Issue:
April 2010
CC Receives $2 Million for Unrestricted Financial Aid
Colorado College has received more than $2.3 million from the James W. Austin Charitable Remainder Unitrust, which will go toward a scholarship fund providing unrestricted financial aid. The gift originally was made in May 1993 by James Austin ’29, and remains the single largest life income gift in the history of Colorado College. The funds establish the James W. and Esther Austin Scholarship Fund, in memory of Austin and his wife. Austin’s initial gift was $2,173,259, establishing a Charitable Remainder Annuity Trust. Austin received payments from his unitrust until his death in 1997. Payments then went to two successor beneficiaries, the second of whom died in August 2009. The remaining…Read more