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Why I Give: A Q&A with Judy Nicholson Frey '64

Judy Frey

Judy Nicholson Frey '64

Tell us a little about yourself now.
Retirement is great! One has time. Maybe that is Time with a capital T. Walking—hiking—is mainly what I do. The Class of '64 has a great hiking group, with self-led hikes in Nova Scotia, France, and New Mexico under our belts. Plus, Keith and I walked the 630 miles of the Southwest Coast Path, the Milford Track in New Zealand, things like that. And I still do a bit of volunteering with the Girl Scouts, mainly encouraging outdoor activities, and teaching fire building and orienteering.

What is your fondest memory of the College?
The first thing that comes to mind is the singing. Not that I can sing! But gathering with candles in the stairwell for a serenade or sitting upstairs in Main Hall with guitars and voices. Being together with the best people in the world.

What is your favorite tradition?
I went to three different high schools and many elementary schools. At Randolph-Macon I came to rest. I felt I could settle in and make real friends. Being an Eta and keeping up the Even/Odd rivalry helped to cement relationships in a very informal setting. I loved it!

Why is it important to you to give back to your alma mater?
Just think what Randolph-Macon gave to me! I've talked about the friends I made who are friends still and my first choice as partners in any adventure. Let me now mention academics, which you might agree are pretty important. I feel Randolph taught me to think. It broadened my horizon by 500 percent, at least. For someone like me who values liberal arts, it was perfect. And I believe it is still perfect for students today. I hope that all who profited from life behind the Red Brick Wall feel the same. Why would you not want to help make available to others the opportunity that meant so much to you?

Why did you want to specifically help the new M.F.A. in creative writing program?
What I specifically wanted to do was help the College. So I called and asked what they needed. Everyone should try doing that—all you will feel is good. You will know the person you are speaking with is smiling, if not jumping up and down! Donating to the creative writing program was their idea. They introduced me to Professor Gary Dop, who originally put the program together. Conversation with him convinced me that support for the M.F.A. in creative writing program was the right thing to do.

My gift was just enough to allow them to go ahead and launch it. If it had not been for me, or someone else like me, the program might not have gotten off the ground as quickly as it did. I didn't have millions to give, but I felt that what I did donate made a real difference.

What advice would you give a new graduate?
Keep up your ties to the College. Maintain your friendships as well as your links to career counseling and mentoring from alums. And remember to give back by talking up the College to prospective students and by donating to the annual fund every year. Randolph helped make you the best that you can be. Now it is your turn to pass it on.

Find out how you can pass it on and give back to the College by contacting The Planned Giving Office at 434-485-8050 or plannedgiving@randolphcollege.edu for more information.

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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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