When Ronald A. Walter SM ’72 and Marilyn Walter established a fellowship fund at the Harvard T.H. Chan School of Public Health, they opted to do so through a charitable remainder trust—a giving vehicle that allowed them to increase the size of their support, receive annual income during their lifetimes, and, most important to them, have a long-term impact on future generations of public health leaders.
“A charitable remainder trust really hit the sweet spot for us,” says Ronald Walter, who retired from Citigroup in 2003 after nearly 25 years with the firm. At the time of his retirement, he was head of the firm’s pension group. “Because of my job, I have spent a lot of time thinking about retirement planning. We felt this was the best way to put money aside that could support us while we’re still around but also create opportunities for outstanding young men and women. It’s exciting to think about the people who will one day benefit from this gift.”
“When it comes to charitable giving, we’re interested in organizations that have a direct impact on people who need help,” adds Marilyn Walter, professor of law emerita and director of the Legal Writing Program at Brooklyn Law School in New York. “There aren’t many organizations that can say they save lives, but the Harvard Chan School is doing exactly that around the world. We’ve talked to students who have been on the front lines of fighting Ebola and other diseases, and it’s so inspiring to see their dedication to humankind.”
After graduating from what was then known as Harvard School of Public Health with a master’s degree in health services administration, Ronald Walter enjoyed a long and successful career based in New York City. Prior to his tenure at Citigroup, he served as vice president of finance for New York Health and Hospital Corporation, as deputy chancellor for the New York City Board of Education, and as assistant to the mayor of New York. Before attending Harvard, he was an assistant professor of urban planning at MIT, where he received his undergraduate degree in 1965.
Walter says he has always felt a responsibility to give back to Harvard, noting that his “terrific experience” at the School of Public Health was made possible by a scholarship. As volunteers and members of the Harvard T.H. Chan School of Public Health Leadership Council, he and his wife have had the opportunity to engage with students and faculty at the School about their exciting work. The Walters were also able to learn more about how they could support the School’s highest priorities, including fellowships.
“Before we became so closely involved with the School, we didn’t see ourselves as able to do significant philanthropy,” Ronald Walter says. “But through planned giving, we realized that we could.”
“The planned gift model is a terrific one for many people,” he says. “I encourage others to consider making a planned gift. It’s a way of maintaining current income while providing funds that will have an impact far into the future. Harvard is an institution that can take a long view, and planned gifts really are an important way to help them do that.”
Contact University Planned Giving to learn more about establishing trusts.