The Gift That Keeps Giving
Remember 1983? It was the year that McDonald’s introduced the world to the McNugget. Bjorn Borg retired from tennis that year after winning his fifth consecutive Wimbledon. Ronald Reagan released global positioning system (GPS) technology to the civilian world.
It was also the year that Roy and Frances Kettelhut did something extraordinary for generations of NNU students to come. In 1983 the Kettelhuts sold some investment properties and reinvested some of those proceeds in an NNU annuity. In doing so they were able to reduce their tax liability from the sale of property and help one of their favorite charities.
Roy and Frances met and began their lives together on the campus of NNU. Perhaps this was why he became one of the University’s biggest fans, encouraging countless young men and women to consider attending NNU. They enjoyed a wonderful life together and raised a family of three girls, who all attended NNU. Roy and Frances both went home to be with the Lord in 2010, but their legacy in Nampa, Idaho, will continue in perpetuity.
The annuity they signed with Dr. Gordon Wetmore, NNU’s president at the time, was begun with $500,000 and paid 6% interest for both their lives. The Kettelhuts received a nice income-tax deduction in 1983 and appreciated the tax- favored income. At the time Roy passed away, just shortly after Frances, his beloved wife of nearly 67 years, they had received just short of $800,000 during their lives from that NNU annuity. But what I’m sure would be more satisfying now for Roy and Frances is knowing that nearly $700,000 was left in that annuity to be used for furthering NNU’s mission.
Now, with the Kettelhut Family Scholarship in place and benefiting students each year going forward, the gift Roy and Frances made in 1983 through the NNU annuity is truly the gift that keeps on giving.
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