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Planned Giving

A Visionary Force for Art and Davidson

Joan Huntley and Amy Clemmons King

Joan Huntley and Amy Clemmons King '97

Joan Huntley never had a Davidson diploma with her name on it hanging in the home she shared with her husband, Bob, Class of 1947, but she enthusiastically adopted the college as her own.

"I'll remember Joan for her thoughtfulness, her indominable spirit and her dogged pursuit of progress," says Joan's close friend, Amy Clemmons King '97. "It is fitting that her gift will support Davidson in its ongoing progress and in adding to experiences throughout campus."

Joan and Amy met through Amy's parents, who lived near Huntley in Chapel Hill, and the two bonded over a shared love of Davidson and a shared love of art, particularly 19th century Barbizon paintings.

"She knew that if you believed in something, you could make it happen," Amy says. "That's how Davidson's Art Collection Advisory Committee [ACAC] came to be. She had been to museums at other private colleges, and she knew Davidson could attain that kind of collection if enough people got behind it. And then of course she roped me into it."

It's no surprise that Joan became known as the "godmother of the ACAC." Her estate gift will aid in the group's efforts through the Joan Huntley Art Acquisition Fund, supporting the addition of new works to enhance campus and the curriculum.

"Joan loved great art and was a passionate advocate for Davidson," says Lia Newman, director and curator of the college's Van Every/Smith Galleries. "She was the visionary force behind the ACAC, and this endowed fund is a fitting way to honor Joan's vision and leadership."

Joan, who also served Davidson as a lifetime member of the board of visitors, attended Mary Washington College (now University) and UNC Chapel Hill, earning advanced degrees in public health during a time when women did not get those kinds of degrees; she was often the only woman in the room. She was famous for bringing people together, a real connector.

"Joan was a force, always a positive one—and there was nothing she loved more than a Davidson student," says Amy. "She would rent out a room in her home to UNC graduate students, but it was only available to Davidson grads. I'm happy to know her legacy will continue at a place she valued so deeply."

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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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