Everyone who grows up in Texas knows that at some point, there comes a choice: Aggie or longhorn.
“Half my peers went one way, half the other, and for some reason I chose Aggie,” said Charles Manning ’82, who came to Texas A&M University in 1978 and graduated a year early with a degree in finance.
M. Ann and Charles Manning '82.
“I remember walking around campus, seeing names on buildings and reading about former student benefactors, and I vowed to myself that I would join their ranks if circumstances allowed,” he said.
Flash forward to today, where his promise is set to be fulfilled. In a tremendous philanthropic gesture, Charles and his wife Ann solidified a significant planned gift through the Texas A&M Foundation to benefit four Texas A&M entities: Mays Business School, the College of Agriculture and life Sciences, the College of Veterinary Medicine and Biomedical Sciences, and the 12th Man Foundation.
Thoughtful Planning
With hefty retirement accounts and no children, the Mannings wanted to plan for the final distribution of their estate in a tax-efficient way. They worked closely with their attorney, Amy Bloomquist ’83, to create a giving strategy that is now documented in their estate plan. In addition to a generous bequest planned in their living trust, they have named the Texas A&M Foundation as a beneficiary of their retirement accounts after their lifetimes.
“Retirement account assets are not very tax-friendly, so a planned gift was an easy decision,” said Charles. With both gifts, the Mannings will hold, manage, enjoy and continue to build their estate during their lifetimes, and Texas A&M will benefit greatly.
They designed all of their endowments to allow college deans maximum flexibility in the use of funds.
“I have no idea what the needs of each college will be in 20, 30 or 40 years, but I do trust that the deans will be good stewards of these funds,” said Charles, who chose each beneficiary with care.
Banking Reaps Benefits
Retired now and living in Austin, the Mannings enjoyed productive and fruitful careers. Charles worked in banking technology, writing software used by banks nationwide. Ann received a juris doctor degree from Ohio northern University and originally worked for a law practice.
A Spirit Worth Preserving
Mays Business School Dean Jerry Strawser says the Mannings’ gift will impact students in countless ways.
“With the flexibility they are allowing, it can support student scholarships, study abroad opportunities, student travel competitions and faculty teaching and research activities,” he said.
During a recent conversation, Dean Eleanor Green of the College of Veterinary Medicine and Biomedical Sciences told the Mannings that private gifts keep the spirit of Texas A&M a reality.
“She reminded us that cultures must be nurtured and that giving resources to the right people can generate a culture and spirit worth preserving,” said Charles.
By Dunae Crenwelge ’15
Texas A&M Foundation
The Texas A&M Foundation is a nonprofit organization that solicits and manages investments in academics and leadership programs to enhance Texas A&M’s capability to be among the best universities.
