Alum Creates Legacy Using Life Insurance Policy
As a first-generation graduate of the University of Houston, Jim Culpepper (’67) understands the critical importance, in these days of increasing financial disparity, of giving back. He has been a longtime supporter of UH, contributing significantly for years to the College of Engineering, Athletics and seven other colleges and units as well as establishing the Lana A. Culpepper Tier One Scholarship in memory of his late wife, who passed in 2006.
“My family has always been mindful of helping people; maybe not financially, but through good works. I want to continue to do the same,” says Jim, a practicing trial attorney in his native Houston, as he was driving to Fort Worth to visit his daughter Joanne, who worked a number of years as a licensed social worker at the Texas Medical Center. “I’ve been blessed with the resources to assist underprivileged and disadvantaged students from low income families. UH educates people and provides them the opportunity to lift themselves to a higher level. As long as they are willing to work hard, sacrifice and persevere, bright students with financial need deserve our support.”
Jim’s most recent area of support is the UH College of Medicine, the first class of which is scheduled to enroll in the fall of 2020. After purchasing a life insurance policy at age 65, Jim recognized that making a $2 million gift out of the cash value and benefits of the policy to UH’s gift planning department would provide long-term impact.
“I put a sum of money in the cash value of the policy as an investment when interest rates were 1%, or less. So a tax-free annual return of 5% was very attractive,” Jim says. “I had a chance to visit with Dean Spann recently and we both believe strongly that the UH College of Medicine has a unique opportunity to serve the health needs of the disadvantaged and train primary care doctors who can stay in the area and serve the communities where they grew up.”
The Culpepper family’s legacy of good works is epitomized by Jim’s support of UH students and programs that serve to energize his hometown. “UH provides the manpower, leadership and cutting-edge research that all great cities need to continue to grow. It’s an honor to support the young men and women who are Houston’s future,” he says.
Create a Family Tradition of Giving
Contact Andrea Olczak at 713-743-6313 or firstname.lastname@example.org to discuss ways that you and your family can recognize UHS with a future gift.
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