Giving K a Home: Ruth Demme Hayes '37 and Allen Hayes '35
NOTE: This article appeared in an earlier issue of the Beacon. Sadly, Ruth Demme Hayes has since passed away.
For many years, Ruth Hayes and her late husband, Allen, migrated between their house in Winter Haven, Fla., and their A-frame cabin overlooking Lake Michigan.
"We always loved the beach," says Ruth, reflecting on time spent there. When Allen retired in the early 1980s, they built the cabin in South Haven where Ruth grew up. They enjoyed socializing with friends in the area, attending the theatre in Kalamazoo and Holland, and raking the leaves on the bluff.
When a decision was made to live year-round in Florida, they knew it was time to determine what to do with the cottage. They wanted to consider an option besides selling the property themselves and incurring capital gains taxes, so they turned to K.
"We gave our cabin to Kalamazoo College to create a charitable gift annuity and in turn receive income four times a year." The remainder of the annuity will support the College after Ruth's lifetime. Through this thoughtful gift, Ruth and Allen became members of the Stetson Society.
Ruth credits her husband's degree from Kalamazoo College as a key factor in his ability to find a good job after World War II. He held the position of traffic engineer for the City of Lansing for 23 years before he retired. "K always had quite a reputation," Ruth explains, "and we want to see it last." After her husband's death, Ruth moved back to Michigan where she enjoyed coming back to campus for Stetson Society events and other celebrations. She remains a true friend of the College and has the satisfaction of knowing that she and her husband will continue to make K a better place in the future.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.