Bruce and Sue Johnston Provide Charitable Gift Annuity

In spring 1990, Bruce Johnston (D-48) and his wife Sue honored Cal Maritime by making a living trust provision for the school in their wills. In July 2003, they again showed their strong support and dedication to Cal Maritime by establishing a $50,000 charitable gift annuity for the school.

“Cal Maritime gave me the necessary tools to succeed in many aspects of my life––in my years following a maritime career, as an officer in the US Navy and Naval Reserve Program, in business, and in my involvement in community service,” Johnston explained as the reason for their continued generosity. “These fundamentals taught and instilled in me contributed to many successes over the years. The annuity is our way of saying thank you and of helping the school now, when funds are so needed.”

Bruce added that he hoped other alumni would recognize the formative role Cal Maritime had played in their lives and follow suit.

A charitable gift annuity allows a donor to make an irrevocable gift in exchange for lifelong income payments. The annuity is a contract between the donor and the CSU Foundation in which the Foundation guarantees income payments from the annuity. Annuities have attractive features, depending on circumstances (age, etc.), and the income stream is sometimes higher than existing CD rates. There are often tax advantages as well.

For more information about donating charitable gifts in general, including gift annuities, access www.calstate.edu/DonorsGiving/PlannedGiving.shtml. Information can also be found at www.csum.edu by clicking on the “Alumni and Friends” link. You may also email or call Tony Macias, Cal Maritime’s Vice President of University Advancement, at tmacias@csum.edu or 707-654-1037.