Paynes Choose a Charitable Gift Annuity

Doug ’54 and Marion Payne

Doug and Marion Payne’s rural roots and education prepared them well for a life’s journey that would lead them around the world. The Paynes began a project several years ago to help celebrate the rural experience with today’s and tomorrow’s students at the University of Minnesota Morris.

They established the Douglas and Marion Payne Rural Students Scholarship Fund in 2004 to provide financial assistance to UMN Morris students with a preference for those from agricultural or rural backgrounds, or University of Minnesota students from throughout greater Minnesota and the Upper Midwest who wish to live and work in rural communities. They have supplemented the scholarship with additional gifts since that time.

Recently they made the next step in their project. Doug and Marion chose a charitable gift annuity (CGA) as the tool that will help them realize their goals at UMN Morris. The remainder of the CGA will be directed to their scholarship and deliver a huge impact for future students.

“The charitable gift annuity is a step forward in developing the project to support UMN Morris goals,” says Doug. “We looked at our situation and confirmed the CGA as the best method at this time to support the goals. This gift provides cash flow and tax benefits for donors and variable funding support for UMN Morris.”

Doug and Marion receive multiple benefits from a CGA. The donor and/or designee(s) receive an income supplement for life at attractive payout rates. A portion of the charitable gift also may be tax deductible. A portion of the annual payments will be tax-free. Individuals who donate long-term appreciated securities may get capital gains tax savings.

Rural setting painted by Marion Payne

Doug and Marion’s “growing up years” took place on west-central Minnesota farms. After attending rural grade schools, Marion graduated from Benson High School and Doug from the West Central School of Agriculture (WCSA), a University of Minnesota boarding high school that made its home on the Morris campus until 1963. Doug’s experience at the WCSA, with excellent instructors like Wesley Gray, provided a strong foundation in technical agriculture.

Doug’s father, Alvin ’31, was also a WCSA graduate along with both of his brothers. After serving abroad in the military, Doug attended the University of Minnesota on the GI Bill and completed a Bachelor of Science in agronomy in 1960. He was a founding member of the Delta Chapter of Delta Theta Sigma, a professional agriculture fraternity, and was elected to Alpha Zeta, an honorary agriculture fraternity.

With a successful agricultural education completed and an interest in foreign affairs and business piqued by military service abroad, the stage was set for Doug to begin a 35-year career with International Multifoods Corporation. He held top leadership roles for the corporation in Mexico, Venezuela, Canada and the U.S., specializing in the agricultural products division that includes livestock feed and poultry operations.

The Paynes, who make their home in Edina, are grateful for their rural backgrounds and for the role the University of Minnesota has played in their lives: “Our gifts to UMN Morris and our focus on rural students are based on our belief that well-prepared people will be needed to lead their rural communities. It is also in response to the eight years of preparation received from the University system, which made our life a reality.”

The University of Minnesota Morris is deeply grateful for their gifts.

Like Doug and Marion Payne, when you give to UMN Morris, you help students prepare to lead lives that give back to their communities. For more information, please contact Susan Schmidgall, CDO, at 320-589-6160 or sschmidg@morris.umn.edu.