 |
Florence Murray advises her friends to invest in URI. She’s done it several times over the years, including a 2007 charitable annuity gift that will augment the scholarship fund she and her two children initiated when her husband, John J. Murray ’39, passed away in 1983.
After making a $30,000 gift in 2003, the 85-year-old Mrs. Murray gave the University another $42,645 in appreciated securities last November. Mrs. Murray receives two checks a year from her investment at 9.1 and 9.9 percent, respectively. Upon her passing, the remaining value of the gifts she has made will go to the University. She also avoids capital gains taxes and receives a charitable contribution tax deduction as well.
“My family has done well, so I can make this gift without feeling that I’m taking resources away from them,” said Mrs. Murray, who lives in Cumberland. “I think my husband would be happy to know we’re doing this.”
Florence’s son, John J. “Jack” Murray, is also a long time supporter of URI. A principal engineer with the DePuy division of the Johnson & Johnson Corporation, he graduated from the University in 1970 with a degree in mechanical engineering. As a child he saw his father give time and money to URI, but “I didn’t really appreciate what he was doing until some time after I graduated. I’ve just followed his direction.”
The late Mr. Murray, who studied chemistry at URI, founded a family business in northern Rhode Island, Manville Machine Works. Mrs. Murray served as comptroller, and Jack worked there as a student. “My husband always said he wouldn’t be where he was if it weren’t for URI, so he believed he should give back,” Mrs. Murray said. “My son got a great education at URI. With the high cost of education today, I think it’s so important to help as much as you can.
“I came from a big family and didn’t get a chance to go to college, so I know how important it is. My family has done very well. I can thank URI for a lot of that.”
Office of Gift Planning, URI Foundation, 79 Upper College Road, Kingston, RI 02881-2004
http://www.urifoundation.org | Donna-Jean Rainville: 401.874.2296 djrainville@foundation.uri.edu
