Inspire, Spring 2008

Cedarville University 43 Cedarville sells the farm and invests the proceeds. Dr. Kyle avoids capital gains tax and the University professionally manages the sale. Cedarville pays income from the investment to Dr. Kyle’s beneficiaries (his son and daughter) for life. Upon the daughter’s death, her share of the asset returns to Cedarville to be reinvested as an endowed scholarship: the Dr. Donald F. Kyle Memorial Scholarship. Nine scholarships are awarded in 2007 to students in medical or health-related majors. to give his annual President’s Associate contribution. He was always quiet about it. He was always supporting students.” Investing in the Future Several years after his retirement in 1986, Dr. Kyle found another way to invest in Cedarville through a gift plan. He had long since inherited the family farm, and the time came to consider selling the land. He chose to place the farm into a charitable remainder trust, naming Cedarville University as the trustee. The 147 acres of farm land was divided into 11 individual plots and sold at auction in 1996. The sale of the individual parcels brought higher bids than the value of the land as a single plot, and the proceeds came back to the school. Because he chose to sell his land through a charitable remainder trust, Dr. Kyle did not have to pay capital gains tax, and he enjoyed the benefits of having the sale professionally managed. This arrangement brought lasting benefits to his family as well. Dr. Kyle’s gift plan agreement named two family members as beneficiaries of the investment earnings, creating a lifetime income stream for both. Investing in Lives In the years before his death in 1998 at the age of 91, Dr. Kyle was honored by the Ohio Senate and by Cedarville University for his years of tireless community service. Through careful and thoughtful planning, he provided financial security for his family and left a tremendous gift to the University that would help students create a legacy of their own. The first beneficiary of Dr. Kyle’s gift plan passed away in 2005. Under the terms of the agreement, that portion of the asset was returned to the University to be reinvested as a scholarship endowment. The decision was unanimous to honor Dr. Kyle’s legacy by establishing the Dr. Donald F. Kyle Memorial Scholarship. Recipients must be sophomores, juniors, or seniors pursing a degree in a medical or health-related field. Students must also demonstrate financial need and maintain a 3.25 or better grade point average. In 2007, nine students received the scholarship — eight are studying nursing and the other is studying forensic science. Six of the recipients are pictured at right. When Dr. Kyle was honored in 1985 at a Homecoming chapel, he was described as a man with “admirable dedication, possessing an unselfish nature, willingly giving of his time, abilities, and energies to help his community. He has served Cedarville and the surrounding area with dedicated concern for the medical needs of its citizens.” And now his thoughtful gift is enabling Cedarville University students to do the same. His legacy will continue through their lives of service. The need for scholarship assistance is great. Contact Kim (Botta) Longo ’02, director of the Cedarville fund and scholarship services, to learn how you can leave a legacy at Cedarville University. All inquiries are confidential and free of charge. Call 1-800-766-1115 or e-mail longok@cedarville.edu. Carol Lee ’96 has served as an advancement officer with The Cedarville Fund since 2005. She also writes for Cedarville’s quarterly Update newsletter. You may contact her at carollee@cedarville.edu. advanc ing Cedarv i l le