For Captain Marc Siedband '75, USN (Ret.), attending the Naval Academy was a lifelong ambition.
"The idea of being a naval officer had consumed me since I was eight years old," said Siedband. "It was something that captured my heart from my first visit."
Siedband, whose naval career culminated with his command of Naval Surface Warfare Center Indian Head Division and who later served a number of private organizations in facilities operations roles, credits the Academy with preparing him to excel in both military and civilian life.
"You emerge [from the Academy] as a junior officer ready to continue to grow as a leader of character. It's a lifetime connection."
Siedband, along with his wife, Debbie, set up a flexible charitable gift annuity (FCGA), a variation of a charitable gift annuity (CGA), to support the Academy and strengthen their connection to his alma mater. He made a gift in 2016 to set up the FCGA, and sometime after he and Debbie both turn 65, they can start receiving fixed, secure payments from it that will continue as long as either of them lives. The longer they wait to start receiving payments, the higher their annuity rate will be. Once his FCGA payments start, Siedband plans to use the payments to fund annual contributions to the Academy through the Naval Academy Foundation.
Siedband, who returned to the Academy for a year in 2007 to serve as an ethics instructor, describes his time as a midshipman as a "compelling part of my personal development." He wants his gift to improve the experience of future midshipmen.
"I view it as an investment in the Academy," Siedband said. "It's putting returns back into the institution and represents another opportunity to stay connected and give back."
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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. 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. 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. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.