Socrates Peter Pappas hasn’t made many trips back to Hanover since graduating in 1958, but his fondness for Dartmouth has not waned over the decades.
As an undergraduate, Pappas—Peter to his friends—was active in the Dartmouth Outing Club, learned how to ski, and climbed Mount Washington. He was a frequent chemistry and math tutor, and he remembers cutting a deal with a member of the squash team: In return for his tutoring services, Pappas received a squash racket and lessons. He also recalls attending poetry readings by Robert Frost, a member of the Class of 1896 who left Dartmouth after a single term and 60 years later was a frequent Great Issues lecturer.
“I loved going to his readings,” Pappas says. “He would come in once a month or so, and in his gravelly voice he would read us his poems.”
After graduating from Dartmouth as a Rufus Choate Scholar and Phi Beta Kappa, Pappas earned a PhD in chemistry at the University of Wisconsin. He followed that with two years of postdoctoral fellowships, the first year at Wisconsin, while his wife completed her doctoral studies, and the second at Brandeis.
He enjoyed a 25-year academic career at Emory University and North Dakota State, followed by 15 years as director of chemical imaging at Polychrome Corporation. Pappas served as a consultant and patent liaison when Polychrome entered into a joint venture with Eastman Kodak and became Kodak Polychrome Graphics. He is now retired and living near Santa Fe, New Mexico.
“About 10 years ago, I felt that I had accumulated more than enough assets to pass on to my children. I started to think about charity,” he says. “Then I decided I should support Dartmouth because Dartmouth gave me a full scholarship when I was a student.”
About 10 years ago, I felt that I had accumulated more than enough assets to pass on to my children. I started to think about charity. Then I decided I should support Dartmouth because Dartmouth gave me a full scholarship when I was a student.
Pappas contacted the Dartmouth Gift Planning Office to learn about his options. Following in-depth conversations, he decided that a charitable remainder unitrust (CRUT), a financial planning tool with tax advantages, offered a good investment opportunity.
An individual can establish a charitable remainder trust using cash, securities, real estate, or several other asset types. Dartmouth sells those assets at market value and invests the proceeds. Income from the trust provides a stream of income for the donor or beneficiaries selected by the donor for life or up to 20 years.
Pappas initially established three CRUTs so he could provide funds for his two children and his domestic partner. He later established two more CRUTs to benefit his two grandchildren. He has made additional gifts to the CRUTs over the years, primarily using appreciated securities as the funding asset.
“I got involved with investing in stocks in grad school,” he says. “I’ve been pretty successful at that.”
Pappas also established the Socrates Peter Pappas 1958 Financial Aid Fund to support students who are—like he was—high academic achievers from families with modest financial means. When his five CRUTs terminate, their remaining balances will transfer into the scholarship fund. Until then, his loved ones will benefit by receiving income from their respective CRUTs.
“I had a wonderful experience at Dartmouth,” he says. “When it came time to consider what to do with my estate, it didn’t take long for me to think about Dartmouth because I have such warm feelings for the College.”