About 20 years ago, a good friend of Jim and Mary Jane Limp created an endowment that would fund a four-year college scholarship after his death. This got the couple talking. Jim, who earned his bachelor’s degree in chemistry from Purdue in 1951, was already retired from a 36-year career with Eli Lilly & Co. He and Mary Jane began to ask
each other, “Do you think we’ll be able to do something like this for Purdue sometime in the future?” “Fortunately, the 1990s were very strong years for the stock market, so our investments experienced excellent growth,” Jim notes. “Early in 1999 we started working with financial planners to explore options that might make sense for us.” They decided to establish a charitable remainder trust with Eli Lilly stock, which will eventually fund the Jim and Mary Jane Limp Science Scholarship. The trust also provides income to the couple during their lifetime. “Mary Jane and I realize that my years at Purdue had a significant influence on my career,” says Jim. “We both have very good feelings about our gift. In fact, we are currently in the planning process of making a supplementary gift to Purdue.”
