Jim Hopkins Puts His Money Where His Heart Is

Jim Hopkins '62 began a multi-year pledge commitment using his IRA as a funding source, notifying URI Foundation & Alumni Engagement so his gifts can be counted toward the campaign goal.

Jim Hopkins '62 forms lasting connections. He grew up in Coventry, Rhode Island, and still has lunch with the neighborhood friends who attended URI with him. His love of sailing introduced him to friends who would offer him career opportunities based on his skills. He has an extensive list of relatives and friends with whom he stays in close touch.

When Hopkins makes a commitment to a person, an employer, or an organization, he is all in. URI is among the organizations to which Hopkins has devoted his talent and resources.

Before retirement, Hopkins led production operations at A.T. Cross for 20 years, and another 14 years at Wardwell Braiding Machine Co. His career at Wardwell gave him the opportunity to work in Germany for four years, an experience he cherishes.

"I believe that people in the U.S. should have more exposure to other countries so that we understand different cultures and gain a wider perspective, which is why I support the J-term* endowment at URI," said Hopkins.

"When Dean Libutti (vice provost for enrollment management) described the international experiences URI students have, I wanted to contribute so that students with limited resources could participate. There is now a J-term endowment that covers travel and food for students who can't afford it."

Hopkins has stayed involved with URI, from letter writing for alumni relations to serving on both the Alumni Association and Foundation Boards (now the URI Foundation & Alumni Engagement (URIFAE) Board).

He led the Foundation for nine months before current URIFAE President Lil O'Rourke was hired. During URI's last capital campaign, Hopkins and several members of his family established an endowed scholarship to benefit future generations.

With the launch of Big Ideas. Bold Plans. The Campaign for the University of Rhode Island, Hopkins began a multi-year pledge commitment using his IRA as a funding source. He has also communicated his estate plans to URIFAE so they can be counted toward the campaign goal.

"At first, I was concerned about talking specifics, but a conversation with Bob Ferrell (assistant director of gift planning) convinced me to share my plans," said Hopkins. "I've named URI as a beneficiary on my IRAs and investment accounts. While those accounts rise and fall with the stock market and I can access those funds for my needs, it is still beneficial to share the information with URI for their planning purposes.

"I also continue to make my annual contribution directly, but using my IRA offers me financial benefits—I don't pay taxes on that contribution because it goes directly to URI." Hopkins noted that it was easy to create IRA distributions. His investment advisor handled all the details.

"I'm not always going to be here to make my annual contribution. By including specific URI endowments in my estate plan, I can be sure that projects and programs that matter to me will continue to be funded. I like the idea of leaving a legacy for something I believe in."

To learn more about using your IRA to leave your legacy at URI, contact Office of Gift Planning at 401.874.7900 or plannedgiving@uri.edu.

*The J-term offers international travel for academic credit during winter break. The J-term endowment attracts many contributors.