For Betty “Betts” Young Haswell, MM 1968, and her late husband, Walter T. “Tom” Haswell III, Ph.D., E 1966, 1967, 1969, a charitable gift annuity to Carnegie Mellon solved a significant tax issue — and honored their decades-long love for the university.

“I would advise other donors to do the same thing!” Betts says. “It was a win for Tom and me, and a win for CMU.”

Betts and Tom needed to divest some closely held, restricted stock. They faced substantial capital gains taxes if they sold the stock themselves. But giving it to Carnegie Mellon reduced the tax burden and established a charitable gift annuity, which ensured them a lifetime stream of income.

A native of Butler, Pa., Betts feels great affection for Carnegie Mellon University. Her beloved father, Francis “Frank” J. Young, E 1947, graduated after attending night school for 13 years, and her brother and two sisters are alumni, too. She remembers fondly the “wonderful professors” with whom she studied as a modern languages major. Following their lifetime, the Haswells’ gift annuity will support in perpetuity a scholarship to be named for Dr. Everard Mott Williams, head of the Department of Electrical and Computer Engineering from 1952 to 1969, who was Tom’s mentor.

“I’m glad Carnegie Mellon is still the great place I remember. Giving to the university and to young people’s education is one of the best things we can do,” Betts says. “Supporting the next generation makes the world a better place.”

If you’re interested in setting up a charitable gift annuity, contact Joseph Bull, J.D., executive director of gift planning, at 412-268-1948 or askjoebull@andrew.cmu.edu.