Skip to Content

Why I Give: Q&A with Karen Patterson '73

Karen Patterson

Karen Patterson ’73, alumna, Board of Trustees member and donor

After earning her degree at Randolph-Macon Woman’s College (R-MWC) and a successful career managing the environmental aspects of permitting nuclear facilities, Karen Patterson ’73 retired to the mountains. She currently lives on an old farm with fields dedicated to pollinators. She volunteers, whittles down her never-ending reading list, takes continuing education classes, and spends time just being in nature.

Patterson is in her final year as a member of the Randolph College Board of Trustees and has made a planned gift to ensure future students have access to the education and opportunities she was afforded during her time at the College.

Q: What is your fondest memory of Randolph-Macon Woman’s College?
A: This will make me sound extremely antisocial, but my fondest memory of the College was the summer I spent on campus working on the original Blackwater Creek assessment. Two friends and I rented a faculty house on North Princeton.

About 10 or 12 students, from R-MWC, Sweet Briar, and Lynchburg College, basically had the campus to ourselves. It was familiar, yet so unfamiliarly quiet and peaceful. I got to know my professors on a more personal level and discovered the beauty and serenity of the school and the campus, which I had ignored during my academic years.

Q: What is your favorite R-MWC tradition?
A: Well, I am of the generation that eschewed traditions, so no Pumpkin Parade or Daisy Chain, or Odd/Even rivalry. We were the first class that did NOT memorize the alma mater in Latin (truly a blessing).

However, we never gave up singing. Various groups would gather on the stairs or in the halls late at night to serenade everyone. I got weepy then, and I get weepy now whenever I sing those familiar songs.

And, we could rent art from the College’s collection to hang in our rooms for only $1 a year. Although I majored in biology, and that was my life work, my house is full of art, thanks to Mary Frances Williams and that lending tradition.

Q: Why did you choose to support the College with a planned gift?
A: R-MWC was a gift I did not truly appreciate until years later. Part of my appreciation is due to it being a woman’s college, and part due to its small size. I was in a predominantly male profession (and many of those men had commanded nuclear submarines, so not prone to need a woman’s opinion).

The College gave me the confidence to stand toe-to-toe with these men and assert myself. Anyone who is underrepresented in their work has to assert themselves to be heard. Small classes and involved professors still produce graduates equipped to stand up for themselves.

Q: Why do you believe it is important to give to Randolph College?
A: Two reasons. First, I feel better about myself when I am generous with my good fortune. And second, take it from a trustee; tuition does not begin to cover the cost of a college education. I benefited from previous alums’ generosity. Giving to Randolph College is just paying it forward, and it may benefit a student and the world in ways you will never know.

Q: Do you have any advice for new graduates?
A: I can only tell you what I have learned:

The friends I made in college, graduate school, and at my first job are still my best friends. The discipline I majored in looks very different 50 years later. My major gave me a good foundation, but it in no way completed my education.

For a long time, I thought that at some point I would know all I needed to know, and thus be a “grown-up.” Being grown up is no more complicated than recognizing that I will never know all I need to know.

Dynamic learning is much more fun than passive learning. Questioning concepts and ideas rather than accepting them by rote is invigorating and gives me a better understanding of the topic and what I think.

Other than my friends, the most valuable things the College gave me are these: unfettered curiosity; the value of rigorous research and analysis; excellent time management and organizational skills; good oral and written communication; experience in leadership and teamwork, and the confidence that I can do anything I set my mind to.

Want to leave a legacy like Karen’s?

Randolph College needs your help to ensure that future students will be able to enjoy the things that make Randolph unique. Your generous legacy gift will directly impact our students. Please contact The Planned Giving Office at 434-485-8050 or plannedgiving@randolphcollege.edu to learn more.

eBrochure Request Form

Please provide the following information to view the brochure.

First name is required
Last Name is required
Please include an '@' in the email address

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.

Facebook Twitter Instagram LinkedIn YouTube RSS Feeds Snapchat

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.
Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

First name is required
Last Name is required
Please include an '@' in the email address