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Why I Give: Q&A With Meg Maguire '65

Meg Maguire

Meg Maguire '65

Q: Tell us a little about your life today.
A: My husband and I are retired, but we are as busy as ever. I am a trustee with the Committee of 100 on the Federal City, a 97-year-old planning advocacy organization for comprehensive planning issues including housing, transportation, parks and environment, zoning, and historic preservation. I am also very active in the First Congregational United Church of Christ at Metro Center in D.C.

A year ago we moved from our townhouse on beloved Capitol Hill to The Westchester, an Art Deco co-op near the National Cathedral. We are still dealing with boxes and decisions on hundreds of tangible photographs and memorabilia of a lifetime. (What will become of all the pictures now locked in computers when this generation of technology passes?)

We are deeply grateful for our many friends and family members and for meaningful work.

Q: What is your fondest memory from the College?
A: One of my fondest memories is working on FOCUS, a campus-wide symposium with a number of guest speakers, with Patsy Derby, '63—a real intellectual high.

The top memory is probably the year that I substituted for professor Shirley Strickland while she was on sabbatical. I taught several sociology courses, assigned far too many papers, and stayed up many nights trying to comment and grade them. At the end of that year, I married my first husband in a beautiful wedding in Mary's Garden complete with harpsichord, violin and a mockingbird who commented during the silent prayer. While the marriage didn't last, I still feel warm memories of the occasion at my alma mater.

Q: What was your favorite tradition?
A: I wasn't much of a traditionalist but did enjoy singing the lovely College songs and the academic processions on special occasions.

Q: Why do you support the College with a planned gift?
A: Randolph College provides the best education possible with its small classes, close faculty-student relationships, strong sense of community, emphasis on critical thinking and social justice, honor system, beautiful and walkable campus, and high-tech/high-touch/high-frequency approach to frequent communications and gorgeous publications. I know what this experience did for me, cultivating my strengths and providing help with weaknesses. I want such a quality liberal arts education for all young people.

Q: Why is it important for people to give to Randolph College?
A: Supporting Randolph College—the extraordinary leadership of Brad Bateman, the brilliant faculty and excellent staff, the well-tended campus and beautiful buildings—is a high-yield investment with benefits and consequences beyond our knowing. As the College implements its future on the cutting edge, more equipment, facilities and scholarships are a necessity. This is what our gifts make possible.

Q: What advice would you give to a new graduate?
A: Show Up. Step Up. Think critically. Act with compassion and generosity. Vita abundantior!

Support the Future of Our Students

Like Meg, you can make an impact on Randolph students in the future. Contact The Planned Giving Office at 434-485-8050 or plannedgiving@randolphcollege.edu to learn more.

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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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