Lock Haven University issued the following announcement on Mar. 31.
BILL AND DIANE PYLE MEET RECIPIENT OF THE DANIEL PYLE MEMORIAL SCHOLARSHIP AT LHU'S JAMES C. REESER SCHOLARSHIP BRUNCH IN 2017.
Leaving a lasting impact on Lock Haven University ROTC students is something Bill and Diane Pyle have committed themselves to for nearly two decades.
Their son, Daniel, was a 21-year-old history major and ROTC cadet at LHU, when he tragically died in an automobile accident on Sept. 1, 2002.
At the time of his death, it was just one week into Daniel's junior year. Then-LHU president, Dr. Craig Willis, attempted to refund Daniel's tuition; instead, his parents opted to use the money to create The Daniel Pyle Memorial Scholarship.
Over the years, the Pyle's continued contributing to the scholarship to grow it to an endowment. Since its establishment, it has helped more than 15 Lock Haven University ROTC cadets earn their degrees, as well as their commissioning as an officer in the U.S. Army.
Bill and Diane wish they could support cadets anonymously. The meaningful relationships they've been able to build with cadets and their families in their son's honor is the only reason they choose not to.
As part of their estate planning, in 2010, the couple also made a gift to the Lock Haven University Foundation in the form of a charitable remainder unitrust (CRUT).
A CRUT is a great way for donors to make a major gift to the LHU Foundation, while providing a steady stream of income in the form of quarterly annuity payments to the donor(s) for the remainder of their lives.
Donating via CRUT provides givers an option of transferring cash, stocks, bonds or other assets to the LHU Foundation, with the Foundation becoming the beneficiary of the residual trust upon the donor's death.
When making a gift via CRUT, additional assets can also be contributed over time, providing donors an opportunity to increase the value of their annuity payments, while further amplifying the impact of their gift.
It's a win-win for all parties involved - most importantly, Lock Haven University students.
For Bill and Diane, the process of making a gift via CRUT was as simple as transferring stock certificates. There was no need for a written will, involvement of an estate executor or lawyer was unnecessary, there was no probate cost, nor was an inheritance tax levied.
"Making a gift through a unitrust is truly a win-win for all," Bill said. "The greatest gift of all, however, is that even after our deaths, LHU students will continue to benefit. We are grateful that the Lock Haven University Foundation has partnered with us to leave a lasting legacy of generosity."
Each year, the Pyle's graciously attend LHU's James C. Reeser Scholarship Brunch where they have the joy of meeting their scholarship recipients. At the 2018 ceremony, they received LHU's Philanthropy Award in recognition of their years of selfless dedication to ROTC students.
"We have received far more from LHU than we have given," Bill said. "If Daniel were alive, we would be the proud parents of an Army officer. Because of the scholarship in his name, we are now proud to be a part of helping many LHU students become Army officers."
"The joy of being a giver is real," Diane added. "If people have the ability to be generous and still choose not to, they are truly robbing themselves of something very special."
Original source can be found here.
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