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Joyce Saxon: A Gift to the CIA Makes You Feel Needed
Joyce Saxon's divergent careers allowed her to experience both sides of fine dining. She is knowledgeable of food "and all that its proper preparation entails." In fact, such is her appreciation of quality cuisine and the social aspects of dining that Joyce left the Culinary Institute of America (CIA) a significant bequest in her will.
Coincidentally, one of her good friends is a member of the CIA Class of '83, Barry Colman, an Institute trustee and owner of the More Than a Mouthful Restaurant near her Palm Springs, Calif., winter quarters.
"I support my friend Barry in all his endeavors," says Joyce, who was raised in Chicago's Old Town. She is the daughter of a San Francisco-born surgeon and a Viennese high fashion model.
Joyce, who prefers to enjoy and plan meals, rather than actually cook, has had a taste of both. As a manager with a world-wide advertising agency, she was responsible for placing a million dollars a week in broadcast advertising; she was invited to dine in many of America's renowned restaurants by TV and radio station management across the U.S. Later, as personnel director of a major Midwest caterer, Joyce was involved with staffing events such as the Kentucky Derby and the U.S. Senior Open golf tournament.
"The world doesn't need another MBA in interior design," she says. Her bequest to CIA will help aspiring new chefs pay for their training. "A cook can always find employment; I want to help men and women secure a solid future, enabling them to find rewarding work anywhere in the world."
Joyce, who is a co-founder of ChicaGourmets! and a member of this society's governing board, further goes on to say, "I expect my funding to provide job opportunities for dedicated people who aspire to remain in the hospitality industry for life."
"I do recommend to others that they rework their wills to include the CIA," she says. "Leaving a tangible, meaningful gift makes me feel needed."
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to CIA as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to CIA as a lump sum.