For This Alum, Loyalty Is the Name of the Game

Boston Red Sox aficionados of a certain age know that there are two kinds of fans: those who have supported the team through decades of thick and plenty of thin—and those who have cheered for them ever since they won the 2004 World Series. Jeff Scruggs AB '85, MBA '91 is—proudly—the former.

Scruggs's devotion is evident in his Manhattan office, which he calls a "Red Sox shrine." It is brimming with all sorts of souvenirs and Fenway Park paraphernalia. His loyalties extend to his alma mater, too. For years, he and his wife, Robbin Mitchell MBA '92, have given generously to Harvard in various ways. Most recently, they established deferred gift annuities. These will provide the Scruggses and their beneficiaries with quarterly payments that will begin in the future. The deferral is advantageous because it increases their current income tax deduction and the level of future payments. A managing director at Goldman Sachs, Scruggs naturally thinks ahead when it comes to finances. As he explains, the deferred gift annuity is well aligned with his long-term goals. "We don't need any return on the money until I'm of retirement age. So we deferred payment until then and kept contributing—which means that the returns we'll be receiving keep increasing. This also enabled us to give money that would be used both immediately and over time."

For Scruggs, supporting Harvard's immediate needs is also important. "I'm a big believer in making sure that the College is always sufficiently funded—not only to pay the heat, light, and electricity—but to provide need-based scholarships. We would have to be blind not to understand what’s happened to the endowment and that it has to be built back up again. It all, in my opinion, goes fundamentally to the same place. It goes toward enhancing the College, making sure its educational efforts remain first-rate."

Scruggs's grandfather attended Harvard, as did his parents and wife. He sums up his allegiance this way: "I come from a Harvard family. We've always had the belief that the University served us very well and we have to return the favor. So that's one of the reasons why I remain very loyal."