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.
Stopher Bartol '88 and his wife are dedicated annual supporters of the economics and management department at Beloit College. They are also happy to have made a bequest to the College in their will because they believe in the life-changing impact Beloit has on students and the world.
When most people would be diligently putting money into their 401(k) plans, Harvey'71 and Cher Black Simer'71 found a way to increase their giving to Beloit College and save for retirement.
William'39 and Barbara Brown Bachmeyer'38 were trailblazers in their support of Beloit College. They were the first alumni to participate in the charitable gift annuity program of Beloit College when it began in 1997.
Joan and Dick Niemiec'65 established the Edwin F. Wilde, Jr. Distinguished Service Professorship to support the College and to honor a favorite professor and lifelong mentor and friend.
"We considered funding the chair solely with cash gifts," explains Niemiec, a retired health insurance executive who joined the College's Board of Trustees last fall and is currently Beloit's interim president. "But we worked with our financial planner and the College to develop a gift plan that includes an insurance policy, thereby significantly leveraging the power of our gift. Beloit and future generations deserve the additional support."
"The College contributes so much to the quality of life in the Beloit community. It plays a significant role in recruiting top-level executives and professionals to the area," said John Eldred'52, former president of First National Bank and Trust Company. "It is our strong obligation to support it."
John Eldred'52 was the third generation of his family to lead the bank that was founded in 1882, and John and his wife, Helen Macklem Eldred'52, followed the footsteps of their parents and other relatives (going back to the class of 1917) by gaining an education at Beloit College. John has since passed away, and today their son, Steve, carries on the family business tradition as president.