An upcoming 50th class reunion often inspires nostalgia. For Lou Schroeter ’69, it inspired something even better: philanthropy.
“Peddie has never left my mind,” said Lou. “I had decided to give Peddie the bulk of my estate prior to the 50th. It was a catalyst.”
Lou is creating a blended gift that he can guide during his lifetime. Entirely from his IRA, it will give Peddie annual distributions once he reaches age 70 1/2. The remaining funds will go toward a Peddie scholarship fund as a planned gift.
“Philanthropy at Peddie has become a whole culture. It’s the way it should be,” he said. “It’s just a wonderful thing. With Peddie, it’s almost like the grassroots way — with a down payment by Walter Annenberg. Just to help good people get to Peddie.”
Lou hopes others will design a planned gift of their own to Peddie to nurture and help develop. “Can my experience prompt someone else?” he said. “None of us can really see what tomorrow’s going to be like. But I know it’s going to be good.”