"Except for my father, Russell Kettell had more influence on the course of my life than any other person," says Jeremiah Farrington '37.
"I was a naive youngster from Meadville, Pennsylvania when I arrived at Middlesex. Kettell took me under his wing, and enriched my life in the process. To a love of books that I brought with me, he added a deep and lifelong interest in design, American Colonial furniture, and the arts. His teaching collection of prints and drawings inspired my own modest collecting in the visual arts, especially the graphic arts, and thus has been directly responsible for over seventy years of enjoyment of beautiful things. I can never repay Kettell, or Middlesex, for these gifts."
Farrington spent 33 years in university administration and part-time teaching at Princeton before retiring to the North Carolina mountains. Several years ago, after retirement, he decided to endow a fund to provide faculty support in the memory of and in honor of Russell Kettell, and implemented this by a substantial bequest to Middlesex in his will.
Desiring to ensure financial stability for his and his wife's retirement years, and with the help of Middlesex Development Office, Farrington has anticipated a portion of this bequest by establishing a Charitable Remainder Trust that pays him and his wife an income during their lifetimes. "We received substantial tax benefits at the time of the gift, together with a very good rate of return, and it pleases me to think that I have begun to say 'thank you' to my great mentor, Russ Kettell. It is a win-win situation. And the money is well managed, both for the school and for me", he adds.
Information contained herein was accurate at the time of posting. 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. California residents: 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. Oklahoma residents: 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. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.