Gift Annuity Provides Income and Enhances Scholarship Support

Al Nagy ’68 and his wife, Kathy

Though Al Nagy ’68 was accepted at several universities, he chose Denison.

“It was recommended by my high school track coach, and I wanted to attend a small liberal arts college,” he says. His years on The Hill created fond memories and strong bonds.

However, Nagy faced personal and financial hardship midway through his enrollment.

“My dad was battling cancer, which consumed my parents’ savings,” he says. Upon learning of his situation, the university offered him a scholarship.

“Why do I donate to Denison? Because Denison paid for my education,” Nagy says.

It was an early example of how generosity can transform grief. Throughout their lives, Nagy and his wife, Kathy, have allowed their experiences—including challenges—to fuel their philanthropy.

“There is a joy to giving while living, and experiencing its impact,” Nagy said.

When a classmate died prematurely in 2003, mutual friends including Nagy established The Larkin N. Allen Endowed Scholarship. Recently, Nagy made a significant donation to Denison utilizing a charitable gift annuity (CGA), designated to that fund.

CGAs provide an extra layer of security because donors receive annual payments in addition to satisfaction in knowing the gift will have a lasting impact. The Nagys decided to take advantage of this unique option, and the remainder of their gift will support future Denisonians.

“One of the reasons I’m comfortable doing this is because of the excellent job Denison has done managing the endowment,” Nagy says. “Suffering will happen. But by placing our hands in that stream of suffering, we can change its current and make life for others better.”