an investment, a comfortable investment because it’s low risk.”
“It was an amazing time to be a kid,” said Curt from his home just outside of Knoxville, Tenn., where he and Lavonne have retired. “That’s where it started for me. Growing up, all I wanted to do was play college football.”
As a country boy working on the family soybean and dairy farm –along with his five uncles – Curt was a natural athlete who played both football and basketball in high school. He received partial scholarship offers from ‘Bama and Auburn as well as Florida State University, but the Seminoles were coming off an 0-10 season, so he passed on all three. Instead, Mitchell enrolled at Marion Military Institute, playing a couple of years at the junior college level.
But in 1974, Jax State came calling, offering Curt a full scholarship to play fullback during the glory days of the I Formation. Though redshirted his sophomore year, Curt was named a starter in 1975, playing his entire junior and senior years before graduating in 1977.
“Jax State gave this small-town, country boy a chance to continue his education while living out his dream of playing college football,” Curt said. “It was some of the best times of my life.”
About Charitable Gift Annuities
A charitable gift annuity is a way for you to support Jax State and feel confident that you will have dependable income in your retirement years.
With a charitable gift annuity, you agree to make a gift to the Jacksonville State University Foundation 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. The balance is used to support the work of Jax State.
Two Special Funding Options for a Charitable Gift Annuity:
Charitable Gift Annuity Funded with an IRA
You can also fund your gift using your IRA assets. If you are 70½ and older, you can make a once-in-a-lifetime election to fund one or more gift annuities. If funded in 2026, the maximum funding amount is $55,000. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and counts toward all or part of your required minimum distributions.
Important Things to Consider with This Gift
• If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• Please note that all payments distributed by a Charitable Gift Annuity funded with assets from an IRA will be subject to ordinary income tax.
Deferred Charitable Gift Annuity
Like a standard charitable gift annuity, a deferred charitable gift annuity allows you to postpone the first payment to a date of your choice. At the time of your gift, you still receive an immediate tax deduction, but you can choose to defer the start date of income payments you receive from the JSU Foundation. Many individuals
This type of donation can provide you with regular payments for life and allow Jax State to further our mission. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
like this option because it allows them to save money for future expenses or plans, such as retirement. This is also a great option if you’re someone who wants to secure your support of Jax State now, while setting aside funds for the future.
Benefits to you:
• Receive an immediate income tax deduction.
• Potentially reduce your taxes by removing assets from your estate.
• Benefit yourself or others with steady income at a future date.
Through a JSU Foundation Charitable Gift Annuity (CGA), you can create a legacy that has a lasting impact on Jax State and future Gamecocks while receiving income for life. In exchange for your gift of cash or appreciated securities, the JSU Foundation will pay one or two people (who you designate) a fixed percentage of the gift (the annuity) for life; the amount of the annual annuity will depend on the individual’s age and other factors. Typically, you name yourself and one other person (often a spouse) to receive the income; however, others may be designated if you wish. A CGA might help you plan for your retirement, provide supplemental financial support for aging parents who have limited income or assist siblings who may be struggling financially. Once those receiving income have passed away, the JSU Foundation receives the remainder of your gift to support a program or scholarship of the university that is important to you.
Minimums:
• Minimum gift: $25,000
• Recipients must be at least age 65 before payments begin.
• Payments can be deferred if the recipient is under 65.
FOUNDATION
The Remainder goes to Jax State after your lifetime
> The Heritage Society
Your planned gift to the JSU Foundation will have a strong and lasting impact on preserving Jacksonville State University’s cherished past while securing its bright future. In addition to the many financial advantages you receive for making a life income or estate gift, your generosity will inspire other Jax State alumni and friends to consider making a planned gift of their own.
When you create a planned gift, you will be recognized as a member of the Heritage Society — a special group of visionary individuals who have included the JSU Foundation in their long-term financial and estate plans. Our members are insightful leaders who guide the way for future generations of Jax State students.
In order for us to properly thank you, welcome you as a Heritage Society member, and ensure we understand how you’d like the JSU Foundation to use your gift, please let us know of your bequest intentions. If you would like to remain anonymous, we will gladly honor your request. Simply contact us at kdalesandro@jsu.edu or 256.782.5606 to begin creating your legacy at Jax State.
Jax State Philanthropy Team
Alan Medders Vice President for Philanthropy and Executive Director of the JSU Foundation agmedders@jsu.edu
Kim Dalesandro Director of Planned Giving kdalesandro@jsu.edu
Bethany Dryden
Assistant Director of Annual Fund bdryden@jsu.edu
Jeff Burger Football Philanthropy Officer jeburger@jsu.edu
Ashton Coats
Athletics Philanthropy Officer acoats1@jsu.edu
Rosemary Harper
Executive Assistant to the Vice President for Philanthropy roseh@jsu.edu
Jamie Langley Philanthropy Officer jllangley@jsu.edu
Jack Lyle Philanthropy Officer jblyle@jsu.edu
Joseph Munster Senior Philanthropy Officer jmunster@jsu.edu
We Can Help
Hunter Turner Philanthropy Officer hnturner@jsu.edu
Josh Brady Director of Jax State Athletic Foundation jbrady@jsu.edu
Diane Winsor Prospect Research Officer dwinsor@jsu.edu
At the JSU Foundation, we aim to make your giving experience prudent, generous, and joyful. We are here to assist you and your advisors with planning and making gifts that support our mission. For more information about giving opportunities, contact Kim Dalesandro at 256.782.5606 or kdalesandro@jsu.edu. Visit our website at www.jsu.edu/plannedgiving for more details.