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Planned Giving

Lessons, Leaders and a Legacy

Dr. William (Bill) CrouchDr. William (Bill) Crouch '61 left high school a year early, realizing that going into medicine involved a lot of school and he wanted a head start.

"My dad went to Clemson where I was always going until I got accepted to Davidson," he said. "I was so proud to get into this outstanding college, and there was no doubt that this is where I wanted to be."

An important lesson Crouch learned at Davidson is that failure to prepare leads to failure. Also, Bill's dad taught him that "there is no free lunch." Anything that you achieve, you will have to earn. Crouch believes everyone should have the opportunity to succeed, but every individual must earn the blessings and rewards through hard work. He says this aligns with Davidson's philosophy of achievement through diligent preparation. Ensuring that more students have the opportunity to succeed at Davidson is the purpose of Crouch's latest commitment to his alma mater, which comes in the form of a legacy bequest.

"Davidson means a lot to me, and I hope this gift will help the college offer an educational opportunity to someone who may have difficulty coming up with the tuition," he said. "It is truly a privilege and a pleasure to be able to give to Davidson."

Crouch remembers his positive interaction with Professor Olin Puckett who ran the biology department and was chairman of the pre-medicine program at Davidson. He describes Puckett as a no-nonsense teacher who was extremely thoughtful and supportive for those trying to get into medical school without the best of academic credentials. Thrilled to earn his way into the Medical University of South Carolina, Crouch promised himself he would never be caught unprepared again.

Crouch graduated near the top of his class at MUSC, completed his general surgical training in Virginia and his cardiothoracic surgical training in Washington. He practiced cardiothoracic surgery in Southern California and Colorado, where he lives today.

He remembers exceptional peers in medical school and residencies, but he ranks students at Davidson second to none.

"These men were outstanding; likable, hard-working, and extremely bright. Wherever I was, I was always proud to say I went to Davidson College."

Crouch remains connected to Davidson from Colorado. He and 11 others from his Kappa Sigma pledge class remain close staying connected through e-mail. They had a wonderful get together during the fall of 2015, reminding him of the bonds that start at Davidson and stay with graduates forever.

"This is part of what it means to be a Davidson alumnus; you're part of an institution that represents close camaraderie, hard work, and diligence," said Crouch.

He and his wife, Jackie, have been together for 33 years and remain active in their community of Colorado Springs, and he feels fortunate to be able to hike, bicycle, play golf and remain active.

Crouch is grateful for the foundational lessons learned at Davidson that allow him to provide a bequest for future Davidson students to begin their educational journey.

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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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