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Why I Give: A Q&A With Kathleen (Bunny) Willis Webb ’52

Kathleen (Bunny) Willis Webb

Kathleen (Bunny) Willis Webb

Tell us a little about yourself.

I am an Army brat, born at West Point, and moved with my father’s career and then with my VMI engineer husband’s Army and railroad careers. I came to Randolph in 1948. Not happy with my college acceptances, I applied late at the suggestion of my high school English teacher. Rooms were in short supply in 1948 due to a large freshman enrollment, and I ended up in an old piano practice room called “Back of Rec.” This was an unfinished area above the then Main dining room, which had been the original chapel and is now the wonderfully refinished wing housing the Skeller, choice rooms, offices, and the exercise rooms with their glorious views of the mountains. After a month there, a place opened in Webb because Lucy Foard McCarl’s ’52 roommate was discovered to have tuberculosis. I moved, and I think I’m the only person from those little, dark rooms who stayed after that first year. (Tuition, room, and board were $1,200 that year and remained the same for my four years—an astounding statement.)

What do you think of the College today?

The College was the same warm, welcoming place then that it is now, and the faculty were excellent and very supportive, though the many supports offered now are far more structured and available. Traditions have changed. There are no sororities and probably no secret societies with their stomps—or, at least, not so many. I remember Odds and Evens, but there was no Pumpkin Parade or Daisy Chain. The Honor Code was important to me then and is now. I was raised on “Duty, Honor, Country.”

Tell us about your life after graduation?

My summer jobs while in college were not internships. I was lucky to get typing jobs at the Pentagon courtesy of my father. And the wonderful $600 three-week YWCA European trip that several of my classmates were able to take just after graduation was out of the question. My brother was in college too. After graduation, I went to New York and worked at Doubleday publishers as a secretary (bad typist) in sales for a year. Opportunities for young women in the early fifties (and later) were limited, especially at a time when young men had returned from war and filled most of the openings. One woman I know, with strong bookkeeping and an early MBA, was bluntly told she should find herself a young man and make babies. I was lucky to be able to stay home with my daughter until she went to school. I returned to school to train as a librarian and became an early electronic school librarian and am still a librarian in my current retirement home.

Why did you choose to help fund internships and research with your gift?

Today’s job market offers so many more options than I could possibly have envisioned and many internships of quality—though paid internships are few. I have made my gift to the College so students who need financial aid can explore career opportunities in ways I could not have imagined—and take advantage of every future opportunity that comes along during their lives.

Why is it important to give back to the College?

My gift reflects my need to pay the College forward as thanks for teaching me to think and giving me four not perfect but wonderful years. The size of gifts is important but the number of alumnae and alumni giving is just as important to foundations and other sources of large gifts. Even $1 adds another person to the number, and don’t let the smallness of a gift embarrass you. It is important.

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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