Taking the Lead — Charitable Lead Trust

Mollie Herzog Keys '64

As chairman of the board, president, and chief executive officer of 3M, Raymond Herzog '38 was the epitome of a leader. Herzog also helped lead Lawrence as a trustee from 1971 to 1982, and as a trustee emeritus from 1983 until his passing in 1997. Herzog and his wife, Jane Cobb Herzog, shared a strong belief in the value of a liberal arts education. After Raymond's passing, Jane and the family found a unique way to continue Raymond's commitment to Lawrence by establishing a Charitable Lead Trust.

Lawrence has received a portion of the trust's value. In 2009, after Lawrence received the final installment from the Herzog Lead Trust, the remainder of the trust was distributed to Raymond and Jane's children. Mollie Herzog Keys '64, a former Lawrence trustee in her own right, explained, "My parents loved Lawrence as I do, and the lead trust allowed our family to offer important support to Lawrence, while also assisting my mother's estate and ultimately benefiting me and my brothers. We have all gained from this form of giving in numerous ways." The funds from the Herzog Lead Trust allowed Lawrence to name the chemistry suite and commons in Science Hall in honor of Raymond and Jane.

The current economy makes charitable lead trusts an excellent tool for those wishing to support Lawrence, while also preserving an inheritance for family.

Just as Lawrence strives to develop leaders through its unique brand of education, the college relies on the leadership of its supporters to help make that education possible for its students. Lawrence is deeply grateful to the Herzog family for the leadership example they have set for others to follow.