Double Blessings Through Gift Annuities

Taking out gift annuities at Point Loma Nazarene University has provided a double blessing in my life. Not only have they provided secure income in this volatile market, but also I have the greater blessing of supporting a solid Wesleyan theological grounding for college students." ~ Dr. Chester O. Mulder, 1909-2009

In 1998, Dr. Mulder contacted PLNU and learned that, based on his and his wife's ages at the time, a gift annuity paid a fixed rate of 8.4% for the remainder of their lives; they would receive a good tax deduction; and part of the income would be tax free. After finding out how easy setting up a gift annuity was, he proceeded to set up two additional annuities, taking his gift annuity total to $100,000.

While the steady flow of income was important to this late retired minister, Dr. Mulder directed that the University receive any residue from the annuities. It was his hope that these funds would continue to assist the leaders of PLNU fulfill their commitment to teaching and emphasizing the doctrine of holiness to all students across the campus.

When Dr. Mulder celebrated his 95th birthday, our senior director Steve Seelig, President Bob Brower and other members of the PLNU community joined him. After helping him blow out his candles, they listened as Chester recounted a life truly lived in the service of God.

As a young man, Chester Mulder served our country in World War II as an Army Chaplain. Other stages of his life saw him serving as a missionary in Japan and as a pastor in Maywood, California. For almost a century, this incredible man's life was and continues to be a testimony to God's generous heart and spirit of love.

Chester was an active member of the Gateway Church of the Nazarene in Temecula until his passing in early 2009. Fittingly, the church has plans to build a new chapel to be named the "Dr. Chester Mulder Prayer Chapel." We remember Dr. Chester O. Mulder and praise God for his truly wonderful legacy.