Alumnus Found Security in a Gift That Pays Back

During his life, Paul R. Olson ’49 was a loyal supporter of Rider. Over a period of 20 years, Olson established 16 charitable gift annuities with the University, the most of any single benefactor in Rider’s history. In doing so, he provided himself a dependable income stream for the remainder of his life while also leaving a legacy that will benefit future students at Rider.

An accomplished accountant, Olson understood the benefits of a charitable gift annuity, a type of charitable gift vehicle that provides guaranteed payments and potential tax benefits to the donor.

The annual rate of payment is based on the age of the beneficiary at the time of the gift. The older the beneficiary, the higher the rate. After the beneficiary's death, the balance is then used to support the University and its mission.

Olson, who died in April 2022 at age 96, directed that his gifts’ balance be unrestricted, meaning that Rider will use the residual to support an area of greatest need.

Olson enrolled in Rider as a veteran. He was drafted into the military straight out of Shillington High School in Berks County, PA, where he graduated as valedictorian of his class.

Stationed in Europe during the war, he fought and was awarded the Purple Heart for an injury he sustained in the Battle of Remagen, a 10-day battle over Ludendorff Bridge, one of the last standing bridges over the River Rhine. The capture of the bridge by Allied Forces expedited the invasion of Germany and thus shortened World War II in Europe.

After the war, he attended Rider on the GI Bill, receiving a bachelor in science commerce with a major in accounting in three years with a 4.0 average. As a student he was a treasurer of the Accounting Society and a member of the Spanish Club.

After graduation he spent four years as an auditor for Price Waterhouse & Co. before moving on to Warnaco Group, Inc., where he spent the bulk of his career, retiring as its chief financial officer. He was a past president of the Bridgeport Chapter of the National Association of Accountants.

He lived the majority of his life in Branford, CT, but traveled often, having homes in both Vermont and St Thomas, VI. He enjoyed sailing in Long Island Sound, skiing on Okemo Mountain in VT, and swimming in Magens Bay, St Thomas.

Olson enjoyed life to the fullest and was very grateful to Rider for launching his successful career.

A planned gift provides a unique opportunity to leave a lasting legacy that reflects one’s values and personal mission. For more information on making a planned gift, contact Ryan W. Baumuller at 609-896-5233 and rbaumuller@rider.edu to learn more.