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Planned Giving

Taking Care of Davidson

Olivia Ware

Olivia Ware

For Olivia Ware '78, giving is about staying connected. Whether it's political or art or social causes, she wants to help the people and places that matter most to her. Giving to Davidson College, she says, is a way to support many things she cares about, all in one place. And, she made philanthropy a priority as soon as she graduated.

"I don't think giving is something you should wait to do until you feel you're financially able to make significant contributions," she said. "It's important to give in all stages of your life. My donations in my 20s are certainly different than what I can do now, but it's about establishing a practice."

Olivia encourages all alumni to consider how they can make a difference for alma mater.

"Many of us [alumni] have been blessed financially, and it's a great way to take our financial rewards and use them for the greater good," she said. "The college has the ability to take those funds and use them in a way that I couldn't do if I were doing it on a small scale. Education is vitally important and constantly changing, and I want to put the money in the hands of people who can really direct it in the best possible way. For me, those people are at Davidson."

One of the ways Olivia has chosen to support Davidson is by including the college in her estate plans—something that was "not hard at all to do," in her opinion.

"Sometimes it feels daunting, like it's something only Warren Buffet and those kinds of people do," she said. "But it's not like that at all. Any person who is thinking about his or her future should consider planned giving. Most people consult with financial experts or tax attorneys anyway, and they give great advice. It's not as complex as it seems, and it takes very little time to set it up."

Olivia thinks about her own planned giving decisions in the simplest of terms, in fact. And, her considerations made Davidson a clear choice to include.

"I want to make sure the things I care most about are taken care of when I'm gone," she said. "Quite often, the obvious beneficiaries listed in a will are people, but I want to make sure the organizations I care about are taken care of, too. So, that's where Davidson comes in. I care about the college and its future, and I want to make sure I do what I can to help out."

Specifically, Olivia is passionate about maintaining the intellectual community she loved as a student. She enjoyed being in a knowledge-based environment that was stimulating and mind-expanding and where she was able to make connections with all people—faculty, students and administrators.

"I got a lot of incredible support from Davidson," she said, "and giving back is a way to acknowledge that support. It's also important to me that students without access to higher education are given opportunities to succeed. Some students, like students of color, may have more challenges, and I have a real interest in making sure they have exposure to a place like Davidson."

One way Ware ensures that her gifts create these kinds of opportunities is by supporting the Emergence Scholarship of The Davidson Trust. Created by African-American alumni in celebration of the achievements of Davidson alumni of color, this scholarship supports students through The Davidson Trust, with preference given to individuals from historically underrepresented populations at Davidson.

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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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