Peter G. Peterson '47
	Have you made your gift to the Kellogg School? The Kellogg School and its current students rely on the generosity of alumni and friends to support ongoing needs. Please consider a contribution to the Kellogg School Annual Fund. Ways to make your gift: Online Via phone: 847.467.7142 Via mail: Kellogg School of Management, Office of Development2001 Sheridan Road, Evanston, IL 60208 Printer's Proof deadline: May 15 To be included in our Printer's Proof, the preliminary donor listing for fiscal year 2004, we must receive your gift by May 15. All gifts received between Sept. 1, 2003, and Aug. 31, 2004, will be counted as fiscal year 2004 contributions to the Kellogg School. Thank you for your generosity.

Peterson Chair in Corporate Ethics established

Kellogg School alumnus Peter G. Peterson '47 --- who graduated from Kellogg with highest distinction and since has built an accomplished career as a leader in both the public and private sectors --- has pledged $2 million to the school to establish the Peter G. Peterson Chair in Corporate Ethics.

"I spent some of the best and, in retrospect, some of the most rewarding days of my life at Northwestern," Peterson said. "This gift is the least I could do."

The new academic position highlights the Kellogg School's commitment to educating leaders who meet the highest standards of ethics and integrity, and will be a valuable resource in helping the institution to meet that goal well into the future.

Northwestern University President Henry Bienen, a friend of Peterson's, had this to say of the gift: "Northwestern University takes great pride in the accomplishments and public service of our alumnus Peter G. Peterson. Pete Peterson has been a giant in American public and civic life. I am extremely pleased that he has honored and supported the Kellogg School in an area that he cares so much about: ethics, integrity and corporate governance. And I am very grateful for his friendship and generosity."

Among the highlights of Peterson's distinguished resume is service to a variety of public and private organizations. He is chairman and co-founder of investment and advisory firm The Blackstone Group and chairman of the Council on Foreign Relations. He led Lehman Brothers as chairman and CEO in the 1970s and early 80s.

He is founding chairman of the Institute for International Economics; founding president of The Concord Coalition, a bipartisan citizen's group dedicated to promoting fiscal responsibility; and co-chair, along with John Snow, of The Conference Board Commission on Public Trust and Private Enterprises.

Peterson has also served several presidents: During the Nixon administration, he was assistant to the president for international economic affairs, and later, secretary of commerce. Peterson also served as President Ford's chairman of the Quadrennial Commission on Executive, Legislative and Judicial Salaries, and was a member of the Bipartisan Commission on Entitlement and Tax Reform during the Clinton presidency.

He has authored several books, including Gray Dawn: How the Coming Age Wave Will Transform America --- and the World, Will America Grow Up Before It Grows Old?, and Facing Up: How to Rescue America from Crushing Debt and Restore the American Dream.

Charitable bequests can benefit the Kellogg School over many years

"Young people are the best part of humanity. I want to be a part of the process that helps mold them." --- Steve Cobin (EB '63), on his decision to help others enjoy "the fruits of Northwestern" through a bequest intention

What is a bequest?
A bequest is a gift specified in a will or trust that allows the donor to retain control of all assets during his or her lifetime.

General bequest: the donor leaves a specified dollar amount to Northwestern to benefit the Kellogg School

Specific bequest: the donor designates certain asset items (whose value may change over time)

Residuary bequest: the donor assigns a certain percentage of an estate's value (helps ensure that each beneficiary receives a constant proportion)

There is no limit on the amount that can be deducted from a taxable estate, and since estate tax rates are graduated --- the larger the estate, the greater percentage of tax owed --- a bequest may reduce the rate at which the remainder of an estate is taxed.

For more information on bequests, please contact Stephanie Blackburn Freeth at 847.491.3348.

Crafting a bequest is simple. Here are some examples of wording that can be used:

To the Kellogg School, unrestricted:
"I give to Northwestern University, an Illinois corporation, Evanston, Illinois, the sum of $_____ (or ___ percent of the remainder of my estate) to be used for the benefit of the Kellogg School of Management for its unrestricted purposes."

To the Kellogg School for a particular purpose:
"I give to Northwestern University, an Illinois corporation, Evanston, Illinois, the sum of $_____ (or ___ percent of the remainder of my estate) to be used by the Kellogg School of Management for support of ____."