Lifetime of Service Leads to a Life Changing Scholarship
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.
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The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
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