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Giving

This Saint Mike's Vermonter is a True Gem

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Angie Aja Armour '99 M'09 was a journalism student and varsity athlete who is giving back to Saint Michael's.

By Mark Tarnacki, Staff Writer

Angela "Angie" Aja Armour '99 M'09 grew up in rugged, blue-collar Barre, central Vermont's famous "Granite City," where the quarries and sheds meant a living for generations of her ancestors. But it was Saint Michael's College that became her rock.

"They took a chance on me more than once," says the College's alumni and parent relations director, explaining why she and her husband, Josh, recently decided to make a will provision gift to fund an endowed scholarship at Saint Michael's. They are in their 30s and new parents of a baby girl named Gillian Grace. It was "Gigi's" birth last year that got them talking to lawyers and financial advisors as they looked to secure her future. Angie's heart told her that Saint Michael's needed to be a significant consideration in that process.

"First, Saint Mike's took a chance on me as a journalism student and varsity athlete who needed financial aid and work-study," she says. "Then they gave me the opportunity to come back as a 22-year old athletic communications director, and then move into an alumni relations role, working with Patrick Gallivan. So I feel this is my way of saying ‘thank you for believing in me, even when I didn't quite believe in myself.'"

A Community of Mentors
She tells how Edmundite Father Marcel Rainville '67 guided her through a personal tragedy in her early student days. He later presided at her and Josh's marriage, baptized their daughter, and has remained a trusted spiritual adviser.

Angie marvels at the strong role models she had as a student, from journalism professors to work-study supervisors. She says besides such cherished "guardian angels," she made some of her best friends for life as a Saint Mike's student. And of course, she met her patient and charitable husband, an IBM engineer, after returning as the athletic communications director.

Giving Back
"I felt that since someone provided funds for me to come here, the best way I can have anything close to an impact like that is if we include Saint Mike's in our will," Angie says. "The gift will build an endowed scholarship. We definitely want to support a Vermont student in need, perhaps from Central Vermont."

For Angie, the rationale for such a gift is straightforward: "People here recognize potential and that means a lot to me. Josh and I want to provide that same opportunity for other students."

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Learn What Matters

A charitable bequest is one or two sentences in your will or living trust that leave to Saint Michael's 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

“I give, bequeath, and devise to Saint Michael’s College, an educational organization established by law at One Winooski Park, Box 256, Colchester, Vermont 05439, whose Federal Tax ID number is 03-0179403 [here follows the dollar amount or percentage of the gift, or an accurate description of the securities, insurance policies, retirement funds, or the amount or percentage of the residual estate, or the real estate or other assets given].”

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 Saint Michael's 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 Saint Michael's 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 Saint Michael's 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 Saint Michael's College where you agree to make a gift to Saint Michael's 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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