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Heart and home
Bradley University has been a large part of the Davis family over the past four decades.
Dr. Jim Davis, a Peoria dentist, graduated in 1972. His wife, Susan, graduated a year later. They have also put two children through Bradley—Ryan is a 2003 graduate and Greg became an alumnus in 2007.
So when Jim and Susan decided they no longer needed the home near the campus they had purchased for Ryan and Greg to live in during their time at Bradley, they donated it to the university the family had come to know so well.
For their generous gift, they received a charitable gift annuity, which rewarded them with a significant tax deduction in 2007, the year the gift was made. It also guaranteed Jim and Susan a lifetime income at a fixed rate, which is based on their ages, for as long as either of them lives. In addition, a large portion of that income is tax-free, giving them another reward for their generous donation to Bradley.
"When the boys both left Bradley, there was really no reason to keep the house," Jim said. "We knew that we didn't really want to be in the college rental business, so when we discovered the option of giving the house to Bradley, it really seemed like a win-win situation—Bradley gets the house to use and we get the annuity."
The family also chose not to designate how the funds are to be used at the end of the contract, allowing the University to use the residual value where it is needed the most.
Jim left Bradley with a degree in biology before graduating from Southern Illinois University's Dental School in 1975 and opening his own dental practice in 1978. Susan graduated from Bradley Summa Cum Laude with a degree in Elementary Education before teaching at primary schools in Washington and Dunlap. She was a member of the Bradley Chorale and Sigma Kappa sorority. Jim was a member of Phi Kappa Tau fraternity.
Bradley is grateful for the support the Davis family has given to Bradley. After all, they've shared their hearts and their home.