The Gwendolyn H. Morrison Charitable Remainder Unitrust

Gwendolyn Morrison planned her legacy carefully and with great forethought. In addition to her generous gift to MMBB, she created scholarships at her alma mater, Vassar College, and Brown University. Her gift to MMBB of $897,894 was received in 2019 and directed to the endowment fund per her estate paperwork, as follows:

This gift is for the [MMBB] endowment fund and is made in appreciation for the kind consideration given to the Grantor’s [Gwendolyn Morrison’s] father, Fred L. Hainer, a Baptist minister, by their board. The Grantor desires…that the income from this bequest be used for the benefit and support of retired Ministers and Missionaries.

A charitable reminder unitrust, or CRUT, is a relatively rare estate planning vehicle. The grantor or trustee provides for named beneficiaries during their lifetimes. Upon their deaths, the remainder of the trust is distributed to charity. Please see MMBB endowment for more information about the impact of the gift from the Gwendolyn H. Morrison Charitable Remainder Unitrust.