Ken Weg, a retired vice chairman of Bristol Myers Squibb Company and 1960 alumnus of Dartmouth College, has both a professional and personal interest in cancer: he’s spent his career focused on cancer therapy research and development, and he’s twice been successfully treated for non-Hodgkins lymphoma. So years ago, he and his wife, Carol, decided to direct their philanthropy almost exclusively to cancer genetics research.
Among their favorite organizations to support is Norris Cotton Cancer Center, a research and patient care institution operated jointly by Dartmouth’s Geisel School of Medicine and Dartmouth-Hitchcock. Recently, when the couple began exploring ways to leave a legacy and make a lasting impact on cancer research at Dartmouth, they were looking for ideas to help them make the level of gift they wanted to.
They were happy to learn that there was a way—a donor-advised fund invested within the Dartmouth College endowment. In fact, they discovered they could do much, much more than they expected. As a result, they are funding the Kenneth E. and Carol L. Weg Distinguished Professorship to support teaching and research in cancer at the Geisel School of Medicine.
“Carol and I really liked the concept. It allowed us to fund a distinguished professorship in our lifetime,” says Ken. The Wegs’ donor-advised fund is managed by the Dartmouth College endowment’s 13 world-class investment advisors, who oversee an impressive investment portfolio. Over the past 20 years, the Dartmouth endowment has earned an average annualized return of 10.3 percent.
“Once you establish the fund, you can continue to add to it over time, to reach your goal,” adds Ken. “Given the positive direction of the markets currently, these funds are particularly attractive. You can get great growth in what you have put into the fund, an immediate tax deduction for your gifts, and it can end up making a sizable, and meaningful, contribution to the college.”
“Donor-advised funds are a great opportunity that gives you the financial flexibility to make your gift and do it prudently—and to leave the kind of legacy you desire.”
—Ken Weg, Dartmouth College Class of 1960