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Business, Computer Science Students Benefit

Business, Computer Science Students Benefit
With three small children in tow, Jack and Virginia Sexton came to San Bernardino in 1960 to pursue an opportunity in the equipment rental business. Thirty-six years later, after selling their business, they moved to La Jolla to be near their children and grandchildren. As their business grew, they contributed generously to the city. Before they retired, they transferred stocks into a newly created charitable remainder annuity trust, naming Cal State San Bernardino as one of the beneficiaries. Charitable remainder annuity trusts provide a tax deduction at inception and a lifetime income which is partially tax free. "San Bernardino was good to us, so we wanted to be good to San Bernardino," Jack says. Their gift supports the computer science department and computer information systems. The couple has been so impressed with the results that they wonder why more people don't take advantage of setting up such a trust.

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