College of Coastal Georgia issued the following announcement on Dec. 17.
Dr. George Dupuy has designated the College of Coastal Georgia’s Athletics Department as a beneficiary of his estate. The gift, when realized, will make a long-lasting impact on the program and support the athletic and academic experiences of student-athletes.
Dupuy is a former professor of management for the School of Business and Public Management, working at the College from 2009 to 2016. Before his time at Coastal, Dupuy had an extensive career in both business and higher education. His career started in banking then in human resource consulting. In higher education he taught management, marketing, strategy, ethics, entrepreneurship, served as dean of two business schools, and earned tenure at each institution that he worked. He earned a Bachelor of Arts in sociology (cum laude) with a minor in business at the College of William and Mary, and both an MBA and Ph.D. in business at the University of North Carolina Chapel Hill.
At the College, Dupuy continued to cultivate students’ strategic thinking skills. He was very committed to students’ growth and dedicated to helping the College grow. One way this was demonstrated was through the establishment of a Charitable Remainder Unitrust (CRUT) using Dupuy’s own real estate to benefit the College. His gift will result in a major six-figure contribution. The idea to form a CRUT came when Dupuy and his late wife Beth purchased two acres of marsh-front property in Glynn County. They were renovating a spacious home for frequent visits from their children and grandchildren, however as moving day approached, his wife didn’t want to leave their historic home in South Gloucester. The Dupuy's now owned two homes. They wanted to find a creative way to benefit the College, and Dupuy knew that his alma mater—William and Mary—used CRUTs as a philanthropic tool.
“We were unaware of the many advantages of giving through a Charitable Remainder Trust. We found that CRUTs create a win-win arrangement for both parties,” Dupuy said. “The beneficiary receives a commitment to receive funds in the future, while the donors receive a lifetime stream of income.”
Unitrusts are tax-exempt entities, meaning property placed into the trust can be sold without incurring any capital gains tax. This estate planning method allows one to receive income from the trust during their lifetime, then at their death, the trust assets automatically pass to the beneficiary—in this case, the Athletics Department. As a former faculty member of the College, Dupuy knows that this contribution will provide many valuable resources for the athletics program.
“Planning for the future is important. We hope our gift, although not immediately available to spend, will be even more effective in the future,” he said.
Dupuy decided to support the athletics program because of the general appeal of good college sports programs to prospective students and student-athletes.
“Having intercollegiate sports programs is important in attracting a student who wants to participate and/or watch,” Dupuy said. “Also, intercollegiate sports programs help foster school spirit and satisfaction.”
His gift will support the program by providing scholarships to recruit and retain academically and athletically-talented student-athletes, enhance game-day experiences for fans, update training equipment, support away game relate-expenses, and much more.
Dupuy hopes his gift will inspire others to consider alternative ways to contribute towards the College and create opportunities for raising matching funds.
Currently, Dupuy is enjoying his retirement on St. Simons Island. After his wife passed, he moved to Atlanta to be closer to extended family. He missed the coastal climate and lifestyle so much that he moved back to St. Simons in 2018. He met his now wife Joyce, and both go on walks with their two dogs, listen to music, and enjoy the island life.
Original source can be found here.
Source: College of Coastal Georgia
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