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Porell Family Scholarship Established as a Thank You to Saint Michael's

By Carla Francis, Development and Gift Planning Officer

Alcide and Yvonne PorellAl Porell '56 recalls with clarity his Saint Michael's experience and the people with whom he shared the experience. "I was a serious science student," says Al, a chemistry major who says he overcame the challenges of transitioning from a small, parochial high school to the rigorous academics of Saint Michael's with the support of dedicated faculty.

Now, six decades after graduation, Al and his wife, Yvonne, have decided to recognize all that Saint Michael's has given to their family with an estate gift to the Alcide L. and Yvonne C. Porell Family Endowed Scholarship.

Al credits Saint Michael's for providing him the foundation for his professional life. He explains, "Graduating with a bachelor's degree in chemistry, and a commission in the United States Air Force, provided me with the intellectual skills I needed to succeed in my chosen professional careers." Al served in the Air Force for 23 years, a commission that took him and his family across the world, and from which he retired as a highly decorated Lieutenant Colonel. Following his retirement, Al channeled his expertise into a 15-year career with Lockheed-Martin.

Now retired to Eastern Tennessee, Al devotes his time to Kiwanis, the Veterans of Foreign Wars, the American Wine Society, and reading books related to historical topics. Al and Yvonne also devote their time to their family as proud parents to two daughters, two sons-in-law, five grandchildren, and one great-grandchild.

Chemistry Degree Rooted in the Humanities

The professors who helped Al succeed weren't limited to the Chemistry Department, though Professors Henry Lemaire, PhD (inorganic chemistry) and Francis Quinlan, PhD (organic chemistry) are at the top of the list. The four-year core humanities curriculum that was initiated during his freshman year ensured that he worked with faculty across many disciplines, from Professor Armando Citarella, Litt.D. (classics) to Fr. Dupont (Dean of Studies). Having been raised by French-speaking parents in Maine, Al is bilingual, though at times relied on special assistance from faculty to grasp the fine details of English literature, especially poetry.

However, his chemistry professors were the ones who gave him the foundation needed for post graduate studies, which included master's degrees in nuclear chemistry from The Ohio State University and in industrial management from Central Michigan State University.

Timeless Friendships at St. Mike's

Throughout his career and studies, marriage to Yvonne in 1958, and the busy years of raising two beloved children (Katherine and Susan), Al has maintained a strong connection with the Class of 1956. He has served numerous times on the Class of 1956 Reunion Committee, oftentimes in recent years with his friend and fellow chemistry major, Ed Archer '56.

Al recalled a funny memory at his 60th Reunion when a classmate called him by his undergraduate nickname: "All Sides Parallel," a pun on his unusual name (pronounced phonetically Al-Sid Po-Rell) and in reference to his science-based studiousness. He also recalls with fondness the special service he received when he ordered food at the snack bar in French—from French speaking short-order cooks—and jazz sessions in Austin Hall on cold, winter Saturday afternoons.

Fr. Moriarty Urges New Graduates to Give Back

A few weeks before graduation, Fr. Francis Moriarty, then-President of the College, called a general assembly of graduating seniors in Austin Hall. In his talk, he reminded them that as alumni they now had the responsibilities to support the College in recruiting new students and in providing financial support. However, he made it clear that if they could only afford a $50 donation, they probably should keep it because they may need it more than the College needed it. And in Al's words, "Being the rebel that I was, I decided to donate my annual scholarship donation and limited it to $50 to $100."

Recognizing the College's Contributions through a Gift in their Wills

Al and Yvonne recently updated their wills, and in the process reconsidered their position in view of the benefits their family has received as a result of the education Al obtained from Saint Michael's. To recognize these contributions, and to say "thank you" to Saint Michael's, they have established the Alcide L. and Yvonne C. Porell Family Endowed Scholarship, which will be funded via a gross percentage of their estate.

As advocates of education at all levels, from elementary to PhD, Al and Yvonne say that supporting scholarship students at the College is a natural extension of their giving priorities. Thanks to their generosity, future generations of students will experience the same life-changing education that has so benefited Al Porell and his family.

Like Heritage Circle members Al and Yvonne, you can have an impact on future Saint Michael's students with a planned gift. Contact Carla Francis at 802-654-2618 or cfrancis@smcvt.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 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.

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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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