The Power of Compound Interest for Philanthropic Support
Corey Schieler '97, CFA, director of venture capital investments at State Farm Insurance, became interested in investing after opening a savings account at the age of ten and learning about the 'power of compound interest.' At Illinois Wesleyan University he found mentors and investment experiences that deepened his appreciation for investing and kicked off his 27 years and counting at State Farm.
"I owe my career start in institutional asset management to my IWU network. Former IWU president Dr. Robert Eckley sat on the advisory board of the IWU student-run equity portfolio, where I was a student my senior year, and it was through Dr. Eckley and my other IWU connections that got me an interview with the Investment Department at State Farm."
Out of gratitude for these experiences in a "liberal arts environment that develops the type of creative and innovative thinking necessary to be able to evaluate venture capital investment opportunities," Corey and his wife Pam became Hearts Aflame Fellows when they chose to support IWU through giving appreciated equity assets.
"As any good investor knows, gifting appreciated assets, such as from a taxable investment account, 401(k) account, traditional IRA, or other asset like farmland, can maximize the value to IWU while also minimizing and/or avoiding the payment of capital gain taxes for the donor."
Corey remarks of their gift to the Greg Yess '82 Bloomberg Finance Lab, which finance and business students utilize on a daily basis, that it "symbolizes our deep and sincere appreciation for what IWU gave to me, in helping me build my professional career in investments."
Corey is a Board of Trustees member and has served on the student-run Client Board for the Portfolio Management class since 1997 and as chairman since 2011. "It has been an honor, both professionally and personally, to engage with the students several times each semester and see them develop the analytic skills to become an investment professional or even just a more informed personal investor."
"IWU is an essential and special place for higher learning and our hope is that it continues to grow and compound, just like my savings account did when I was 10 years old!"
