Institutional pride runs deep for Ben Galloway'62 and his wife, Jean. So, it was a natural choice for the Aurora, Colo., couple to decide to direct their IRA distribution to Beloit College to support adventure, creativity, and exploration for students today. And the best part is that it benefits both Beloit and the Galloways.
The American Taxpayer Relief Act of 2012 extends provisions for qualified charitable distributions from IRAs through Dec. 31, 2013, thereby continuing this simple and effective way to support your philanthropic interests. When asked why they chose to give in this way, Ben says, "It was just so easily done—so easy to direct a gift to an institution [Beloit] that we care very much about. It just simplifies giving."
Coming out of a year of chemotherapy and radiation and the ups and downs of recovery, Marshall Carter-Tripp'65 was ready in December 2012 to do something she's always loved – travel. So as she and her husband, Dick, were organizing recent trips to Central and South America, the couple made sure they met with an estate planning attorney to get their will in order before embarking on their travels.
After a career in the U.S. Foreign Service, Marshall knows how to prepare for extended travel, including putting advance directives in place. But her motivation was more passionate this time. "I should say that receiving a cancer diagnosis and going through treatment and recovery makes you keenly aware of the need to have your affairs in order, and of the importance of supporting those institutions that made a difference in your life," she says.
Stacy Kern-Scheerer'00 and Jonathan Scheerer'01 know that drawing up a will does not have to be a hard or complicated process, and that you don't have to be older or have a lot of assets to make it worth your time.
Jonathan and Stacy met at Beloit when they were 19 years old. Married since 2006 and now settling into careers, they started their family last September with the birth of August Kern-Scheerer. Now they've taken their next big step – they've set up a trust to provide for their son and to make a major gift to Beloit College.
Beloit alumnus and Princeton, Ill., resident O.V. Shaffer '50 has already left his mark on campus and the greater Beloit community with many of his creations adorning public spaces and private gardens. With his two gift annuities through Beloit College, Shaffer, who goes by the name "Verne," has made plans to establish the O.V. Shaffer Endowed Exhibitions Fund to provide more opportunities for student-directed installations and exhibitions at the Wright Art Museum and the Logan Museum of Anthropology.
More than 40 years ago, Dan Gooder Richard '69 discovered his professional calling while working in the stacks of the Morse Library at Beloit. Now he's taking steps to help today's students experience the same value in their on-campus employment opportunities.
Even though updating the documents in an estate plan is one of those chores that often gets postponed indefinitely, Beloit alumnus Dan Gooder Richard '69 took the initiative to revisit the trust documents he originally wrote 12 years ago.
Claude and Judy Gianetto have included Beloit College in their will. Through creative gift planning, they have discovered how to increase their support without changing their will—by naming the college as a beneficiary of their IRA.
Parent Eric Kelly P98 says of Beloit, "As I reflect back on what institutions have made a difference in my children’s lives, Beloit sails to the top.”
Eric Kelly knows education. But even with four degrees and experience at Indiana’s Ball State University as an academic dean and a professor of urban planning, he’s never seen anything quite like Beloit.
His daughter, Valissitie Heeren’98, earned a top-caliber pre-med degree while also pursuing an interest in French.
For Nancy Schmidt’52, Beloit built worthwhile associations during her lifetime that will now reach beyond through a generous bequest from her estate.
In 1948, Nancy Schmidt’52, a young high school student had just completed her application for admission to Beloit College. On the application she wrote, “My purpose for attending college is … to have college be the source of worthwhile friendships and associations.” Nearly 60 years later, the College received a large and unexpected bequest from Schmidt’s estate, signaling that Beloit indeed had played a meaningful role in fulfilling that purpose.
“Education generally makes for happier, better people,” says Paul Foster’86 about the creation of the Paul W. Foster Endowed Scholarship Fund. “Without trying to sound corny, it makes the world a better place.”
Thanks to his success in residential real estate in the Washington, D.C., area, Foster has been able to make a $25,000 gift to Beloit that will help promising students with financial need to pursue their educations. His gift will be invested, and the income it earns year after year will provide scholarships for Beloiters.
James E. Lockwood, Jr.’34, a Beloit graduate, remembered as an inventor and innovator, who swam with Tarzan and was eulogized as a model for Indiana Jones, will encourage some of that same excitement for Beloit students through a $1.4 million bequest. Lockwood's spirit of adventure and discovery will continue through his generous legacy.