For more than 60 years, James L. “Jim” Hecht and Amy Blatchford Hecht have believed in the power of cultural exchange. While neither attended the University of Denver as students, an introduction to DU’s Josef Korbel School of International Studies inspired the couple to establish a new academic and scholarly exchange program.

In 2015, the couple created the University of Denver/American University of Beirut Academic Partnership Endowment Fund to support a scholarship exchange for faculty and students between DU and the university where Amy’s parents met. The Hechts established a gift that pays them income to create the partnership. By transferring appreciated securities to DU, the Hechts receive a partial tax deduction and a lifetime stream of annual income. Additionally, their gift was matched with institutional funding, providing scholarship funds for immediate use.

“A charitable gift annuity is a good financial tool. If you sell stock, you lose a lot in taxes. By giving appreciated stock, we increase our income, and there’s no downside,” Jim says.

The Hechts hope to benefit both universities through this partnership and strengthen bonds between the U.S. and the Middle East at the same time.