Barbara and Marks Hinton ’60:
Marks Hinton’s parents placed a high value on education. When they sent him to St. John’s, his father told him, “One thing I know I can give you that can’t be taken away is your education.”
In 2000, Marks Hinton, Jr. ’60 notified the School that he and his wife planned to make a joint gift with his father to endow what is now known as the Hinton Family Scholarship – a scholarship awarded to a student who demonstrates excellence in his or her character, interests, and capabilities. After meeting with their estate attorney, Marks and Barbara (then in their early 60s) realized that they could use current appreciated assets to create a Charitable Remainder Trust (CRT) – a trust in which appreciated assets can be used to create an income stream for life (or for a period of years). Not only were the Hintons able to satisfy their philanthropic priorities, they were also able to reduce their taxable estate and avoid the capital gains tax they would have had to pay had they sold the stock outright.
Marks believes St. John’s made good on his father’s promise by providing an education that was second to none. He put his education to work for 35 years in investments, followed by a retirement during which he has authored six books. When it comes to philanthropy, Marks and his wife, Barbara, think the best way to help St. John’s is by helping excellent students attend the School, regardless of their family’s financial position.
The trust Marks and Barbara have established makes them members of St. John’s Chidsey Society, which recognizes long-term commitments the School. Marks sees his Chidsey Society membership as a simple act of repaymennt for the education that his family and the School gave him. By creating this scholarship and partially funding it with a CRT, the Hintons
can see the impact of their philanthropy immediately, knowing that they have also made provisions for additional gifts to be made to the scholarship in the future. This process, facilitated by their estate attorney, has allowed Marks and Barbara to engage with St. John’s at a new and meaningful level while solidifying their legacy for generations to come.