Planned Gifts Benefit Next-Generation Medical Students
David Margulies ’61 MD was introduced to medicine by his father, who owned a small pharmacy in New Jersey. Dr. Margulies grew up helping with all aspects of the business, from delivering orders on his bike to filling prescriptions. He earned an undergraduate degree in pharmacy from Columbia University before deciding to apply to medical school. In 1957, he was accepted to Northwestern University School of Medicine (now Northwestern University Feinberg School of Medicine).
Dr. Margulies continued to work part-time as a pharmacist at a small neighborhood pharmacy during medical school, earning enough to help cover his tuition. “I was able to get an excellent medical education without the stress of student debt,” Dr. Margulies says. “I want to give future generations the same opportunity.” With this in mind, Dr. Margulies and his wife, Mary, have committed to supporting Feinberg through their estate plan.
A Promising Future
Early in medical school, Dr. Margulies was drawn to the field of obstetrics and gynecology, which offered a mix of patient care, medical, and surgical opportunities. Through a partnership with the Chicago Maternity Center, a home birthing clinic on Chicago’s then impoverished West Side, Dr. Margulies worked with expectant mothers and delivered his first babies. He also trained under John Brewer, former chairman and chief of services of the Department of Obstetrics and Gynecology at Passavant Hospital, which later became Northwestern Memorial Hospital.
“The professors at Northwestern set a standard of excellence,” Dr. Margulies says. “The lessons I learned in medical school shaped my career.”
Dr. Margulies went on to complete an internship in obstetrics and gynecology at George Washington University School of Medicine in Washington, DC, a residency at Charity Hospital of Louisiana in New Orleans, and a tour of duty in the Air Force, during which he was stationed at a military hospital in France. In 1967, he returned to the Washington, DC, area and began practicing obstetrics and gynecology at a health maintenance organization (HMO) before transitioning into private practice. He went on to open a successful solo practice and serve on the clinical faculty of George Washington University.
Gifts That Keep on Giving
Now retired after nearly 40 years in practice, Dr. Margulies has chosen to leave a legacy at Feinberg. He and his wife plan to establish the Dr. David M. and Mary Pim Margulies Endowed Professorship in the Department of Obstetrics and Gynecology at the end of their lifetimes. They also will continue to support the Dr. David M. and Mary Pim Margulies Scholarship Fund.
To realize these goals, the couple has established a charitable remainder trust and charitable gift annuity through Northwestern. These giving vehicles allow donors to make tax-deductible gifts of cash or appreciated assets to the University and receive lifetime income benefits in return. When the donors pass away, Northwestern receives the remainder of the gifts.
Dr. and Mrs. Margulies have included a generous bequest to the University in their estate plan as well. Bequests—most often made through a will or trust—are an effective way to make a significant impact at Northwestern. They can be structured to support a particular school or program, or to offer unrestricted support to the University. Bequests are simple and revocable, allowing donors to retain control of their assets while they are alive.
“My gifts are an expression of gratitude for the superior education I received at Northwestern,” Dr. Margulies says. “Through them, I hope to create a legacy at the medical school that lives on in perpetuity.”
Leave Your Legacy
Through a gift in your estate plan, you can ensure that future generations of Northwestern students have the opportunity to thrive. Contact Northwestern Gift Planning at 800-826-6709 or firstname.lastname@example.org to learn more.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
Northwestern does not offer charitable gift annuities in all states, so please contact us to determine eligibility.