The Value of a Gift Annuity

Most recently, he has discovered the value of a gift annuity. In September, 2003, he made such a gift to PNRI in memory of Alma Sackett, his wife of 54 years. The gift contributes significant financial support to the Institute's diabetes and cancer research. It also generates more income for Louis in the meantime too.

Sackett went to sea at 18, served in the Naval Reserve in Korea, married Alma in 1949, attended navigation school, and became a seaman with the Alaska Steamship Company. For twenty years, he honed his skills with radar, gyro compasses, and sextants, then joined the prestigious Puget Sound Pilots Association to steer great merchant ships to port through Northwest waters.

Now retired, Louis divides his time between Edmonds and his farm on the Stillaguamish River, where he raises cows and bees. He also flies a private plane, enjoying still the challenge and thrill of precise navigation.

But one thing he recently found difficult to steer well was his investment portfolio. "Some of my money," Louis says, "was earning only 1 and 2 percent." He learned that he could take some of that money and establish a charitable gift annuity, increasing the earning potential of his investments to more than 7 percent.

"The gift annuity provides me with additional income," Louis says, "while also supporting diabetes and cancer research. That's what Alma and I decided we wanted. This tool allows us to do it." For more information on gift annuities, contact Linda Bonomi, Director of Development at (206) 726-1203 or at lbonomi@pnri.org.