Leave a Legacy That Reflects Your Values
Journalist Scott Fagerstrom '77 invests in future storytellers
"If there is a better deal out there, I’d sure like to know about it."
That is how Scott Fagerstrom '77 describes the Charitable Gift Annuity (CGA) he established with The Foundation for WWU & Alumni. As a journalist nearing retirement, Scott wanted steady income and a way to give back to the department that launched his career. The CGA met both goals. It provides him with predictable payments, and the remainder will one day support Western students.
A CGA is a straightforward arrangement. A donor makes a gift and receives an immediate tax deduction. The Foundation provides fixed payments for life to the donor or a loved one. When those payments end, the remaining funds support Western students and programs. Many donors also value the immediate charitable tax deduction that may be available in the year they establish the gift. Others appreciate the clarity it brings to their long-term planning.
Scott knows the power of clear, ethical communication. He built a life around it. After graduating from Western with a B.A. in Journalism, he worked in media, lived and reported in China, and stayed closely connected to the craft. He returned to campus as a visiting professional in 2013, sharing lessons from the field. He also remained in touch with Journalism Professor Peggy Watt '78 and alumna Patricia Dunn, friendships that kept him connected to Western and to the next generation of storytellers.
Scott says WWU gave him his first big taste of the wider world.
“Western broadened my horizons so much that I finished off my senior year in the Middle East, completing a thesis on the subject of ‘Objectivity in the Israeli media’” he said. “Western made me a citizen of the world, and hopefully, this scholarship will help transform the lives of future Western students in similar ways.”
Scott’s giving reflects two convictions: first, that journalism matters because it speaks truth to power; and second, that international experience expands a student’s view of the world and deepens their reporting. Those beliefs have shaped a plan that supports students from their first step at Western through the moment they board a plane to study abroad.
This year Scott established a deferred $100,000 CGA with the Foundation that will begin providing Scott with a guaranteed income stream in a few years. This is not his first planned gift. In 2015 he established an initial deferred CGA of about $25,000, with payments beginning in 2020. By deferring the start of the income payments back to him, Scott enjoys a higher rate of return than he would have had the payments begun immediately upon the CGAs’ creation. He has also documented his future intentions through an estate gift that he estimates at $500,000. Together, those commitments will be split evenly between two funds that carry his name:
- Scott Fagerstrom Recruitment Scholarship
A ten-year term endowment that helps Western recruit promising new students to journalism and communication studies. It creates an on-ramp for talented students who might otherwise hesitate because of cost.
- Scott Fagerstrom Study Abroad Endowment
A permanent endowment that supports journalism and communication studies students who pursue approved, credit-bearing study abroad programs. It turns curiosity into real travel and study, which is exactly what Scott hopes to encourage.
For Scott, the CGA is also a smart retirement tool. He likes the projected 7.7 percent payout he will receive and the peace of mind that comes with a fixed payment for life. Just as important, he knows that the remainder will go to work at Western. "The CGA is a great deal for me as I near retirement," he says. "With a projected 7.7 percent interest, if there is a better deal out there, I’d sure like to know about it." Because a significant portion of the income stream is tax-free, the effective payout rate is even higher – over 10 percent.
Scott’s path offers a clear model for alumni and friends who want to align their values with their philanthropy. Start with what you care about most. Choose tools that support your financial, personal, and philanthropic goals and provide the stability you need. Then direct the impact to students and programs that reflect your vision for Western’s future. Some donors create a CGA to secure an income stream and a future gift. Others make current gifts to scholarships or endowments that begin helping students right away. Many do both.
Scott gives because he believes in students who are ready to ask good questions and tell the stories that matter. He also believes those students should have the chance to see more of the world. With his support, more of them will arrive at Western ready to learn, travel with purpose, and graduate with both skill and perspective.
If you are curious about how a CGA or other planned gift might work for you, we would be honored to talk. Planned giving can help you meet your financial goals and create a legacy that reflects your values at Western Washington University.
To learn more, visit wwulegacy.org or contact Matthew Hammatt, J.D., Senior Director for Planned Giving, at 360-650-2443.
This information is for educational purposes only. Please consult your financial, tax, or legal advisors to determine what is right for your situation. Rates and benefits depend on many factors and may change.
