“Living on a fixed income while enjoying retirement means we’re careful with our money,” says Bill Wade ’72, economics. “Making a bequest intention to the UMBC Foundation allows me to give more than just writing a check. I met Bridget, my wife of 47 years, lifelong friends, and have incredible memories from UMBC. Hopefully my gifts will open the door for future students to have opportunities to do the same.”
It has been more than 50 years since Bill transferred to UMBC his sophomore year and made the cut for the 1969 men’s basketball team, an accomplishment that would go on to define his collegiate experience. While they didn’t win many games during his three years on the team, Bill graduated as the leader in points and rebounds, and still holds the record for most rebounds in a single game.
Since retiring and moving back to the East Coast, Bill stays connected to UMBC through activities like the annual Retrievers Golf Tournament, basketball games, alumni events, and communications from the Founding Four, an alumni group composed of graduates of the university’s first four classes.
Bill’s planned gift supports the men’s basketball program and two endowed funds established by Jack Mullen ’72, economics, and Carol Mullen ’70, American studies—the Charles F. Peake Endowment for Economics and the Gary G. Rupert Endowment. Bill and Jack have been friends since their time together on the court and in the classroom.
Bill utilizes the required minimum distribution from his IRA to make annual contributions to these funds. Donations like these are a flexible, tax-smart way to make a gift.
“Bequest intentions from donors over the age of 60 are able to be counted in our Grit and Greatness Campaign,” says Greg Simmons, Vice President for Institutional Advancement. “We are grateful for the Wades’ current generosity through their IRA contributions as well as their future bequest commitment.”
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.