John Waterbury’s Gifts Honor His Dad and the Institute Where He “Grew Up”
John Waterbury’s father was the treasurer of The Franklin Institute in the 1950s and ’60s, and John says he “basically grew up at the Institute.” He became a member at 16 and maintained his membership even after he moved to New Hampshire. As a retiree, John visits as often as possible with his sister who still lives in the Philadelphia area. Now he has funded a charitable gift annuity with the Institute that pays him income for life, with the remainder to go to the Institute.
“I get a lot of satisfaction knowing that I am making it possible for others to experience some of the things that have meant so much to me,” John says.
John explains his reason for choosing a gift annuity: “I was looking for an income stream where I could get a tax advantage for some appreciated common stock.” By funding an annuity with appreciated stock, donors can avoid paying capital-gains tax.
John began accelerating his support for the Institute in 2014, when the Karabots Pavilion opened and donors were given the opportunity to buy a tribute tile along the walkway.
“I decided to honor my father, Cecil Waterbury, who had been the treasurer,” John said. “In the summer I would go to work with him and spend the day prowling through the museum. Purchasing a tile opened a dialogue with the development staff, who were curious about the connection to someone from New Hampshire. Daniele Greiner (major gifts officer) gave my sister and me a tour of the offices where our father used to work. This resulted in me upgrading my membership to the Benefactor level.”
Now retired from his career as a systems analyst/programmer in the life insurance industry, John has more time to visit—including attending opening galas for new exhibits. He concluded, “I can’t think of a place that does a better job of encouraging visitors to learn more about the world around us.”
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