Contact: Dale Dombrowski
John and Margaret Johnson
A deferred gift of more than $2.1 million from a Starkville alumnus and his family will provide scholarships for Mississippi State athletes majoring in education.
John M. Johnson, a 1954 MSU agriculture education graduate, is the retired general manager of the former Holiday Inn property in Starkville. The Choctaw County native said he long has appreciated the impact of education and wants his gift to benefit future teaching professionals and Mississippi's state residents.
"Mississippi needs more quality teachers and I hope this is a way to encourage and help student athletes stay in our state," he said. "I believe having an educated population is the key to our future."
The deferred gift from the John M. Johnson Family Charitable Remainder Annuity Trust will provide scholarships for students in any sport.
"My wish is for the scholarships to equally benefit men and women student athletes majoring in education," Johnson said.
MSU President Malcolm Portera praised the much-needed support for student scholarships.
"The Johnson family gift will provide men and women in all sports added assistance to pursue careers as the future educators and coaches in Mississippi," Portera said.
Richard Armstrong, the MSU Foundation's director for planned giving, said deferred gifts have both immediate and lifetime benefits to donors.
"By making a deferred gift in this manner, capital gains are bypassed on the gift of appreciated stock," Armstrong explained. "Donors receive an income tax charitable deduction based on a percentage of the value of the stock transferred to the trust, a payment of income from the trust during their lifetimes and a reduction in the size of the taxable estate. The university receives the trust's principal upon the passing of the donors."