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When it comes to picking a college, big isn’t necessarily better. And the path to success isn’t always paved with diplomas bearing prestigious names evoking images of ivy-draped edifices. Just ask CSU, Chico alum Mike Strand, co-founder and vice president of Houston-based SYMON Communications, Inc., which designs customer service and help-desk-oriented computer networks for major corporations such as Wells Fargo, Bank of America, American Express, and AT&T. He hopes a charitable trust he arranged with the University will encourage more college-bound high school seniors to choose Chico State. Strand (B.S., Biology, ’67) couldn’t be prouder of his alma mater. When he and his partner sold 60 percent of SYMON Communications to a group of investors this year, Strand decided he wanted to give something back to the college where he spent some of the most memorable years of his life. Last April, Strand and his wife, Marilyn, agreed to place $750,000 from the sale into a charitable trust, one third of which one day will endow scholarships for athletes and future high school teachers who attend Chico State. “Attending Chico State was great,” Strand said in a July telephone interview from his office in Sugarland, a Houston suburb. “I’ve never regretted having gone there, and I would do it all over if I could. What I hope to accomplish through the trust is to send a message to students that they can go to a state university and get the same or better educational value as they could at a big-name school. They don’t have to go to Harvard or some place like that to be successful. I want to say, ‘I did it, and so can you.’” Strand enrolled at Chico State after two years at Contra Costa Community College. During his three years here, he played varsity football for the Wildcats and was a member of Lambda Pi fraternity and the Titans, a club for athletes. His love affair with Chico started something of a Strand-family dynasty. Middle brother Ben graduated from Chico State in 1969 and now works for Simplot Industries in Idaho. Ben was followed by younger brother Dave (B.A., Social Work, ’71), and niece Marnye (B.S., Business, ’95), who plans to pursue a law degree. Choosing Chico State was a life-changing decision, he said, one he ranks with accepting a commission as a lieutenant in the U.S. Army after graduation, choosing a sales position in the fledgling computer industry with Memorex Corporation, transferring to IBM’s sales and training division, and starting his own company. For the last several years Strand has read in newspapers and Chico State alum publications about the funding problems besetting California schools. The situation concerned him, he said, but it wasn’t until he sold part of his company that he found himself in a position to help. His financial adviser suggested the idea of a charitable trust, which besides providing scholarships will enable the Strands to sidestep a steep capital gains tax bill. “My financial adviser laid out several options, one of which was a charitable trust,” he said. “At first it sounded nutty. This is more money than I ever expected to have in my life, and I’ll never even see it? But after I had it explained to me three or four times, the tax benefits were obvious.... It makes good financial sense. Better yet, it makes you feel really good.” Under the terms of a charitable trust, donors may specify how their endowment will be used. Strand, a former college athlete, chose to have half of the scholarships go to athletes and half to students working toward careers in secondary education. “Chico has never offered athletic scholarships, though when I was there we played quite a few schools that did,” he said. “With the University’s entering a scholarship division, I thought it would be nice to beef up the sports program by helping to attract good athletes. For me personally, athletics was a confidence-builder that helped me as an officer in the military and later in business.” Strand also believes education is vitally important. Many of his
fraternity brothers went on to become high school teachers. Before
he entered the Army, he, too, considered a teaching career, and
he still thinks about teaching at the community college or university
after he retires from business. Mark Cardinal, Publications Office
A Charitable Trust Works Personal taxes must be paid upon withdrawal of the income, but at a far lower rate than for lump sum capital gains. When donors die, all investment earnings revert to the University, which makes a percentage of the earnings available for scholarships while pumping most of the earnings back into the trust so the endowment–and the amount of money available for scholarships–can grow. For more information about charitable trusts, contact Ed Masterson
by calling 530-898-5297; faxing 530-898-4747; |
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Mike Strand (second from right) with his wife, Marilyn (seated), and their son and daughter, Matt and Cindy
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