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Carol Pearson

Carol Pearson has spent over 50 years making a difference at The Huntington. Since 1958, as a staff member, freelancer, and volunteer, Carol has had a hand in many activities, from cataloging rare books to editing indices for scholarly works—even proofreading the annual report. Her latest volunteer project is with the Botanical division, cataloguing 15 filing cabinets full of materials on organic gardening—12 down; 3 to go.

At the heart of her relationship with the Huntington is a keen love of books, fostered at an early age. After graduating from Swathmore College where she studied English literature, Carol and her first husband moved to Pasadena; her interests immediately drew her to The Huntington.

Her work led to many long-term relationships with scholars, including a particularly significant one with Caltech professor J. Kent Clark. She assisted Clark for many years with research and indexing on his books Goodwin Wharton and Whig's Progress: Tom Wharton Between Revolutions. In 1992, several years after the death of her first husband, Carol and Kent were married and had 16 wonderful years together before his death in 2008.

Carol has supported The Huntington as a member for more than five decades. Additionally, in 1999, she established a Charitable Gift Annuity, CGA which provides her with income during her lifetime and will ultimately benefits library acquisitions.

In 2007 Carol decided that she wanted to give even more. She thought of her vacation home in Lake Arrowhead and donated the property to The Huntington in the form of a Charitable Remainder Trust. She will be able to draw income from the gift for her lifetime, and will ultimately be used for maintenance of the fountains throughout the Huntington gardens.

Over fifty years of devotion to an institution would seem enough to satisfy anyone, but the love affair goes on, as Carol continues to make a difference. "It's been a lovely, lovely ride," she says. One which we hope will continue for many years to come.

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A charitable bequest is one or two sentences in your will or living trust that leave to The Huntington a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to The Huntington or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to The Huntington as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to The Huntington as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and The Huntington where you agree to make a gift to The Huntington and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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