Larry Lozares

By Ashley Han

Music has always been an important part of life for Larry Lozares '86, despite spending his career as an engineer. Now that he is enjoying retirement, Lozares is able to resume his music and give back to UC Davis.

"I am very fond of my time at Davis, particularly in the music department," Lozares said. "It was one of my favorite memories because of the personal attention we got as music students."

When Lozares was a student, the music department was much smaller and he recalls only four students being in his core music classes. His professors were able to create and tailor his courses to fit their needs.

"I'm pretty amazed when I hear stories of the size of the music department now," Lozares said. "I remember taking music lessons for granted, but now the UC system is always in need of more support."

Lozares also studied computer science, which led him to a long career at Adobe and the opportunity to earn company stock, often with a low cost basis. In considering his current circumstances, he found that a charitable remainder unitrust (CRUT) funded with his shares would benefit his tax situation and the university.

Using appreciated Adobe stock given directly to the university, Lozares created a CRUT, established the Larry Lozares Music Lesson Endowment to support music lessons for students in the music department, and avoided paying capital gains tax on the stock. In return, he will receive income each year from the trust and knows he is helping music students today through the endowment.

CRUT income beneficiaries receive that income for life (and/or for a period not exceeding 20 years). After, the remainder of the trust is given to the charitable beneficiary. Lozares wanted the music department—specifically, its students—to be that beneficiary.

"There's a trade aspect to music and other performing arts where you have to practice for hours, in addition to other studies," Lozares said. "I want to make sure people don't fall through the cracks and have struggles with getting the lessons they need."

Through his gift, Lozares can add to the trust at any time and get a partial tax deduction for the gift, while also boosting his income in the future. Lozares can now just focus on playing his instruments with volunteer music groups and take part in workshops in Northern California.

"Giving through a CRUT is one way to give and get paid back for your investment," Lozares said. "I'm glad my gift will help students reduce their stress and contribute to music lessons."