“Giving Back to Yale Just Feels Right”
Carol and Stephen ’67 M.D. Schimpff enjoyed their home in Columbia, Maryland, for almost forty years. Nestled among trees and near a lake, it was located about halfway between Washington and Baltimore, where Dr. Schimpff served as chief operating o∞cer of the University of Maryland Medical System and later as chief executive o∞cer of its flagship medical center.
Carol, an architect, had upgraded the home’s mid-twentieth-century design, and the Schimpffs were conﬁdent it would sell quickly when the time came to move. When they decided to relocate to a nearby retirement community in 2015, however, their ﬁrst call was not to a realtor, but to Yale. Several years earlier, Steve and Carol had learned about the beneﬁts of a Yale charitable gift annuity, which, in exchange for their gift of appreciated securities, provided the couple with secure, stable payments for life.
After talking it over with their family, the Schimpffs decided to make a gift of a portion of the value of their home to fund another charitable gift annuity. Just as they had with their gift of stock, the couple saved on taxes and receive a steady income stream. Eventually, this gift, together with their additional charitable gift annuities, will create the Carol R. and Stephen C. Schimpff Scholarship Fund at Yale School of Medicine.
During Steve’s medical school years and residency at Yale, Carol worked as a research assistant in the department of medicine. Both enjoyed their early years together in New Haven. “Carol and I wanted to do something for Yale and at the same time have the beneﬁts of the lifetime income and tax savings that our gift annuities offer,” says Dr. Schimpff. “Yale provided a great education in a supportive setting; it gave us our start. Giving back to Yale just feels right.”