A D VA N C E M E N T
Alumna Endows New Scholarship Fund
Janet McNutt ’63
CYNTHIA CLARK PHOTOS.COM
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he recently established Janet McNutt Endowed Scholarship Fund at Trinity will provide critical new financial resources for talented students in need of support to achieve their dreams. Created by Janet McNutt ’63, the fund is the latest example of her generous support of Trinity and the broader community. As an undergraduate, she was a music major and continues to support that department with discretionary funds that are used to keep the pianos in tune and address other needs. In 2011, McNutt began exploring planned giving options with the University and decided to create the new scholarship fund with $100,000 rolled over from an existing individual retirement account. She was pleased to be able to take advantage of the opportunity to make an outright gift from her IRA without tax penalties.
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New endowment gifts of this amount are held by Trinity for 12 rolling quarters until they mature, then ultimately generate 4.5 percent, or about $4,500 annually, based on Trinity’s endowment policy as approved by the Board of Trustees. McNutt also named Trinity as the beneficiary of the remainder of her IRA account. The gift to Trinity qualified McNutt for membership in the University’s Heritage Society, which recognizes individuals who have included Trinity in their estate plans. “I enjoy being able to give back to Trinity and to San Antonio,” she says. “I look forward to meeting the students who will be helped by this new scholarship fund.” In addition to her work for Trinity, McNutt is active in many other San Antonio organizations, serving on several boards including those of Texas Public Radio and Planned Parenthood of San Antonio. The law Ms. McNutt took advantage of allowed tax-free IRA charitable rollovers up to $100,000 by individuals age 70½ or older. Congress recently extended this special incentive through December 31, 2013. If you are over age 70½, you are permitted to roll over up to $100,000 from your IRA without claiming any increased income or paying any additional tax. If you would like to speak with someone who can provide additional information, please contact the Office of Planned Giving at (210) 999-7697 or e-mail khowland@trinity.edu.
Entrepreneur Honors Mentor with Gift for CSI
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an Antonio entrepreneur and Trinity
alumnus Sardar Biglari ’99 pledged $250,000 through the Biglari Foundation to support a portion of the new Center for the Sciences and Innovation (CSI) in honor of former Trinity faculty member Philip L. Cooley, Ph.D. At Biglari’s request, entrepreneurship classroom 383 in Phase III of the CSI will be named in honor of Cooley, his former professor and the Prassel Distinguished Professor of Business Administration, who retired last May. A commemorative plaque to be placed inside the classroom will highlight Cooley’s accomplishments in “mentoring hundreds of future business leaders and advancing in-depth knowledge in the area of finance.” Biglari’s gift to Trinity accentuates the role of entrepreneurship in the new CSI facility and underscores his own success in the world of business. At 22, Biglari started a small hedge fund with money collected from the proceeds of an Internet company he founded while attending Trinity. Biglari, an entrepreneur, businessman, and investor, is chairman and CEO of Biglari Holdings, a diversified holding company.