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Planned Giving

Working Together to Make a Difference: Henry Williams '70 and Rosemary Wade

Donor Henry Williams

Henry Williams '70 has named the College in his estate plans.

Working Together to Make a Difference: Henry Williams '70 and Rosemary Wade

Henry Williams '70 and his wife Rosemary Wade make regular gifts to Kalamazoo College and have named the College in their estate plans, and Henry would like to see his peers take the same approach. "The College needs many people making gifts and bequests to make a significant difference," says Henry.

While at K, Henry studied abroad in Aix-en-Provence, France and played on the golf team, something he would not have been able to do at a larger school. Soon after graduating, Henry began making gifts to the College that increased over time, especially with the help of matching contributions from his employer and his wife's employer. He became one of the first members of the 1833 Society, the leadership giving society of the Kalamazoo College Fund.

When asked about what motivates him to give, Henry says that he does so for two reasons. "I have fond memories of my experiences and a desire to allow other students to have similar positive experiences," he says.

Deciding on a Gift
For Henry and Rosemary, designating a tax-exempt organization like Kalamazoo College among the beneficiaries of their retirement plan makes sense.

"Like a lot of others our age we have a large part of our estate in IRA investments, and, if a relative inherited those assets, they would pay a significant portion in income taxes. That's not the case with K," Henry says.

After hearing of Henry's early retirement in 2000, Athletic Director Bob Kent asked him to coach golf at K. With Henry's appreciation for the sport, it was a good fit, and he coached women's golf for three years until he and his wife Rosemary began to spend more of their time at their second home in Arizona.

Henry enjoys playing golf in the annual Hornet Golf Jamboree each June to support athletics at K. He still keeps track of K golf happenings from afar, and he and Rosemary are pleased to stay involved with the College through their giving.

Make Your Gift Today
If Henry and Rosemary's giving spirits inspire you, please consider making a gift of your own. Contact Matthew Brosco, Esq., CFRE at 269-337-7288 or mbrosco@kzoo.edu any time to discuss which options can best meet your financial goals.

 

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A charitable bequest is one or two sentences in your will or living trust that leave to Kalamazoo College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to Kalamazoo College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to K or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to K as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to K as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and K where you agree to make a gift to K and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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