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Why I Give: Q&A With Martha "Miff" MacLeod '76

Martha MacLeod

Martha "Miff" MacLeod '76

Q: Tell us a little about your life today.
A: I have enjoyed what I have come to call "my second career." I retired from banking, went back to graduate school in my 50s, and since 2010, I have been fortunate to work at the Dallas Museum of Art (DMA) as a curatorial assistant. During my tenure at the DMA I have served alongside curators who work with various parts of our collection. At the moment, I support the curators of Decorative Arts & Design, American Art and Latin American Art, helping them mount exhibitions, acquire new artworks and care for their collections. One of the nice benefits of my job is that I have opportunities to travel for work both domestically and internationally. I've been fortunate to do work at major museums in New York; Chicago; Denver; Washington, D.C.; London; Paris; Frankfurt; Montpellier, France; Basel, Switzerland; and Vienna, Austria. (Vienna was my favorite!) I try to pass two weeks on holiday in Paris each summer, where I can speak the French that I have been studying at the Dallas Chapter of Alliance Francaise.

Q: What is your fondest memory from the College?
A: Sitting in Dr. Fuller's American Painting class the fall of my junior year. I had already developed a deep appreciation for the incredible collection of American paintings that hung in our hallways and classrooms. I particularly recall that Georgia O'Keeffe's "Yellow Cactus" hung in the East trolley. It was in Dr. Fuller's class where I first began to truly develop a deep appreciation for American art and the incredible collection that surrounded me on a daily basis. Today, it gives me immense joy to think of those moments in his class that set my path to where I am today—albeit with a 30-year detour.

Q: What was your favorite tradition?
A: Weirdly, the serenades because I cannot carry a tune. I have such happy memories of singing (badly), arm-in-arm with classmates. "Where the River" still easily brings a tear to my eye.

Q: Why do you support the College with a planned gift?
A: To me, the question really is, "Why would I not support the College?" This is the place where I learned determination, grit, to never give up, and began to find my voice. It is the institution where I learned a lot academically, the place that sparked my interest in art history and where I learned to find a way to tough out the bad times and appreciate the good.

Q: Why is it important for people to give to Randolph?
A: For me, it is important to pay back the College for what I learned not only academically but also personally, and pay it forward to the current and future students of an institution that informed the abundant life that I so enjoy today.

Q: What advice would you give to a new graduate?
A: Don't stop learning, don't give up on your dreams, be bold and have the courage to change your path. To quote the novelist George Eliot, "It is never too late to become what you might have been." If you may indulge me a bit, my advice to current students would be to leave with no regrets. Your four years on campus will fly by with the blink of an eye.

Giving Back as Thanks

You, too, can ensure future students gain the same lifelong gifts of a Randolph College education. To learn more about the many ways to give, 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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