The Johnson School Annual Report 2007–2008 - Johnson Graduate ...

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Estate Planning: Investing in the endowment THE JOHNSON SCHOOL ANNUAL REPORT 2007–08 10 Bell Fund Supports Dean’s Initiatives As chairman of a small family business, Bell-Memphis, Inc., Roy E. Bell Jr., MBA ’50, is well aware of how opportunities and challenges can arise that incur expenses outside an organization’s budget. So, he established the Roy E. Bell Jr. Dean’s Discretionary Fund to give the Johnson School dean the flexibility to support activities that will benefit the school. In this way, Bell is able to support the school’s efforts to recruit the best faculty and students and fund research and programs that will enhance the quality of education there. The Bell Fund is dedicated to the memory of Paul O’Leary, the founding dean of the Johnson School. “He was a longtime faculty member who had been interested in the idea of starting a graduate school in business for a number of years,” says Bell, “With President [Edmund] Day’s encouragement, O’Leary was able to put together this program and recruit an outstanding faculty from the beginning.” Bell is especially pleased with the instrument used to create the fund: a charitable gift annuity. “Another reason for doing the gift is the income for life for me and my wife, which is good as we live longer these days,” says Bell. “The rate of return stacks up well with optional annuity investments. And because it’s a charitable classification, there are significant deductions on your income tax. I felt it was an opportunity not only to do something for the Johnson School, but for my wife and myself and our financial planning.” An “Elegant Solution” to Giving The IRS recently granted Cornell University permission to invest charitable remainder trusts in its endowment, currently valued at over $5.3 billion. Jack Neafsey ’62, MBA ’63, was among the first alumni to take advantage of this new option, which he calls “a very elegant solution” to the question of how to give to the university. “There are many of us who worked for several different companies and ended our careers in a very satisfactory position, but perhaps did not have a pension,” Neafsey explains. “The endowment strategy is extraordinarily helpful in that it ensures that there will be a rather robust lifetime income, not just for me but for my wife, and she doesn’t have “It’s always been my intention that my money would go to Cornell at the end of the day. This is a nice interim step.” to worry about how it’s going to be invested or who’s going to do it. She’ll receive a stream of funds coming from Cornell that she can depend on.” In addition, “it’s a chance to avail myself of investment returns that as an individual investor I don’t have access to— the hedge fund world, the real estate world,” says Neafsey, who is president of JN Associates, an investment consulting firm in Norwalk, Conn. “It’s always been my intention that
my money would go to Cornell at the end of the day. This is a nice interim step.” Neafsey has been generous with time as well as gifts, serving on the Board of Trustees and the Johnson School’s advisory council. An engineering student as an undergraduate, he has directed that his latest gift be used to create closer connections between the College of Engineering and the Johnson School. “Engineering can benefit from the business acumen that resides at the Johnson School,” he says, “and the Johnson School can benefit from some of the quantitative technologies that reside at the engineering school.” THE JOHNSON SCHOOL ANNUAL REPORT 2007–08 11
Page 1 and 2: The Johnson School Annual Report 20
Page 3 and 4: Message from the Dean As the Anne a
Page 5 and 6: As a student at the Johnson School,
Page 7 and 8: Fellowships and Scholarships: Putti
Page 9 and 10: Class of 2004 Gift Creates Scholars
Page 11: and he helped translate that love i
Page 15 and 16: Alumni Award Winners Samuel C. John
Page 17 and 18: Park Fellow Advances His Knowledge
Page 19 and 20: Executive MBA Globe Award for Teach
Page 21 and 22: • The Johnson School was recogniz
Page 23 and 24: Financial Review 2007-2008 Year in
Page 25 and 26: Admissions Stats for All Programs E
Page 27 and 28: Simon Krieger ’76, MBA ’77 & Ro
Page 29 and 30: Elizabeth J. Ford, MBA ’86, JD
Page 31 and 32: David M. Behrmann, MBA ’87 Louise
Page 33 and 34: Kunyu Ken Wang, MBA ’07 Frederick
Page 35 and 36: Professorships Record for Number of
Page 37 and 38: Class Honor Rolls Reunion Classes C
Page 39 and 40: Elaine B. Haffey Joseph Cherian, Ph
Page 41 and 42: Class of 1957 $54,560 in gifts 31%
Page 43 and 44: Leslie C. Vinney Mark L. Mallon Wil
Page 45 and 46: Glenn M. Pfeiffer Austin R. Kessler
Page 47 and 48: David M. Behrmann Michael H. Baer G
Page 49 and 50: Timothy Louis Mould Catherine Coluz
Page 51 and 52: David Glen Edington Erin Edwards Je
Page 53 and 54: Paige H. Peters Bradley Dale Chartr
Page 55 and 56: MBA Class of 2008 Half Century Club
Page 57 and 58: EMBA Class of 2008 Cornell-Queen’
Page 59 and 60: Matching Gift Companies Accenture F
Page 61 and 62: Dan Henson, chief marketing offi ce
Page 63 and 64:
Albert Fried Jr. ’52, MBA ’53 +
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