Lifetime of Service Leads to a Life Changing Scholarship

Otis and Anne Cole

The Otis and Anne Cole Endowed Scholarship will provide for USD students for decades to come.

Otis and Anne Cole Demonstrate the Power of Planned Gifts
Otis and Anne Cole grew up with parents who were dedicated to serving the greater good.

Otis Robert Cole Jr. was born in 1915 to an Army officer and the daughter of an Army officer.

Born the same year, Anne Fauntleroy Cole grew up as the only child of a U.S. Public Health Service physician.

It's no wonder, that a decision the couple made 20 years ago was rooted in their legacy of serving the greater good.

Love Midst War
Otis and Anne's lives together began in 1937, just one year after Otis graduated from the U.S. Naval Academy. In Honolulu, he met a blue-eyed beauty who would become his partner in a lifelong marriage lasting 63 years. Together, they experienced the joys and horrors of pre-war occupied China.

Later, on the morning of Dec. 7, 1941, they woke to the smoke-filled skies of Pearl Harbor. Otis raced to join his submarine and Anne was evacuated.

Most of the war years were spent apart as Otis served in submarines, eventually taking command of the U.S.S. Dace.

Meanwhile, Anne worked in the U.S. Naval Officer Procurement office in San Francisco.

In the postwar years, Otis continued in his Navy career, which lasted 30 years and included service in the Korean War.

Anne's time was filled with raising two children, fundraising for the Navy Relief Society, and caring for her mother.

After Otis retired from the Navy in 1966, the two hardy travelers crisscrossed Europe before settling in Coronado.

Life After War
The couple developed a keen enthusiasm for boating. From the construction of their first boat in 1955 until their health waned in the 1990s, they relished their time together at sea.

Otis earned his doctorate in international relations from the University of Southern California, while Anne, his untiring sidekick, typed his dissertation on an old-fashioned Underwood typewriter.

Anne created prize-winning oil paintings, taught art classes, and served as an officer in the Coronado Art Association and the Coronado Women's Club.

While planning their estate in 1994, Otis and Anne included a gift in their will that, two decades later, would lead to an endowed scholarship benefitting University of San Diego students for generations.

Otis and Anne established a charitable remainder annuity trust, which paid them a fixed amount each year for the remainder of their lives and helped to fund their endowed scholarship.

Otis lost his life to Alzheimer's disease in 2001. Anne survived him by 11 years. Because of their planned gift, their love and connection to USD—where son Otis Robert Cole III '93 earned an IMBA—lives on.

The students who receive the Otis and Anne Cole Endowed Scholarship will forever be part of their amazing story.

Make a Difference at USD
The University of San Diego relies on generous supporters like Otis and Anne to continue to provide our students and faculty with nationally ranked educational opportunities.

Visit the University of San Diego online to learn how you can enjoy immediate tax benefits while positively impacting USD students.

Contact Erin Jones at (619) 260-4523 or for personalized giving information.

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Planned Giving
Degheri Alumni Center 206
5998 Alcalá Park
San Diego, CA 92110

Phone: (619) 260-4523
Fax: (619) 260-4621

A charitable bequest is one or two sentences in your will or living trust that leave to the University of San Diego a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the University of San Diego, a nonprofit corporation currently located at 5998 Alcala Park, San Diego, California, 92110-2492, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to USD or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to USD as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to USD as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and USD where you agree to make a gift to USD and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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