A lasting investment in education

As Darryl Raszl, BA ’65 looks back on the direction his life has taken, there’s much to be proud of. A retired physician, Darryl led his medical practice as an internist for 29 years while building an impressive portfolio of properties in the San Francisco area with his husband, Stoner Lichty. And yet, for Raszl, there’s no question where his success began. 

“I was the first person in my family to go to college; UB opened me up to the possibility of moving into a profession,” says Raszl. “The University gave me the skills for a career and showed me how to channel my intellect and reason into something productive for society.”

This formative support is one of the reasons Raszl chose to give back to his alma mater through a series of charitable remainder unitrusts (CRUT), a gift plan that allows donors to transfer an asset into a trust that will provide them with income, typically for the rest of their life, while also supporting their favorite charitable initiatives.  This arrangement allows donors to avoid the capital gains tax they would typically be required to pay, thereby maximizing the value of their long-term investments. 

For Raszl and Lichty, the CRUTs they established through the sale of their real estate holdings has been mutually beneficial, allowing them to invest in one of their true passions as they continue to receive a negotiated sum of money quarterly. They credit the University staff for bringing this option to their attention and walking them through the process, allowing them to make the most of their contribution. 

“As we’ve gotten older, it’s been challenging to transition out of property management because we’re dependent on that income,” says Raszl. “Through this trust, we’re giving in a way that will continue to support us, while also contributing to a UB education, something that really served as the foundation for the rest of my life.” 

Allocating his funds to provide unrestricted support to the College of Arts and Sciences and the Department of Biological Sciences allows the dean and department chair to decide where Raszl’s support will have the greatest impact, making it possible for more students to experience a lifechanging education, just as he did, according to Raszl.

“The waste of a mind is a tragic thing,” he says. “By giving back, I hope I can provide someone the same opportunities that UB provided me.”  

--Meghan Goff, April 2021