Capps' Real Estate Gift Will Support Education
"It's our responsibility to help tomorrow's leaders acquire the tools for success."
Roger '60 and Jan Capps believe it's critical to support the young people who will one day shape our city, state and region. That's why they made a gift of real estate to create a charitable remainder unitrust, naming Portland State University as the beneficiary.
After receiving his degree in Education at Portland State, Roger taught at several of Portland's inner city elementary schools - Boise, Irvington and Woodlawn - and saw first hand some of the challenges these elementary children face. He also witnessed the crucial role teachers play in these students' education. After a few years, Roger moved into administration and served the next 28 years as a principal in the North Clackamas School District. He retired in 1998. While Roger and his wife, Jan, looked forward to their retirement, they never forgot the needs of elementary school students in Portland's inner city.
Enjoying retirement for the Capps meant deciding they wanted to discontinue their landlord responsibilities with their duplex rental property. Selling the real estate, however, would involve paying high capital gains taxes. After talking to PSU's gift planning officer, Roger and Jan decided to give the duplex to the University. Following the sale of the property, the funds were used to create a charitable remainder unitrust, providing Roger and Jan with considerable tax advantages and a guaranteed lifetime income at an attractive interest rate.
Following the deaths of both Roger and Jan, the remaining principal of their trust will be used to provide financial aid to talented PSU elementary education students who plan to teach in Portland's inner city -- thus helping tomorrow's leaders acquire the tools for success.
In the meantime, the Capps' have begun awarding their scholarship "early" by giving a generous annual gift to PSU. This annual gift enables the University to award the scholarship immediately so Roger and Jan can meet their scholarship recipient. As Roger says, "What a thrill to meet 'our' student and to know how much this is helping him pursue his goal -- which is to teach in a Portland inner-city school!"
Through their gift of property and through their annual gifts, Roger and Jan Capps know that they are helping PSU to prepare future teachers who can make a difference in our schools - a difference which will help tomorrow's leaders acquire the tools for success.