A Generous Gift, A Reliable Return

It would be safe to say that Seattle University alumnus Don Hoba, '51 didn't follow a typical career path.

After graduating from Seattle U with a degree in chemistry, Don first went to work for General Electric and spent most of his career in different parts of the country working for technology companies. Later, after he was able to retire early from Honeywell International, Don turned to something new—cattle ranching on 31 acres in Enumclaw.

Don is an astute investor and he places a high value on his Seattle University education.

Today Don has a number of charitable gift annuities with Seattle University that provide a steady stream of income each quarter. "With Seattle University I am investing in education and young people. For me, my education at Seattle U was the best investment I've made. I think the education there has purpose—teaching philosophy, logic, values—important things that stay with you your entire life."

These annuities, along with a bequest from Don's estate, will establish the Hoba Endowment Funds in honor of his parents, August and Stella, and his brother Frederick. Don's gifts will support undergraduate research in the College of Science and Engineering, student scholarships, and the Lemieux Library and Learning Commons.

"When I was in school, I had outstanding teachers. The professors were always helpful and available to talk with you, inside the classroom or after class," Don said. "I know it's still that way today at Seattle U and that's very important to me."

A Charitable Gift Annuity offers a number of benefits for donors while at the same time providing generous support for the university. It provides a fixed, secure retirement income for life and can potentially help diversify a portfolio. With a gift of cash, CD's, stock or other assets, a donor can receive fixed payments for his or her lifetime. The remainder of the gift will come to Seattle University.

There are also valuable tax savings with a gift annuity including the charitable deduction and the possibility that a portion of the annuity income could be tax free, as well. The amount of the annuity payment is based on the age of the donor and gift amount.

To receive an annuity illustration and for more information, please contact Seattle University's Office of Planned Giving at (206) 296-6974.