A Special Gift Years in the Making
Roy Schneiderman’77, feels a strong appreciation for the education he received at Beloit and its influence on his life. He went on to earn a master’s degree in philosophy and a master’s in business administration, saying philosophy is an excellent start for business as it teaches critical thinking and hones one’s communication skills. Roy’s professional accomplishments are living proof of that belief: He is the founder and principal of Bard Consulting, a firm that provides customized real estate investment solutions for institutional investors. Previously he was a partner at Sedway Group and a consultant at Deloitte.
Roy and his wife, Susie Chang, have been generous to Beloit for many years and have also included the college in their estate plan, so they are members of the James E. Duffy’49 Society. They have gradually increased their annual giving to support areas they are passionate about—one of their first gifts honored eight professors whom Roy admired.
Several decades ago Roy bought one share of Berkshire Hathaway, and given its significant appreciation over the years, the stock became the ideal asset to gift to the college. Roy envisioned the proceeds from the sale of the stock being used to fund his annual gifts to the Beloiter Fund and a special gift for a visiting philosopher over the next several years.
Working together, the team in the Gift Planning office and Roy have ensured that this special gift will fulfill Roy’s philanthropic plans for the college as well as provide him with maximum financial benefit. By timing this gift as he did, Roy is able to avoid capital gains and take a charitable deduction that he knows he can currently use.
The Nuts and Bolts. The college has sold the appreciated stock and will invest it in a fund with 0% weighted risk and a small return. Over the next several years, the college will withdraw money from the investment account, per Roy’s advice, to fund areas he wants to support at the college. For example, as the five-year-old Visiting Philosopher fund neared the end of its original funding, Roy—who wanted to help continue the program initiated by a classmate—designated a portion of his gift to support it and requested that the program be renamed in honor of one of his favorite professors, Scott Crom.
Overall, he is able to pre-fund his annual support for a five-year period and distribute it to several areas he cares about. Sound simple? For Roy, that was key. He wanted to put his gift on auto-pilot, and the experts in the Gift Planning office have crafted this fund to do just that. However, a gift like this can also be structured to build in as much input from the donor as desired. When you work with the Gift Planning office, the team will design your gift in a way that makes sense for you.
Contact us. If you have an idea for a gift, even if it seems unconventional, contact Beloit’s Gift Planning office at firstname.lastname@example.org or 608-363-2683. Our experts are happy to assist you in realizing your philanthropic dreams for Beloit through a gift vehicle that provides maximum financial and tax benefit for you and your loved ones.