Cavalier Corner is the publication just for UVa sports fans!
Issue link: https://comanpub.uberflip.com/i/1375162
JUNE 2021 27 Welcome New Board Members Craig W. Packer is a Co-Founder of Owl Rock Capital Partners and Co-Chief Investment Officer of Owl Rock Capital Advisors. He serves as Chief Executive Officer of Owl Rock's Business Develop- ment Companies, including Owl Rock Capital Corporation and Owl Rock Technology Finance Corp. Mr. Packer has a wide range of experience in leveraged finance and alternative investments, in- cluding leadership roles in invest- ment banking, direct lending and private credit. Prior to founding Owl Rock, Mr. Packer was a Partner and Co-Head of Leveraged Finance in the Americas at Goldman Sachs & Co., where he served on the Firmwide Capital Committee. Mr. Packer joined Goldman Sachs & Co. as a Managing Director and Head of High Yield Capital Markets in 2006 and was named partner in 2008. Prior to joining Goldman Sachs & Co., Mr. Packer was the Global Head of High Yield Capital Markets at Credit Suisse First Boston, and before that he worked at Donaldson, Lufkin & Jen- rette. Mr. Packer serves as Treasurer of the Board of Trustees of Greenwich Academy, Co-Chair of the Honorary Board of Kids in Crisis, a nonprofit organization that serves children in Con- necticut, and on the Advisory Board for the McIntire School of Commerce, University of Virginia. Mr. Packer earned a B.S. from the University of Virginia and an M.B.A. from Harvard Business School. Jill Royster is a leading strategic marketer, an angel investor and a Venture Partner at Powerhouse Capital, an LA-based media- driven technology fund that fo- cuses on entertainment, sports and gaming. An operator by training, Jill has led initiatives for some of the world's biggest brands in- cluding Sports Illustrated, Apple, The North Face, AB InBev, Gato- rade, Citi Bank, USA Today and NBCUniversal. She has worked in brand, media and agency roles, giving her a unique perspective on how to build and deliver new, innovative products and plat- forms that scale. Jill is also an active angel investor who works alongside several women-led companies, including Bandier, Sakara, The Wing and Alchemy 43. She serves on the Advisory Boards for Goodmylk and LuxAnthropy, Chairs the Board for SE@UVA and sits on the Executive Committee of No Barriers, a non-profit that provides transformative experiences to underserved populations. Jill and her husband live in Santa Monica, Calif. She's an avid runner,and an aspiring photographer and enjoys dance parties with her niece and nephews. How can you support Virginia Athletics and receive guaranteed income? Life income gifts to the Virginia Athletics Foundation allow you to pro- vide future support to Virginia Athletics while producing payments for you and/or your loved ones and tax deductions and benefits for you or your estate. Payments can be fixed or variable and current or deferred, depending on your needs. You can create a life income gift during your lifetime or as part of your estate plan. You may define the purposes for which your gift will be used — un - restricted support that meets greatest needs or another purpose you select (scholarship support, for example). The VAF will work with you to document your provisions and be certain UVA can carry out your wishes as you intend. CHARITABLE GIFT ANNUITY A Charitable Gift Annuity (CGA) is created with a simple contract. In exchange for your gift of cash or stock of $5,000 or more, the University of Virginia Foundation pays you and/or your loved one a fixed annuity for life. At the end of the contract term, the remainder will be used to support athletics in the manner you specify. Rates range from 3.7% to 8.6% and depend on the age(s) of the annuitant(s). Each annuitant must be at least 55 years old when pay - ments begin. A portion of each payment will be tax-free income. If you fund your CGA with appreciated stock, you will avoid a portion of the capital gain and defer the rest. You can select the CGA that works best for you: • An immediate payment CGA begins making payments immedi- ately. • A deferred CGA begins making payments on a future date you select. Deferring your start date can yield a higher rate and larger charitable deduction. A flexible deferred CGA allows you to select a range of future dates on which your payments can begin. The University of Virginia Foundation is able to offer CGAs to resi - dents of most, but not all, states. CHARITABLE REMAINDER TRUST A Charitable Remainder Trust (CRT) is created with a gift of stock, cash, or real estate and pays you and/or your loved ones income for life or for a specified number of years you select. At the end of the trust term, the remainder will be used by the VAF for the purposes you specify. Your payments can be fixed or variable: • A charitable remainder annuity trust (CRAT) provides fixed pay - ments based on a percentage of the trust's initial value. • A charitable remainder unitrust (CRUT) provides variable pay- ments based on a percentage of the trust's floating annual value. With a minimum contribution of $50,000, you can name UVA to serve as your trustee, and you may select a percentage payout for your trust ranging from 5% to 7%. UVA offers a range of investment options for your trust, including the ability to invest a CRUT alongside UVA's endowment. LIFE INCOME GIFT BENEFITS • Provide supplemental income to you and/or your loved ones • Provide a current income or estate tax deduction • Convert low dividend-yielding stock to higher fixed or variable income • Convert real estate or other illiquid assets into a reliable income stream • Reduce exposure to market volatility For more information and calculations, contact the VAF at 434-982-5555.