Mike Campbell Uses Charitable Gift Annuity to Generate Income and Invest in Adelphi’s Future
From an income and a philanthropic point of view, Michael Campbell ’65 knows an investment in Adelphi pays impressive returns—which is why he has established a charitable gift annuity (CGA) with his alma mater.
Growing up on Long Island, Mike, who served in the U.S. Marines after graduation, was the first in his family to attend college—something he has in common with many other Adelphi alumni. His bachelor’s degree in economics and a later business degree helped him enjoy a successful career on Wall Street. Now retired, Mike continues to manage investments, including his recent decision to invest in an Adelphi CGA.
“For more than a century, Adelphi has prepared promising students who have changed the world,” says Mike, who has served on the Board of Trustees of Adelphi, including as chairman from 2005 to 2008. “I can’t think of a better investment than higher education, and Adelphi University in particular.”
Increased annuity rates prompted Mike, a longtime member of the Adelphi Forever Gold Society, to change his planned gift from a bequest to an income-generating CGA. Such an arrangement pays attractive yields and provides tax benefits while locking in future support for the University, he notes.
In addition to educating many first-generation college students, “Adelphi trains people for professions most needed by society,” says Mike, who now lives on Nantucket with his wife, Katie Grover. “Teachers, nurses, social workers,” to name just a few. “Those are positives that resonate with me. I feel good about giving to Adelphi.”
Mike encourages his fellow alumni to consider a planned gift, especially a CGA in the current market conditions, noting: “I think they might be surprised at the yield you can get.”
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