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Why I Give: Q&A With John and Margie Roberts Johnson '59

Jon and Margie Roberts Johnson

Margie Roberts Johnson '59 with her husband, John

Tell us a little about your lives today.
John and I moved to a retirement community near Roanoke, Virginia, about a year ago. Our daughter and her family live nearby, and our son and family live in Nashville. I enjoyed a career as an Episcopal church choirmaster-organist in Morristown, Tennessee; that work began as I majored in organ at Randolph-Macon Woman's College and played for required chapel in Smith Auditorium! Throughout our residence in Montreat, North Carolina, for 10 years, I subbed in several Asheville churches and now have practice opportunities at Christ Church Roanoke. John retired from careers in a family petroleum distribution business and as mayor of our East Tennessee hometown. He is now the committed driver of an all-electric car as we watch with dismay the change in our climate—an interesting irony for a former Shell Oil distributor. We are the devoted grandparents of five granddaughters and a grandson.

What is your fondest memory at college?
My fondest memory, other than the obvious joys of friendships, remains the closeness to faculty and administration to a small-town student as she found her way amid classmates from larger worlds. They were kind, encouraging, respectful and never dismissive. They helped me develop those qualities of leadership, which were crucial in my professional life. I look back with awe and gratitude at those relationships. As I read current material from the College, I realize that these relationships remain a cherished part of life on the campus.

Why do you choose to support the College?
Through financial crisis and change, Randolph College has found a new voice. That voice is informed about the realities of a new generation and seeks to meet those needs. We can treasure the past, but we must move on. It has seemed to me that coeducation and the name-change did not have to be a negation of the mission of the college I love. John and I want it to succeed. We have come to know and admire the intellect and stability of Bradley Bateman and support his steady and informed guidance through difficult days.

Explain a little about why donating the required minimum distribution from your IRA is a good option for those who would like to support the College financially?
We encourage alumnae and alumni and others interested in Randolph College to explore with their financial advisors and accountants the possibility of donating the minimum distribution from their IRAs in support of the College. John and I have elected to support both of our colleges in this way for many years and have found it to be an effective mechanism with financial benefits for us, as well as for our colleges.

To learn more about ways to give, please contact the Planned Giving Office at 434-485-8050 or plannedgiving@randolphcollege.edu.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

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A charitable bequest is one or two sentences in your will or living trust that leave to Randolph 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 give, devise, and bequeath to the Trustees of Randolph College (founded as Randolph-Macon Woman's College in 1891), a corporation located in Lynchburg, Virginia (the College), the sum of $_____ dollars [or property, securities, etc.], to be used for [describe the purpose in as broad and simple terms as possible], or in the event that such use shall in the judgment of the Board of Trustees of the College become impracticable, said trustees may use the bequest for other purposes as nearly akin to the original purpose as they judge will help advance the aims of the College."

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 the College 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 the College 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 the College 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 the College where you agree to make a gift to the College 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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