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Planned Giving

A World of Discovery

Bob and Susan Smith“Bob and Susan Smith may be common names, but they are far from common in their selflessness and generosity.”

These are the words of Flaviu Simihaian ’08, a man who met a very special family during a Rotary International trip that took Susan Smith from Concord, N.C., to Romania in the spring of 2001.

“I led a team of non-Rotarians on a month-long trip throughout the country,” said Susan. “We stayed in various homes of Rotarians, and one of the homes was that of Flaviu. He played tennis and had won a tournament using his sister’s racquet and wearing her shoes. In order to continue playing tennis, he would’ve had to move to Bucharest at the young age of 14.”

Struck by this young man and his talent, the Smiths arranged for him to spend the following summer in Concord with them and train at racquet clubs in the area.

“His parents sent their baby boy to live with someone they had only met for a few days, but they were very grateful and trusting,” said Susan.

As the summer progressed, and as Simihaian’s “two families” continued to discuss opportunities for the boy they shared such love for, Simihaian stayed in the U.S. and attended high school, from which he graduated in only three years, and he enrolled at Davidson, holding the top seed on the tennis team. The Smiths had to jump through many hoops, including many repeat trips to Romania and intense conversations with government representatives at the country’s U.S. Embassy, in order to make Simihaian’s more permanent stay in the U.S. possible.

“I fell in love with the liberal arts and the academic side of Davidson,” he said. “It was a humbling experience and a good challenge to become the best I could be, athletically and academically. Tennis at Davidson was a great experience, but what impacted me the most was the world of knowledge I discovered in the classes outside of my economics major: writing fiction, literary criticism, philosophy, poetry and other courses whose books and notes I still review to this day.”

Through their involvement with the college, the Smiths built strong relationships with Davidson parents, students and coaches, and they have included Davidson in their estate plans, a commitment that will create scholarships for international students.

“We want to offer students the opportunity afforded Flaviu,” said Bob Smith. Once the couple moves to The Pines in Davidson in a few years, they look forward to interacting with these students.

“I could not have afforded Davidson without a scholarship,” said Simihaian, “and I remember being very surprised. I wondered why strangers who had never met me would give me money to pay for my tuition. It took me quite a while to understand their generosity. It was an important lesson for me to learn and be better.”

Today, Simihaian is co-founder and CEO of iMedicare, which services more than 4,000 independent pharmacies across the U.S. In 2015, pharmacies using iMedicare helped 250,000 patients, resulting in a savings of $287.5 million to Medicare recipients.

Simihaian remains close with both families and says the impact the Smiths have had on his life inspires him to strive higher and go out of his way to help others. He gets back to Romania quite often, and he employs programmers and designers there.

“When starting a tech company, I knew there was a tremendous amount of talent in Romania,” he said. “Most of them have more talent than I do, but they didn’t have opportunities to come to the United States. Thanks to Bob and Susan, I’ve had a different life, and I consider myself lucky.”

Simihaian’s experience as an international student at Davidson prepared him well for a career as an entrepreneur. The generous commitment from the Smiths will make similar experiences possible for exceptional students from across the globe—students who will enrich Davidson, the lives of their classmates and the world overall.

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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] or [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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