ONE IN A MILLION: Krauses' Irrevocable Bequest Helps Build a Lasting Legacy at USD
To know Jim Krause, '75, is to know a man who is an all-too-rare combination of ambition and morality. His work ethic and attention to detail are matched only by his commitment to family, faith and community. You might say he's one in a million.
From the courthouse to the classroom, these impressive personal attributes have paved a path to success for the 58-year-old class-action attorney and adjunct professor at the University of San Diego School of Law. Krause was recently asked to recall the events that led him to his current station in life, and he couldn't help but smile as he harkened back to his childhood years in the small, blue-collar town of Salem, N.J.
"I came from a faith-minded family in Southern New Jersey, and we worked hard for everything we had," he explained. "As a member of the Methodist Church, it was ingrained in me at an early age to not only work hard, but to also be charitable and mindful of those who need your help."
In the years since, Krause has heeded that call to compassionate service in myriad ways, including the establishment of a $1 million irrevocable bequest on behalf of he and his wife Gale Krause to the USD School of Law, where he graduated magnum cum laude in 1975.
"My wife, Gale, and I have been actively involved in charitable campaigns for the university for some time now, and we were excited and pleased to help support the school of law with this gift. I really enjoyed my time (in law school), and, since USD is doing so well right now, I wanted to make sure that I could help provide students the opportunity for continued growth and development."
According to Senior Director of Planned Giving John Phillips, an irrevocable bequest benefits both donor and university in that, "it provides the donor with immediate recognition from the university, as well as enhances the university's financial portfolio by claiming a percentage of the bequest as a fixed asset."
Over the past three decades, Krause has compiled an impressive record of success in class action, antitrust, commodities and securities litigation. In fact, one could certainly forgive him if he chose to rest on his considerable legal laurels. Fortunately for the students of the USD School of Law, idleness is not a part of Krause's make-up, and he prefers to spend his time away from the courtroom teaching a securities litigation course here at Alcalá Park.
"I love the intellectual side of it," Krause said. "Discussing issues and problems, and trying to find solutions within the context of the law.
"Securities law is especially interesting to me because it follows all things Wall Street. You're very aware of the current business climate, and I think it helps our students become more specialized in the types of law they practice."
To call Krause an active alumni would be an understatement. In addition to his considerable financial contributions and teaching responsibilities, he has served as chairman of the School of Law's Board of Visitors, an advisory and support group dedicated to the school's advancement as a leading center of legal education and scholarship. He is also a former president of the law school's alumni association, and received the school's Distinguished Alumni Award in 2005.
While he has been active in a variety of charitable organizations throughout the greater San Diego area, Krause has been especially impressed by the level of gratitude he has received from members of the Torero community.
"As the years have gone on, I find myself growing closer and closer with USD," he said, "simply because the people here seem to really enjoy what they do."
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