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Planned Giving

An Olympian, Prepared for Anything

Caroline QueenCaroline Queen may be an Olympic kayaker, and she may spend her days doing business development work for Ritz-Carlton, but she is first and foremost a Davidsonian from the class of 2014. A "strong N" on the Myers-Briggs test, meaning she is a person who focuses on the future and trusts her intuition, she also tries to be realistic and set reasonable expectations.

"I didn't expect to surpass every expectation I set for college" she said, "and I think I blew every expectation out of the water. Being in a community of people that loved to learn and grow and be in service of something larger—it was just awesome."

Queen draws many similarities between Davidson and her current employer.

"Ritz-Carlton has a culture of service excellence that starts with leadership in the official and unofficial sense," she said. "I also feel empowered to be creative and develop relationships. These are all things I valued about my time at Davidson, and this mindset prepared me for my career in ways I didn't realize at the time."

A psychology major with interest in industrial-organizational psychology, Queen switched gears after thinking through how she would apply her liberal arts education and testing a few waters through internships, including one with Ritz-Carlton.

When she was filling out her new employee paperwork the first week in the office, there was a question about including organizations as beneficiaries of insurance policies and retirement accounts.

"If I have the option, why not?" Queen said about including Davidson in these long-term plans. "It was a natural and easy choice for me; I gave it maybe two minutes of thought. I think it says something about Davidson that it was a no-brainer for a 25-year-old to make plans for a potentially large contribution in the future."

Queen said the general rigor of Davidson prepared her for everything else in life, and she always felt supported through the challenging times.

"It is an environment of challenge that's not going to put you in a bad spot," she said. "We were given amazing tools and resources to solve tough problems and explore innumerable topics. I learned how to be collaborative and resourceful, and that has carried me into my professional life."

As a student, Queen was involved with Dinner at Davidson, the student-led effort to raise awareness and dollars for The Davidson Trust.

"The yield I got from working on Dinner at Davidson alone was so much higher than our tuition cost," she said. "To think that someone would be prevented from the overall Davidson experience for fiscal reasons is super disappointing. I would love to eventually fund a scholarship on campus to help students with those challenges."

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A charitable bequest is one or two sentences in your will or living trust that leave to Davidson 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

Bequest Language

I, [name], of [city, state ZIP], give, devise and bequeath to Davidson 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 Davidson 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Davidson as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Davidson 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 Davidson where you agree to make a gift to Davidson 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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