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Young Saint Michael's Alum Plans Ahead to Give Back

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Christine McAuliffe '06

Saint Michael's College alumna, Christine McAuliffe '06, is a very forward-thinking woman! Because her time here at the College was so meaningful, she wanted to give something back. She says, "I don't necessarily have a lot of money to give right now, so I wondered how I could support Saint Michael's in a bigger, more significant way down the road." She recently chose to make a planned gift by designating a percentage of her retirement plan to Saint Michael's. These funds will compound over time, benefitting both Christine and the College.

When Christine was in high school and looking at colleges she knew she wanted to experience life outside her hometown of Belmont, MA but didn't want to be too far away. During that period, Christine happened to visit Vermont for her cousin's graduation. While here, her aunt who was working as a nurse at Saint Michael's, showed Christine and her family around. The moment she stepped onto campus she knew it was to be her "home away from home." She knew immediately that she wanted to apply and it became her first choice after interviewing with the folks in the Admissions Office and meeting the caring people on campus. This was a community in which she could learn, be nurtured and express her creativity in a supportive environment.

As an undergraduate at Saint Michael's, she made many life-long friends. Christine switched her major in her junior year to Journalism & Mass Communications and dedicated herself to the program in order to graduate on time. She has countless fond memories of her late nights in the "Berg," the Bergeron computer lab. It was there she made friendships with others in the program who shared her passion.

One of her favorite professors was Dr. Jon Hyde, a Journalism & Mass Communications professor who taught Visual Communications and her favorite, Global Communications. "Dr. Hyde had very creative ways of getting through to us and making learning fun," she says.

After graduation, Christine accepted a position with a benefits brokerage firm in the Boston area. She spent four wonderful years there but she started to seriously think about going back to school full-time to earn a graduate degree. During that period, a cousin asked if she had ever considered working for a college. This way, she could earn a living and take classes at little or no cost.

Following this advice, Christine became employed as an administrative assistant in the Office of Gift Planning at Boston College (BC), where she supports several gift officers and focuses on stewardship activities and events for alums. It was in this capacity that she discovered how easy it was to set her giving in motion. All Christine did was go online to where her retirement plan is being managed, filled out the necessary beneficiary designation form, and as easy as one, two, three, she was able to give back to Saint Michael's in a meaningful way. Christine has also designated Boston College as a partial beneficiary of a life insurance policy. This is another very easy way to leave a legacy.

Christine says, "I am grateful for the friends I made and the experiences I had, so when I learned that designating a percentage of my retirement plan was a giving option I knew immediately that I wanted to do that for St. Mike's. I want people to know that making a planned gift is easy, once you have the knowledge of what the many different options are."

She attends Saint Michael's alumni events in the Boston area whenever possible, including a recent Red Sox Game in August. She attended her 5th Class Reunion in 2011 and she'll be back for her 10th in 2016. Christine is very grateful for her Saint Michael's experience and will remember it fondly for the rest of her life.

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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.

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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