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Planned Giving

Love, Marriage, Davidson

Lorinna Lowrance

Lorinna Lowrance

Lorinna Lowrance—often seen wearing red with a large, silver Wildcat pendant around her neck—married a Davidson man. She didn't realize just how much of a Davidson man Joe Lowrance '54 was until the couple went on their honeymoon, and they just happened to be going through Williamsburg, Va. when Davidson was playing a basketball game against the College of William & Mary. Thankfully, Lorinna was happy to become die-hard Davidson, too.

"My Davidson friends and I say there is no way we can describe our love for this school to outsiders," she said. "It's a special package this place offers, and the feelings run deep."

Joe passed away in 2003, and Lorinna knows she is doing exactly what he would've wanted her to do by supporting Davidson's future. She is a regular contributor to Davidson athletics, and she has included the college in her estate plans, a gift that will support the new Athletic Center.

"I believe in the balance, athletically and academically," she said. "We do support athletics, but in doing so, I know we are supporting these incredible young people in the classroom as well. The new building, for example, really is for the whole campus, and I like knowing that our gift will benefit the entire school."

In addition to her generosity and belief in Davidson, Lorinna walks the talk. She rarely misses a men's basketball game, and she has traveled with the team many-a-time to tournaments in Orlando, Charleston and Puerto Rico.

"Joe and I are the only ones who've ever owned our particular seats in Belk Arena," she said. "I've been in those seats when we've only won five games in a season, and that's because I believe in Bob McKillop, and I believe in the teams he leads. I'm always there."

Also this year, Lorinna has formed a relationship with head football coach Paul Nichols '03, and she has made a conscious effort to attend as many games as possible, even when it requires sitting outside in the rain. She respects the integrity of Davidson's athletic programs and the commitment to excellence coaches, students and parents demonstrate on and off the court or field.

"I'm just 100 percent Davidson," she said with a smile. "And I guess if that's a bad thing, well then that's just too bad. It's simply who I am."

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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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