Trevecca Nazarene University is pleased to announce that its long-time supporters Gerald and Eileen Skinner have made a significant life gift. Ultimately, the gift will add funding to the Skinner Accounting Scholarship Endowment to bring its value to more than $1 million and also create a new endowment, the Skinner Needy Student Scholarship Fund, to assist students with significant financial need.
Dan Boone, president of Trevecca, thanked the Skinners and noted, “The Trevecca family is grateful for this magnificent gift made by Gerald and Eileen. Their generosity is helping to ensure that scholarship funds are available for Trevecca students now and in the future.”
During the lifetimes of the Skinners, this gift annuity will provide them a quarterly income, one which will remain steady and independent of fluctuations in the stock market. The Skinners funded the gift annuity with a piece of appreciated commercial property.
“The Skinner’s transference of appreciated property to the University is a very wise way to fund a gift. It allows a donor to make a significant gift, receive a charitable income tax deduction, and significantly reduce capital gains tax,” explained Peg Cooning, vice president for external relations.
In addition to the Skinner Accounting Scholarship Endowment, the Skinners previously established the Skinner Family Scholarship for students preparing for fulltime ministry. In the years since these two scholarships were established in the 1970s, hundreds of students have benefitted from the tuition funds awarded to them in the form of Skinner scholarships.
Gerald Skinner joined the Trevecca faculty in 1969 to start Trevecca’s Department of Business and serve as its chair. He resigned his position with Trevecca in 1986 in order to devote more time to the business he started; however, he continued to serve Trevecca in other capacities. Some of these highlights include serving as special adviser to Millard Reed during his Trevecca presidency; as chair of the university’s capital campaign (1997-2001) that raised $28.5 million to fund the Waggoner Library and Center for Instructional Technology; as the chair of the campaign (1997-1999) to raise $500,000 to start the Greathouse Scholarship Fund; and as a member and former chairman of the Trevecca Board of Trustees. In the fall of 2012, the School of Business and Technology was named in Gerald Skinner’s honor.
Throughout his career and work with Trevecca, Gerald Skinner has had the support and involvement of his wife Eileen. Trevecca appreciates the generosity of this dedicated couple.