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Why I Give: Q&A With Rebecca Dixon ’60

Rebecca Dixon

Rebecca Dixon ’60

Q. Tell us a little about your life today.
A. A couple of years before I was to retire in 2005, I trained to become a volunteer docent for the Chicago Architecture Center. For the ensuing 18 years, it has remained a rewarding activity—explaining Chicago’s history, architecture and related design; greeting people from all over the world; enjoying fellow docents; and getting outdoor exercise.

Six years ago, I moved from Evanston, IL, where I had most recently worked at Northwestern University, to a senior citizen residence in Chicago, just off Michigan Avenue near the Water Tower. Now, I can walk to the Architecture Center or River Cruise, am only a few blocks from Fourth Presbyterian Church where I’m very active, and have many friends within walking distance. Most of my family members are still in Staunton, Roanoke, or Richmond, and I am pleased to be able to visit home territory, including Lynchburg…when conditions allow.

Q. What is your fondest memory of the College?
A. My strongest memory of the College is the great education I got. I loved the variety, of being challenged, of doing research, even in the musty underground library stacks. Today, I still have and even occasionally refer to three textbooks: one on the Old Testament written by my Randolph professor, my art history text, and the music appreciation text we used. Recently, I read a write-up I prepared for the memoir class I’m enjoying. In the critique afterward, a classmate said, “I think you had a great liberal arts education.”

Why do you support Randolph College?
A. Family circumstances prompted me to formalize estate plans many years ago. In addition to concern and love for family members, I carefully chose only two other eventual beneficiaries, the College as one of them. Initially, I was identified as one of the “anonymous” benefactors in the named-gift column. A few years later, I asked that my name be published, hopeful that action might motivate others. Simply put, Randolph College has made a tremendous difference in my life. Without the financial aid given me, I could not have attended what my father with only an eighth-grade education characterized as “the best college in Virginia.” I want to support its ongoing strength and influence for the benefit of others. I was a trustee during the years we transitioned to coed, a decision I strongly supported. I am especially pleased with the character now of the student body.

My annual gifts to the College over many years reflect my gratitude to my alma mater for the ongoing “gift” of my educational experience there. Provision in my estate plans reflects my continued support and hope for similar experiences for students there today. It is important that both the Randolph family and those thinking about becoming a part of that family know my intentions. I urge new graduates to reflect on their Randolph experience and commit to staying in touch with the College’s faculty, staff, students, and fellow graduates, and commit to contributing annually. That richness of connection will last your lives long.

Connect to Future Generations

Like Rebecca, you can make a gift that expresses your gratitude for a Randolph College education. To learn more about opportunities that meet your needs and support the College’s future, contact The Planned Giving Office at 434-485-8050 or plannedgiving@randolphcollege.edu.

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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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