Gotwals Honors Family and Receives Lifetime Income Through Charitable Gift Annuity
At a time when women rarely took up the seats in a classroom of higher education, Lois Folk Gotwals set out to be one of those few. Knowing that her dream to teach required a degree, Gotwals, who passed away in 2014, made her way to Ball State University - a premier teaching college.
After earning her bachelor's and master's degrees in home economics education, Gotwals had the opportunity to teach throughout Indiana. She joined the Purdue University staff, traveling and teaching adult groups. Gotwals even had the opportunity to serve her alma mater for 10 years while teaching textile studies at Ball State. She later retired back to West Lafayette, Indiana, but never forgot the opportunities she had been afforded by attending and serving as a faculty member of Ball State.
When the prospect came to give back to Ball State, a charitable gift annuity just made sense, she says. After accumulating a large return from a stock investment, Gotwals was able to donate her stock without facing a heavy capital gain tax in exchange for supporting the university. Her assets help the school she loves and in return, she receives quarterly payments each year that help her live comfortably in her retirement years.
Most importantly, the residual from Gotwals' gift will support the Sylvia D. and Ralph D. Folk Memorial Scholarship-a fund that honors her family and supports students studying music, a family passion.
"I was fortunate to attend the university at a time when the state paid most of the tuition costs," Gotwals says. "Now that times have changed, I was inspired to help out those students who don't have the opportunity I did."
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