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Planned Giving

His Support Keeps the Ball Rolling

C.K. Rust sitting on a tractor

C.K. Rust ’63

When the New York Yankees and Cincinnati Reds organizations wanted C.K. Rust ’63 to consider playing ball for them after high school, C.K.’s mother, a longtime school administrator, insisted on education. Not a bad decision, as C.K. came to Davidson, pursued medicine and became a successful gastroenterologist.

“Meeting Davidson’s football coaches at a camp in North Myrtle Beach got me hooked on the idea of going there,” he says. “I played baseball and football freshman year, but being a pre-med student, I ended up quitting football after one year so I could put academics first. I continued with baseball, playing as often as I could while managing classwork.”

Regardless of the tough decision to step back from football, sports were a huge part of C.K.’s time at Davidson, and he has maintained close ties to the baseball program. He has included generous support for operational expenses in his estate.

C.K. Rust smiling in a baseball hat

C.K. played baseball at Davidson and has kept close ties to the program.

“Rucker Taylor is doing an exceptional job as head coach, and I want the program to have everything it needs to be successful,” he says. Scholarships are critical, but if we don’t have excellent fields, bats and uniforms, we won’t get the best players’ attention. You’d be surprised what those things cost these days. Baseball has grown by leaps and bounds since my time playing on the football practice field—they’d bring in a temporary fence and bleachers for games, and I even had to return my cap at the end of the season.”

C.K. retired after 32 years in gastroenterology, saying he practiced “in a good time of medicine,” and now spends his time overseeing a couple of golf courses in North Myrtle Beach and Charleston, South Carolina. He also participates in high-performance auto racing at tracks along the East Coast.

Staying connected to Davidson remains a top priority. His contributions will help ensure successful baseball seasons for years to come, and the players will definitely get to keep their caps.

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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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