Joy-filled Life and a Joyful Gift
For Marvin and Sandy Thompson, Camp Magruder held a special place in their hearts. They attended the summer camp programs as campers and counselors. They sent their children to Magruder and their children sent their children as well. For the Thompsons, Camp Magruder was much more than a camp. It was the place where they experienced faith in Christ, new friendships, and leadership development.
The Thompsons were also leaders at Montavilla UMC, where they met and served together: Marvin in hospitality, and Sandy in the drama ministry. In those early years, they and four other couples at the church bought a beach house in Rockaway Beach, vacationing together and growing close as families. As the Thompson family expanded to 9 (including 5 adopted children), they purchased an adjoining lot and began building a new duplex. Over the next few decades, they spent vacations, holidays, and get-away times at this beach house, and as their children married and started their own families, grandchildren and extended family all enjoyed their time at Rockaway.
About 10 years ago, with families getting older and busier, the Thompsons decided to sell the duplex. At the same time, Camp Magruder announced a large capital campaign. Sandy and Marvin, in reflecting upon the impact of this camp’s ministry on their lives, decided that they wanted to contribute by donating part, but not all, of the duplex’s value. The Thompsons worked with Tom Wilson at the Foundation to figure out how they could leverage the sale of their vacation home into a donation to the camp.
The couple transferred ownership of the duplex to the Foundation. We sold the property for $560,000, and gifted $284,000 to the camp, giving the Thompsons a nice tax break. We then invested the balance of the proceeds to pay the couple $2000 per month for the next ten years to supplement their income. The legacy of Marvin and Sandy Thompson’s generosity will joyfully continue impacting the lives of people, old and young alike, through the ministries of Magruder Camp.
Bargain sales allow donors to create meaningful gifts with part, but not all, of an asset’s value. Terms vary according to the donors’ needs. Call us at 800-488-4179 if you’d like to talk through a gift like this.