Placed side-by-side, 300 million mugs would cover more than 300 football fields. That is the ultimate culmination of merchandise produced by the giftware company Stanley Papel and his father built over 70 years. Their business was built on creativity, hard work, and a core belief to support others. “My dad cared about people and was a really good person,” Stanley says. Now, Stanley is channeling his father’s giving spirit by creating a legacy of his own: a charitable gift annuity with the Foundations of Sharp HealthCare.
How Stanley’s legacy gift works
Stanley established a charitable gift annuity in support of ENVISION: The Campaign for Sharp HealthCare by donating shares of highly appreciated stock. His gift will help expand facilities, advance nationally recognized clinical programs and fund innovative technology at Sharp Metropolitan Medical Campus. “I feel so appreciative to Sharp,” he shared with GB Magazine. “My doctors have been so wonderful and have truly helped me, so it is my way of paying it back.”
“Stanley’s gift also provides him with several tax benefits,” explains Linda Spuck, Chief Gift Planning Officer. “Had Stanley sold his appreciated stock, he would have paid tens of thousands of dollars in capital gains tax. By turning it into a charitable gift annuity, he can see his donation in action and receive high fixed-rate payments for the rest of his life, some free from income tax. He also received a substantial up-front charitable deduction.”
Making his dad proud
Stanley’s generosity is deeply connected to his family story. His dad, Phil, founded PAPEL Collectible Mugs on Main Street at Disneyland when it opened in 1955, soon expanding to The Queen Mary in Long Beach. “We were decorating mugs 24 hours a day,” says Stanley. “We couldn’t make them fast enough.” Over seven decades, they sold hundreds of millions of mugs. Stanley not only respected his dad’s business acumen and work ethic, but also his giving spirit. “He set up scholarships for his employees, and I admired that,” Stanley recalls.
Gifts of appreciation
Stanley moved to San Diego during the pandemic, and when he needed expert health care, he turned to Sharp. Grateful for the quality care he received, Stanley wanted to show his appreciation. Stanley initially made gifts in honor of his caregivers, but he was excited when he learned he could make an even greater difference through a charitable gift annuity. “I feel so appreciative to Sharp,” Stanley says. “Sharp is doing some exciting things, all to help other people. This is my way of paying it forward.”
“Establishing a charitable gift annuity is a win-win-win,” Stanley continues. “Sharp is a wonderful health care organization. Financially, if you are retired, it offers a secure income for the rest of your life, and you are doing something good for other people at the same time.”
To explore your legacy giving opportunities, visit www.yoursharplegacy.org.
