Ray ('49) and Dottie ('48) Joyce
Ray ('49) and Dottie ('48) Joyce parlayed their degrees from CU Boulder's Leeds School of Business into successful careers in the retail grocery industry, and they wanted to see their entrepreneurial values advanced at their alma mater. Already having supported a business plan competition at the school, the couple in 2003 decided to endow a chair in entrepreneurial finance at the Leeds School.
Though they originally planned to fund this chair through a bequest, they were able to begin funding it sooner through the use of two charitable lead annuity trusts. The Joyces placed two investment properties into these trusts. The income streams from these properties have flowed directly to fund this chair at the Leeds School and the trust assets will eventually be distributed to the Joyce children as remainder beneficiaries of the trusts. This strategy afforded the family significant estate and gift tax savings.