Gift & Estate Planning
A Certain Symmetry
When Evey and John Schweig '76 decided to include Burroughs in their estate planning, it had everything to do with John's feelings toward the school and a little something to do with symmetry. "Burroughs is important to me," says John. "My friends from Chicago who are also in their fifties always seem a bit shocked that I'm still so connected to the people I went to high school with. I start describing it and they're like, 'Wow, I get it!' I think they're actually a little jealous!"
"Burroughs made a life-changing difference when I was there, and a significant difference throughout my life," John explains. "The way we structured our estate gift matches what Burroughs has done for me. There's a certain symmetry to it. I got a great education and friendships that made such a difference back then, and still make a difference in my life now. So, I wanted to give a gift that would have a positive impact on Burroughs now, and in the future. A planned gift fit the bill.
The Schweigs maximized their support for the Campaign for Burroughs through a legacy gift—half as an outright contribution and half through an insurance policy. "We decided to split it 50/50—current and deferred," explains John, "because I know that every institution has current needs as well as future needs. It's a terrific feeling to set aside something for an organization you feel so strongly about."
There were also financial benefits. "The insurance component was a turbo boost. It's amazing, the rate of return you can secure for Burroughs vs. the cost to you, the donor. Actually, I wish I'd done it ten years sooner. If I'd done it at forty-five, it would have been worth a lot more to Burroughs. I encourage anyone to consider making a planned gift to Burroughs at an age where it can make an even more significant difference for the school."
John and Evey have been loyal supporters of Burroughs for many years, contributing to the Annual Giving campaign every year since John graduated in 1976. "Burroughs was a magical place—a beautiful place. It was a joy to go to school there. When I reflect back, I think, 'Wow, that was incredible!'"
"Arriving in 7th grade, I remember the big, beautiful campus. I remember the assemblies. I remember having a wicked crush on a 12th grade girl!" Lifelong friendships that began at Burroughs also served as part of the motivation for John and Evey's gift. John has kept in close contact with several of his classmates, including Steve Maritz '76, and has served on the board at Maritz, Inc. for the past several years.
His relationships with faculty members also played a role in his decision. John came to St. Louis in 2009 for Skip Alverson's (History) memorial service, which was held in the original Haertter Hall. John says Alverson was an unforgettable figure in his life. "I remember one incident in particular. It was Christmas break when I was in 9th or 10th grade. He actually phoned me at home to tell me that I'd done a great job on a paper for his class. He was one heck of a teacher—but one tough guy. That call made a real impression on me, and his teaching made a lasting impression on me, too."
After retiring as a senior executive from W.W. Grainger, Inc., a Fortune 500 global leader in the distribution of maintenance and repair products, John joined private equity firm Snow Phipps Group in 2012 as an operating partner. In addition to his Maritz board membership, John is chairman of the board of Service Champ, and is on the advisory boards of Magid Glove & Safety, L.E.K. Consulting, and Rock Gate Partners. Prior to Grainger, John was a partner with global strategy consulting firm Bain & Company. He received his MBA from Harvard and bachelor's degrees in economics and mathematics from Colgate University.
John and Evey, who met while students at Colgate, are actively involved in several organizations. John is a member of the executive committee for the Northeast Illinois Council of the Boy Scouts of America and an advisory board member of the University of Wisconsin Business School. He has also been active with Chicago Youth Centers and the Josselyn Center for Mental Health. Evey is on the Women's Board of the Ravinia Festival, and on the board of the Glencoe Historical Society. John and Evey live in Glencoe, Illinois.
A Brighter Future for Burroughs
If you are interested in helping John Burroughs School strengthen and expand student resources, consider a planned, blended gift, like the Schweigs.
By establishing an endowed gift that benefits Burroughs, you would be creating a lasting legacy that will make a real difference now and after your lifetime—while also receiving tax benefits.
Please contact Ginger Imster at firstname.lastname@example.org or 314-993-4045, ext. 256 to learn more.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.