As John Coburn ’59 approaches his 65th Reunion next year, he reflects fondly on his Milton experience. “I liked all of my teachers, classmates, and coaches, and those connections are still going,” says John. “There were twenty-five of us who went on to Harvard together and remained friends. I still go to all of my reunions!” When Milton Academy presented John with the opportunity to join the Forbes Goodwin Society by using proceeds from the sale of a family summer house to create a charitable remainder trust (CRT), he knew it was a great opportunity to give back to Milton.
A CRT allows donors to give cash or appreciated assets to a nonprofit of their choice and receive payments as a fixed percentage of the trust’s annual value. It carries with it tax incentives, and when the trust terminates, the balance is transferred to Milton. John shares, “There were so many benefits of this type of gift. It was a way to give more without spending anything. We avoided taxes at the time of the sale, now we receive a percentage, and the school will get the remainder. I’m very glad I did it—it was a good decision.” John’s thoughtful gift will continue to support Milton’s students, faculty, and staff for years to come.